Markets

Spanish Mountain Gold Down Almost 4% Even with Discovery of New Gold Zone

Shares of Spanish Mountain Gold Ltd. (SPA.V) are now nearing day low 76 cents after an almost 4% drop from yesterday's 80 cents close even with the company's announcement that assay results from the northern Cedar Creek area indicate the presence of a new zone of gold mineralization.

Brian Groves, President and CEO, stated: "The discovery of the Phoenix Zone in the Cedar Creek area is a very positive development for the Spanish Mountain Gold Project. The Company will now begin the planning for further drilling and metallurgical testing to be completed in 2012."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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