SOURCE: IO News Wire

IO News Wire

May 24, 2011 03:00 ET

Mining Stocks Report: New Gold for Spartan Gold (OTCBB: SPAG)

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO News Wire.

NEW YORK, NY--(Marketwire - May 24, 2011) - Spartan Gold Ltd. (OTCBB: SPAG), the diversified U.S. based junior gold exploration company, recently announced that a new discovery of Carlin-style gold mineralization, alteration, and felsic diking has been made on the Ziggurat property controlled by Spartan and its partner Mexivada Mining Corporation.

This new discovery comes after the company announced that it had completed a significant project expansion plan for the Ziggurat prospect located in Nevada in early March.

An interesting point is that Spartans gold properties are in close proximity to numerous prolific producing gold mines operated by industry leaders such as: Kinross Gold Corporation (NYSE: KGC), Newmont Mining Corporation (NYSE: NEM), and AngloGold Ashanti Ltd. (NYSE: AU).

Spartan Gold CEO, Mr. Malcolm Stevens, commented at the time, "We believed the Ziggurat property had all the components necessary to establish a very promising future in one of the great area plays in the best gold province in the USA today. This made Ziggurat an attractive investment opportunity in the beginning and we were pleased to have closed this deal on behalf of the shareholders."

About Spartan Gold Ltd.

Spartan Gold Ltd. (OTCBB: SPAG) is a publicly traded 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. The Carlin region is the location of the Spartan Gold prospect known as Poker Flats and Round Mountain-Northumberland Mining districts of Nevada are home to the Ziggurat project.

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