Spartan Gold Ltd
Initially, the Poker Flats prospect consists of 64 lode claims and private land and mineral rights for a total of 3,040 acres, and holds an option for 75% majority ownership of this project in the southern Carlin Trend, which is home to some of the world's leaders in the mining industry. Neighboring mining projects north and west of Poker Flats include Newmont Mining Corporation, Premier Gold Mines Limited and Gold Standard Ventures Corporation.
Spartan also has the Ziggurat prospect in Nye County, Nevada, which comprises one contiguous block of 227 lode claims and a total land area of 4540 acres. The Company holds an option for 75% majority ownership of this project.
The Company is currently pursuing opportunities for several acquisition targets in North America and focusing on exploration plans for current projects. Spartan has selected an international board of directors and advisors with over 90 years of combined experience in the exploration and development of global mining projects. Spartan's commitment to asset growth and increased shareholder value will be sustained by the development of highly prospective projects, accelerated exploration activities and the acquisition of viable resources.
News
Sphere Resources Inc and its 51.6% subsidiary Spartan Gold Ltd.("Spartan") (OTCBB:SPAG) collectively (the "Sphere Group") have substantial holdings in some of the most prolific, high-grade gold regions of the world.
The Company would like to update its shareholders to the previously announced news release dated July 2, 2013 offering of up to US$10.0 million of a five year senior secured debt instrument through a private placement.
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. Gold Standard Ventures Corp ("Gold Standard") has drilled several holes along these different faults, to the west of the Poker Flats property.
The Company announces the signing of an Engagement Agreement with Wedgewood Investment Group LLC ("WIG") for the offering of up to $10.0 million of five year senior secured debt instrument through a private placement being marketed to private clients in the Americas, Europe and Asia. WIG of New York is advising the Company on this placement.
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