Spartan Gold is a U.S. based junior gold exploration and mining company with gold exploration and development activity centered in both the Carlin-Rain and Round Mountain-Northumberland Gold Trends in Nevada. Today, Spartan announced they have increased net ownership in both of its Nevada gold properties to 75% working interest.
Spartan recently exercised amendments to the previously announced Option and Mining Claim Acquisition agreements concerning the Poker Flats and Ziggurat Projects. These amendments now give the company an option to acquire an undivided seventy five percent (75%) super majority right, title and interest to both of the prospects located in the Carlin and Round Mountain-Northumberland Trends in Nevada respectively.
Spartan’s Nevada gold properties consist of the Poker Flats property located in the world renowned Carlin Trend and the 6,800-acre Ziggurat property located in the prolific Round Mountain-Northumberland Trend. This renowned region has yielded gold production of more than 85 million ounces. Spartan believes that increasing its stake to 75% working interest will substantially enhance its position moving forward along with their strategic value.
Leading the way at Spartan is Malcolm Stevens who serves as CEO. Commenting on what this will mean to the company’s position within the sector, Steven was quoted as saying, “Spartan Gold is now justified to move forward on a major exploration plan in one of the best mining camps in Nevada. Expanding the interest of our properties to a 75% majority position is a significant achievement and a very important value proposition for the shareholders of the company. The Company has recently completed significant geophysical work including magnetic and gravity surveys on both properties and expects to update the existing NI 43-101 Reports during April of 2011.”
To learn more about this news or Spartan Gold Ltd. as a whole, visit their corporate website at: www.spartangoldltd.com
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