VANCOUVER, BRITISH COLUMBIA, (ACCESSWIRE) - September 23, 2013 - Sphere Resources Inc. ("the Company"), listed on the NEX Board of the TSX Venture Exchange (NEX:SPH.H), is pleased to make the following announcement:
The Company's subsidiary, Spartan Gold Ltd ("Spartan") (OTCBB:SPAG) has engaged J.L. Wright Geophysics of Elko, Nevada to supervise a CSAMT & possibly an IP (Controlled Source Audio-frequency Magnetotelluric and Induced Polarization remote sensing methods) geophysical survey to indentify drill targets on the western border of the Poker Flats property bordering Gold Standard Ventures Railroad property. The program will be designed and interpreted by James Wright of J.L. Wright Geophysics a highly respected and very experienced resident expert. In 2012, Gold Standard Ventures completed CSAMT on their Railroad property immediately adjacent to the Poker Flats property, claiming the survey is assisting with targeting their drilling.
In 2011, Spartan Gold completed detailed gravity and ground magnetic surveys on the Poker Flats property under the direction of Wright Geophysics. These new additional surveys should greatly assist with structural interpretation and define drill targets for gold.
As previously advised (News Release August 13, 2013) the Company believes the Railroad Fault system passes directly through the Poker Flats gold property, and is interpreted to comprise at least 3 sub-parallel fault strands, 1100 to 1750 metres in length adjacent to Sphere/Spartan's property blocks.
The Company's neighbour, Gold Standard Ventures Corp ("Gold Standard") has drilled several holes along these different faults, to the west of the Poker Flats property which have resulted in hole "RR13-11 having intersected 98.1 meters of 3.26g/T of gold including, 17.1 meters of 9.98 g/T. Hole 13-11 is located 70 meters west of previously drilled and reported hole RR13-08, that intersected 75 meters of 3.67 g/T of gold at essentially the same depth (about 275 meters below surface). The high grade mineralization encountered in 13-8 and 13-11 is essentially open in all directions. Drill hole RR13-12, in progress, is a 50 meter offset to the north of 13-8 and 13-11. Hole RR13-10, located approximately 150 meters south of 13-08 & 11, intersected 35 meters of 1.82 g/T in the upper breccia and 70.7 meters of 0.55 g/T in the lower breccia." (see Gold Standard NR dated Sept 19,2013)
The Company, as recently advised, will focus its exploration efforts on areas of high grade gold on its highly prospective Poker Flats project in the Carlin Trend, Nevada. The Poker Flats property has the attributes to host a potential high grade deposit such as the high grade gold discovery approximately 500 meters from Sphere's western border identified by Gold Standard at the North Bullion Fault Zone on its Railroad property. There is no certainty further exploration will lead to discovery or development of similar deposits.
The CSAMT/IP survey will be followed by a 3,000 meter drill program to identify high grade feeder shoots from the continuation of gold mineralization of Gold Standard Ventures high grade gold discovery and other targets.
Malcolm L Stevens, Executive Chairman and President of Sphere Resources Inc commented: "We are very pleased to have engaged J.L. Wright Geophysics to oversee the CSAMT/IP survey. This will help us tremendously in identifying new drill targets for our 3,000m drill program."
About Sphere Resources Inc.
Sphere Resources Inc. is focused on identifying and appropriating exploration targets and other high quality assets in major global mining camps with a particular emphasis on precious metals. It is currently involved in exploring for gold mineralization in the Red Lake District of Ontario and on the Carlin Trend in Nevada, USA.
On behalf of Sphere Resources Inc
Malcolm L Stevens,
Executive Chairman and President
Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward‑looking statements. Forward‑looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Sphere Resources Inc.
Malcolm L Stevens
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
Source: Sphere Resources Inc.
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