Sparrowtech Purchases Mining Claims.TORONTO -- Sparrowtech Multimedia Corporation ("Sparrowtech") (Pink Sheets:SPMC SPMC Society of Paper Money Collectors SPMC St. Peters Medical Center SPMC Science Program Management Committee (Australia) SPMC Stationary Phase Monte Carlo SPMC sNaKe PiT Music & Motorcycle Connection (music festival) ) President Cornelia Volino is pleased to announce it has purchased the mining claims and related rights of the Pathfinder Mining Property, located in the historic Boundary District of the southern British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography . This District has produced in excess of 8 million ounces of gold, from a variety of deposit types over the past 100 years. The Pathfinder property is a large property, consisting of 25 units (1500 acres). In a regional sense, the claims are well situated immediately west of the Granby River Fault. The Granby River Fault is a regional north trending, west dipping detachment fault that separates high grade metamorphic rocks to the east from the younger accreted and post-accretionary rocks to the west. It forms the eastern boundary of the Republic Graben to the south in Washington State, where much of the past and present gold production in the district has taken place. Structural control and structural setting are important components of many of these gold deposits. Two distinct styles of mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. are anticipated to be present. At the Pathfinder and Diamond Hitch zones, gold mineralization is associated with disseminated stockworking and massive pyrite-pyrrhotite (+/- magnetite magnetite (măg`nətīt), lustrous black, magnetic mineral, Fe3O4. It occurs in crystals of the cubic system, in masses, and as a loose sand. , chalcopyrite) within fine grained (+/- siliceous siliceous relating to or made of silica or a silicate. ) Permian or Triassic volcanics and volcaniclastics. Samples taken have returned values of 0.216 oz/t gold and .67% Cu to .97 oz/t Au and 1.18% Cu. The second style of mineralization known on the property occurs at the Little Bertha zone, situated about 1 km. north of the Diamond Hitch zone, where an auriferous au·rif·er·ous adj. Containing gold; gold-bearing. [From Latin aurifer, gold-bearing : aurum, gold + -fer, -fer. quartz vein is hosted within a granodiorite granodiorite Medium- to coarse-grained rock that is one of the most abundant intrusive rocks. It contains quartz and is distinguished from granite by having more plagioclase feldspar than orthoclase feldspar; its other mineral constituents include hornblende, biotite, and intrusion. The vein is 1-2 meters in width and comprised of milky white quartz and quartz stock-work zones, with an average grade of 0.44 oz/t Au and 4.0 oz/t Ag. Additional showings are known on the property, some of which have returned favorable gold grades (to 2.58 oz/t). The favorable regional setting of the property, with the zones of anticipated gold mineralization, combine to make this acquisition an excellent opportunity for Sparrowtech. Ms. Volino stated, "We are excited to have expanded Sparrowtech's corporate operations by targeting a new market and industry that will provide diversification and possible increased shareholder value." She further stated, "We are currently establishing a relationship with geological and mining experts and advisors to assist Sparrowtech as we create this new and exciting Mining Division." A number of statements contained in this press release are forward-looking statements that are made pursuant to the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements involve a number of risks and uncertainties including but not limited to: competitive market conditions, successful integration of acquisitions, and the ability to secure additional sources of financing. The actual results that Sparrowtech may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. |
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