Staccato Drops Non-core Projects
VANCOUVER, BC - Staccato Gold Resources Ltd. reported that it has dropped its interest in three non-core Nevada exploration projects. By abandoning the Cobb Creek, Long Peak, and Dixie Flats projects, Staccato will save over US$300,000 each year in advanced royalty payments and holding costs. Long Peak and Dixie Flats are early stage exploration projects, and Cobb Creek has a small gold resource outlined, but difficult permitting conditions make it a challenging project. Staccato believes that it can acquire other projects with similar quality and potential, but with reduced holding costs, in the future. By eliminating the spending commitments and activity on non-core assets, Staccato can concentrate on exploration and development of its flagship South Eureka property. Staccato will also continue to investigate new growth opportunities, with a particular focus on advanced stage projects that hold the potential to host significant gold deposits. Staccato's flagship South Eureka property encompasses an area of approximately 43 square kilometres (27 square miles) and is comprised of several projects. The property is located in the Eureka Mining district within the Battle Mountain - Eureka Trend, also referred to as the Cortez Trend. Barrick's Archimedes (Ruby Hill) mine is located approximately 7.2 kilometres (4.5 miles) north of the Staccato claim area. The South Eureka property has a history of gold production from several open pits including the Windfall Mine, one of Nevada's first open pit heap leach mines. Historic production from the district totals in excess of 2 million ounces of gold. Further exploration results from the recent exploration program are pending. The company's address is Suite 2060, 777 Hornby Street, Vancouver, BC V6Z 1T7, 604.682.8789, 604.484.8254, email: [email protected], www.staccatogold.com.