Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Source Gold Corp. (SRGL) In Final Stages To Acquire New Mineral Property With “Geological Promise”

Source Gold, an exploration stage mining company, today announced its plans to this week complete the acquisition of a new mineral property in northern British Columbia, at the Yukon Territories border.

The property was explored in the 1980s by crews looking for zinc, lead, and silver deposits. Though the crews didn't complete the work, Source Gold acquired reports that the company says merit further studies of the claims. And while gold was not the target of the earlier exploration, Source Gold reports that there have been several gold strikes in the vicinity, partially due to the Carlin type geology of the area. This is worth noting since the Carlin Trend in northern Nevada has produced more gold than any other mining district in the United States.

"We're primarily interested in the property because it fits in with our philosophy of acquiring mineral rights to properties in areas of geological promise and those that have been past producers. This one definitely shows geological promise - there are several discoveries in the area, and as a consequence the area is being staked quite heavily," Lauren Notar, CEO of Source Gold stated in the press release.

Source Gold said it will release more details regarding the location and the terms of the acquisition once the transaction is completed.

For more information visit

Please see disclaimer on the QualityStocks website: