Welcome to the Sphere Resources Inc. Hub on AGORACOM
Sphere Resources Inc. is a Canadian based minerals company with gold exploration and development activity centered in the Red Lake township of northwestern Ontario, Canada as well as the Carlin trend and the Northumberland trend of Nevada, USA.
Sphere Resources Inc. TSX Venture Exchange (NEX – SPH.H)
Sphere Resources Inc. is a Canadian based minerals company with gold exploration and development activity centered in the Red Lake township of northwestern Ontario, Canada and the Carlin trend of Nevada, USA. These superior gold camps of North America are endowed with world class mineral deposits. Having had previous success as an explorer and developer of gold assets in Asia and Africa, Sphere’s new direction is to find major gold deposits in the leading gold camps of North America and use an innovative approach to reduce the time and cost to market by using deep resolution IP technology continually while drilling to achieve success.
Sphere’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.
During 2010 the company bought a 30.25% interest in the highly acclaimed Puna in Argentina to participate in the growth of the Burgeoning Lithium Carbonate market. Due to the strategic position and quality of the brines the company was approached by one of the largest investors in the region and sold out for cash to increase the company’s exposure to the prolific Red Lake gold camp .
Announced on December 6, 2010 the first acquisition is the McManus property. The McManus property adjoins the company's Dome property from the north of the south eastern block and to the east from the north western block.
The McManus property also adjoins Mega Precious Metal's Headway property at its south western border where Mega is drilling 2 holes of 3,000 meters each. Having acquired the McManus property brings us much closer to Goldcorp's high grade zone area. Of particular interest is the fact that Goldcorp on November 9, 2010 announced drilling results from the high grade zone of 34.7 meters of 136.3 g/t gold and 1.7 meters of 1,826.3 g/t gold. These grades are staggering and according to maps from Goldcorp's website the high grade zone is trending in a southwestern direction which could potentially trend onto the McManus property.
Below is a link to Goldcorp's website showing its Red Lake mine gold zones.
Most recently on November 29, 2010 Rubicon Minerals announced it has more than 4 million oz of gold at its Phoenix project also in Red Lake. The Red Lake gold camp may very well be the best place to make the next big gold discovery.
Sphere Resources is now exploring for gold in the prolific Carlin Trend and in the Northhumberland Trend of Nevada, USA with the acquisition of the Poker Flats and Ziggurat properties optioned from Mexivada Mining Corp. announced on December 22, 2010 and December 29, 2010 respectively.
The Poker Flats property comprises non-contiguous blocks containing a total of 25 unpatented lode mining claims, totaling approximately 500 acres. The claims are located 33 kilometres south-southwest of Elko, Nevada. The Poker Flats property is situated within the north-northwest-trending Carlin gold trend, which hosts the Rain/Emigrant Springs, Gold Quarry, Carlin, and Blue Star / Genesis disseminated gold-silver deposits, as well as the Meikle, Rain, and Saddle / Tess fault-controlled vein-style gold-silver deposits.The exploration goal is to generate open pittable, heap leachable Carlin- or Meikle-Rain-Saddle type orebodies at shallow depths (80 to 150 metres), which could be mined and processed through Newmont Mining's expected new mining operation to be started up soon at Emigrant Springs as announced on January 25, 2011.
The Ziggurat property consists of 57 lode mining claims totaling 1,140 acres in size, located 20 km north of Kinross-Barrick's giant +15 million ounce Round Mountain open pit, heap leach gold mine, and 5 Km south of Fronteer Gold's +3 million ounce Northumberland Mine gold property. The target size at Ziggurat is large enough to host a multi-million ounce Carlin-style bulk mineable gold deposit. Ziggurat offers good potential for either a stand-alone gold mine or a mine that could provide incremental feed to one of the existing nearby mines along the Round Mountain - Northumberland gold Trend.
As announced on January 6, 2011 Sphere completed the sale transaction of its interest in its Pocitos and Rio Grande salars in Argentina for nearly USD $1,000,000. This injection of funds into the Company will allow it to increase its exposure to the assets it has been acquiring in the gold rich Red Lake district of Ontario and the Carlin Trend of Nevada and any other significant gold and silver opportunities in best gold provinces in North America as well as other very select clean energy opportunities”.
Sphere has a select international board of directors experienced in undertaking exploration, development and funding of numerous energy and minerals projects in developed and developing countries.
Sphere Resources Inc. is a publicly listed company on the Toronto Stock Exchange (TSX- V; NEX: SPH.H)