GSPG - GOLDSPRING INC

95FT .52 OPT-Au; 30'.2 OPT-Au, 380'.1 OPT-Au

2010-07-18T20:23:00.000-07:00

Six Exploration Drill Holes That Include a 30 Foot Interval Grading 0.209 Ounces Per Ton Gold on the Southern Extension of Its Comstock Project in Nevada
- April 15, 2009
http://www.redorbit.com/modules/news/tools.php?tool=print&id=1671420

Also
February 24, 2009: 65 Foot Interval of 0.123 Ounces Per Ton Gold and 2.23 Ounces Per Ton Silver at Its Hartford/Lucerne Deposit
http://www.tradingmarkets.com/.site/news/Stock%20News/2193084/

February 18, 2009:
140 Foot Gold Interval Grading 0.242 Ounces Per Ton Gold
Drill hole RC-101 contains a 345 foot interval grading 0.119 ounces per ton gold (3.67 g/t) including 140 feet grading 0.242 ounces per ton gold (7.56g/t).
http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=15574201&topic=GSPG&symbology=null&cp=off&webmasterId=89753

************************
Announcements of GoldSpring Inc Properties in the Comstock Lode District of Nevada USA

Majority of Exploration by Drill Programs Occuring at the Hartford Complex/Lucerne Pit Deposit, Near State Highway 342, South of the village of Gold Hill, just North of the Storey County Line.

------ 2010 ------
Announces Behre Dolbear NI 43-101 Report, Validating Gold Equivalent Measured and Indicated Resources of 770,000 Ounces and Inferred Resources of 147,000 Ounces.
- May 18, 2010

GoldSpring Announces New Chief Executive Officer and Strategic Plan
PR Newswire - Apr 26, 2010

GoldSpring Commences 2010 Drilling Program
Earthtimes - Mar 31, 2010

Expands Mineral Holdings in the Comstock Lode District by 67%
- Jan 13, 2010

------ 2009 ------
Retains Moelis & Co as Exclusive Financial Advisor
- Nov 17, 2009
http://www.reuters.com/article/idUS139340+17-Nov-2009+PRN20091117

21% Increase in its Mineral Claims
- August 25, 2009

First Gold & Silver Mineral Reserve, Estimated at $604 Million
- May 15, 2009

Results of Six Exploration Drill Holes Include a 30 Ft Interval Grading 0.209 OPT
Invited to Present at 2009 RedChip Investor Conference in San Francisco
Modifies Permit to Process Gold & Silver at the Lucerne/Hartford Complex

65 Foot Interval of 0.123 OPT Gold & 2.23 OPT Silver at
140 Foot Gold Interval Grading 0.242 Ounces Per Ton at ts Hartford/Lucerne Deposit
Expands Hartford Hill / Lucerne Deposits
Finds High-Grade Gold & Silver From Recent Infill Driling Assay Results
Appointment of Mining Industry Executive as Independent Director
Latest Assay Results
Latest Assay Results

Adds Drills to Accelerate Drilling

------ 2008 ------
Investor Day Agenda
Television Broadcast
Open House Invitation for October 11, 2008
Investor Day October 11th at Its Comstock Property
Discuss Latest Resource Estimate During Radio Interview
- - -
Increase resource footprint
Expands Exploration Program
Results of Updated 43-101 Resource Report
Results of 43-101 Resource Report in Webcast September 16th
- - -
Invited to Present at Merriman Investor Summit
Releases Assay Results for 9 Additional Drill Holes
Renews Reclamation Permit
Enters into Agreement to Acquire Mineral Rights
- - -
Assay Results Demonstrate Continuation of Favorable Indications
To Appoint New Director
- - -
Assay Testing Continues to Produce Positive Results
Enters Into Definitive Agreements to Raise $2.5 Million Through Issuance of Senior Convertible Notes
Webcast of Special Investor Update
Results of Preliminary Interim Resource Report on Hartford Complex
Discovers Potential Bonanza Grade Ore at the Hartford Complex

------ 2008 Continued ------
Special Investor Update on June 10th to Discuss Significant Developments and Preliminary Findings of 43-101 Resource Report on Valuation of Company's Mineral Holdings in Nevada's Comstock Lode Mining District
Completes Drilling to Support Preliminary Resource Report for Hartford Complex
RedChip to Showcase the New Fisker Karma At Its 2008 Small-Cap Investor Conference in San Francisco Hartford Complex Assay Results Continue Positive Trend
Hartford Complex Assay Results Continue Positive Trend
Releases Positive Drill Results Froom Hartford Complex
Provides Results to Exploratory Drilling Holes 18-24
Additional Assay Results
Drill Results

Reports Positive Assay Results for Exploratory Drill Holes 8 & 9

GoldSpring, Inc. To Commence Second Round Of Drilling
Reuters Key Development - Jan 3, 2008

And SEC Filings at Company Website
http://www.goldspring.us/?act=pages&page_id=9

World Wide Web Video Audience 2010 to June

2010-06-06T17:09:00.001-07:00

http://goldspringinfo.blogspot.com/
http://www.goldspring.us/
http://www.youtube.com/GSPGvideo

http://comstockgold.blogspot.com/

http://Exploration-News.blogspot.com

http://www.youtube.com/GoldspringInc

http://www.youtube.com/Scheqky

http://goldspringvideo.blogspot.com/

http://goldspringdod.blogspot.com/

http://goldspringfacts.blogspot.com/

Property of Goldspring (GSPG) in Gold Canyon, NEVADA

2010-06-05T22:37:00.000-07:00

Property of Goldspring Inc (GSPG) in Gold Canyon south of the village of Gold Hill, Nevada in Storey County at the middle-south of the historic Comstock Lode Mining District. Tow lane blacktop State Highway 342 runs near the drainage line of historic Gold Canyon.

Dec 2007-2008-2009 Gold and Silver Exploration Program drilled many reverse circulation holes in the Hartford Complex - the area of historic Hartford Hill and the zones around it such as Billy The Kid Pit to the south, Lucerne Cut - open pit mine at the eastern base, elevated bench of ground southeast of Hartford Hill - Hartford South where is Billy's Bench.

Ore haul trucks have a 50 ton capacity.

Goldspring made economic purchases of used ore processing equipment.
Who is watching in last six months and where
RoundUp is the oldest continually occuring Mining Tradeshow. Many people attended at the Westin Bayshore Resort Hotel Convention Center adjacent to historic Coal Harbor. Photos are from 2010 in Vancouver just before the Winter Olympics.
Model of USS Constitution is celebrated in Canada in retail concourse of the Westin Bayshore Resort in Vancouver, British Columbia! Canada - Cool!

Who is watching in last six months and where

The Roman Empire discovered a mining district in a valley of Spain along the Rio Tinto River. It is still being mined to this day.

http://goldspringinfo.blogspot.com/

http://www.goldspring.us/

http://www.youtube.com/GSPGvideo

http://comstockgold.blogspot.com/

http://www.youtube.com/GoldspringInc
http://www.youtube.com/Scheqky

http://goldspringvideo.blogspot.com/
http://goldspringdod.blogspot.com/

http://www.goldspringfacts.blogspot.com/

AMERICAN FLAT NV PROCESSING CIRCUIT - Plays several videos
http://www.youtube.com/gspgvideo#p/c/AEB6B9FDBF17FD69

View all
http://www.youtube.com/gspgvideo#g/c/AEB6B9FDBF17FD69
___________________

DESIGN AND PLANNING - plays several videos
http://www.youtube.com/gspgvideo#p/c/B861BE6D3276F64A

DESIGN AND PLANNING View all
http://www.youtube.com/gspgvideo#g/c/B861BE6D3276F64A

GSN Symposium & R/C Drills on Goldspring's Comstock 5-24-2010

2010-05-31T22:22:00.000-07:00

Reverse Circulation Drilling on Goldspring's Comstock Monday 5-24-2010
GSPG shareholder video of current reverse circulation drill rigs in Gold Canyon south of the village of Gold Hill, Nevada in Storey County at the middle-south of the historic Comstock Lode Mining District.

He observated and recorded two drill rigs in Gold Canyon. One was apparently up the canyon from Drill Hole No. 54. The tower angle is slightly canted from plumb. The other drill truck is on the opposite side of the one paved road in Gold Canyon. Its drill tower appears to be set at an angle.

Notice some one pulling ore bags. A bulldozer is leveling earth to apparently create another drill pad (platform).

Goldspring drilling consultants have been busy. There are a many new holes in Lucerne Cut, what a topo map calls Lucerne Pit. During this visit drill rigs are working up the canyon, north of Hartford Hill.

Personel in vehicles were reviewing ore samples and running spectrolysis machine.

Geological Society of Nevada Symposium Goldspring Inc Presentation
The following was observed by a Goldspring shareholder.

Goldspring Inc Chief Geologist Larry Martin presented a talk with graphics

Slide 2
Newly recognized Multiple sub-parralel North trending fault zones are now collectively referred to as the Silver City Fault Zone. The individual faults within that zone include the Gold Canyon, Silver City, Billy The Kid, and Dry Creek?

Precious metals mineralization is structurally controlled by the Silver City Fault Zone, and a dipping quartz porphyry intrusive. Grades are enhanced by a series of northerly N50E striking and N70E striking fill structures that cross the Silver City Fault.

Slide 3
Photo looking down Gold Canyon, showing the Silver City Fault Zone and parallel N-S faults. From east to west: Gold Canyon fault, Silver City fault, and Billy The Kid fault. Nevada State Highway 342 (Virginia City-Gold Hill-Silver City) roughly follows the Silver City Fault.

Slide 4
Pictures of Billy The Kid Pit. Laser pointer indicates an exposed rock face.

Slide 5
Core samples labeled "76-5".

Slide 6
2007-2009 reverse circulation exploration project extensively drills the Hartford Complex.
The Hartford Complex consists of the historic
1. Billy The Kid Pit,
2. Lucerne Cut,3. Justice Pit, and the
4. Woodville Bonanza [accessed by a shaft short distance from Lucerne on opposite side of road].

Economic mineralization is hosted primarily in the
a. alta andesite and the
b. quartz porphyry, and to a lesser extent in the
c. meta igneous rocks.

2010 another assay drill program commenced at the Hartford Complex with two reverse circulation drill rigs and one diamond core drill rig.

Slide 7
Local geology.

Slide 8
Mineral deposition in arcuate features and structures. Goldspring has been compiling historic maps of the Comstock and Silver City underground workings. [Arcuate def: Having a curved profile.]

Regional imagery interpretation - specific lineaments and arcuate features were recognized. A comparison was made with the historic underground workings.

Slide 9
Drawings with legend of rock types along the fault zone of the historic workings. Section drawing depicts depth of the workings with color codes. Shallow workings are along the west footwall and deeper workings follow the dip of the Comstock to the east.
[Apparently this gives a reason as to why mineralization is closed to the west and open to the east down dip, north parallel to major faulting uphill and south downhill parallel faulting downhill.]

Slide 10
Historic drawings, probably from the late 1800s Becker Set, of underground workings in the middle of Comstock Mining District where Tee intersection of Sutro tunnel with its northerly and southerly laterals that parallel the Comstock Vein.

Slide 11
Satellite image of the South Comstock region in southern Storey County. Laser pointer indicates the Virginia Range of mountains that are west and north of the Silver City Fault Zone.

Presentation appears to indicate a continuation of the Silver City Fault zone structure into that direction. Collaborators of the paper believe the Silver City Lineament continues in that direction, while Gold Hill and Virginia City curve around to the north and slightly east, the fault zone 'points' past the Hartford Hill, across to northern end of American Flat, and into the hills to the North and West. There were arcuate features along both sides of this line to demonstrate the direction and continuity, and well as smaller arcuate features connecting and supporting the main Comstock fault that splits to the north/northeast just above the Hartford complex. This seems to be the crux of their hypothesis.
[2009 Goldspring Press Release cites discovery of mineralization in a northeasterly branch of the Silver City Fault.]

Slide 12
The numerical modeling was limited to the mineralized envelope that independently approximated the Silver City Fault zone.

Three dimensional variograms show the greatest continuity for gold along a 3-D angle of N65E plunging 60 degrees. The next greatest continuity has a vector of N25W, reflecting the strike of the Silver City Fault Zone.

Slide 13
Numerical Modeling indicates great possibly for down-plunge continuity of silver to be MORE related with the east-west and NE trending faults.

Gold variogram has a peak and significant dip, then rises again suggesting a cyclical period of 150 feet.

Slide 14
Horizontal cross-section modeled from drill hole data illustrates the dip of the vein structure.

Slide 15
Summary- The Virginia Range and Comstock mining district contain numerous arcuate features that have provided significant understanding about the deposition genesis of epithermal precious metal mineralization. The realization of arcuate structures has provided valuable insight as a guide for successful exploration, modeling and development of Goldspring's Comstock project.

Slide 16
Results are confirmed by Behre Dolbear's NI 43-101 Resource Report. The report published May 17,2010 found Goldspring's modeling procedures to be reasonable.

http://GoldspringInfo.blogspot.com
http://www.Goldspring.us
http://www.youtube.com/GSPGvideo

36 Exploration Targets Already Identified

2010-05-02T20:03:00.000-07:00

"36 exploration targets already identified by our geologic team"
- - Form 10-K for GOLDSPRING INC 2009 Annual Report (2009 Annual)
- - refer to SEC Filing data and information provided by EDGAR Online, Inc. for 12-Apr-2010.
The following may provide educational assistance to understand the value of the above quote.

30 Red Holes + 6 hi-end Orange Drill Holes = 36
for instance an Orange Hole having significant vertical feet (many multiples of 5 ft intercepts) with grades of .2 OPT-Au (ounces per ton of gold) such as one exploration assay drill hole above No.100 that has 120 vertical ft at .2 OPT-Au.

Red Hole = Gold grade exceeding .5 OPT
Orange Hole = Gold grade at .5 OPT down to a tad above .2 OPT
- - refer to SEC filing of a Drill Hole Map in Gold Canyon, south of Gold Hill, NV posted after the March 24, 2009 RedChip Conference at downtown San Francisco.

The video after this post that identifies 30 Red Holes.
Then again - one drill hole (DH) may have more than one target. Two or more targets may be at different depths and separated by layers of lithology, bedding planes, with weak to negligible to nil mineralization.

A "Target" is a zone that is definitely a goal for a mining operation.
Geological zones are three-dimensional.
Drill Holes are one-dimensional. They are a line approx. 3-1/2" to 5" in diameter separated from other assay lines by 400 ft, 200 ft, 100 ft or 50 ft.
If an assay reveals interesting data, additional holes may be drilled near a high interest hole. An additional hole may start as close as 18" - 36" away from an original "discovery" hole. Often it will plunge at a different angle to determine the extent of interesting geology.

If the original drill hole was "plumb" (90 degrees to surface of Earth), the secondary hole maybe tilted away from plumb by as much as 30 degrees. Such an angle would be called "60 degrees" from the horizontal plane incident to level of the drill rig platform. 60 deg down from the level horizontal plane + 30 deg to plumb = 90 deg. "Plumb" = theoretical line from center of the Earth to a point on a theoretical plane at surface of the Earth such that the plane of incidence is "level" - perpendicular to the plumb line in all 3-D directions.

A canted drill hole can vary from plumb in any downward direction - imagine a cone starting at the surface widening as depth increases. A secondary hole can angle to any point of the compass at an angle different from the original hole for the purpose of finding more information including continuation (continuity) of a cohesive zone of mineralization or its boundary.

As you look at a drill hole map, you will see double and twin holes, maybe even triples. The additional holes in a drill fence are those secondary holes wanting to investigate items of interest. Items of interest are more than precious metal deposits. There may be a desire to also explore the lithology (geological rock structures), bedding planes, fault structures, anomalies - data of such items give clues concerning the genesis of the mineralization and geology. With a defined understanding of how a volume of Earth was formed, altered and intruded - there can be better prediction of where to drill next for an economical use of time and money.

A "drill fence" is a row of drill holes.
Initial exploration for a "resource" may space holes along a line at 400 ft on center. With a better budget spacing maybe be 200 ft on center hoping to locate one or more "targets". Once targets are found, closer drilling (infill) will probably occur at intervals of 100 ft or closer.

The Canadian government has instituted a "National Instrument", a data package guideline for geology (NI43-101) that defines minimal spacing of assay drill holes for 5 different brackets of ore predictability located within two major groups.
A. Reserve has 2 subdivisions having the highest predictability of ore.
_ _ 1. Proven (closely spaced DH & substantial economic analysis - best def in this group)
_ _ 2. Probable

B. Resource has 3 subdivisions
_ _ 1. Measured (close spacing of holes & significant analysis - best definition in this group)
_ _ 2. Indicated
_ _ 3. Inferred (wide spacing of drill holes – assurance of statements is related to the character of the party making ascertains.)
Often Canadian company declarations are "M+I" Resources (Measured and Indicated). Often I see the two sub-groups bundled together in an initial flyer or brochure of a mining or exploration company. In-depth documents will further state Measured and Indicated separately. Not too often do I see Reserve statements for exploration companies, more often only ReZource data. (Canadians make a strong "Z" sound for ReZource. They call their "Z" character "Zed".) Mid-size and larger mining companies will publish updates to their Reserve in journals.

Inferred is the loosest definition and I have always seen it displayed separately if there is M+I.

Looser yet are the terms "mineralization" and "deposit".
Mineralization can mean the presence of any mineral even at very weak grades.
Technically a "deposit" is/are mineral/s emplaced in an area of the Earth.

"Ore" is a term that can only be used with mineralization that can be extracted from the Earth at an economic profit.

Hence very weak mineralization can not be called "ore". Hence "ore" can only be declared after a "Feasibility Report" or some recognized system to estimate predictable profit. Feasibility Reports are created by certified third party analysis by a prescribed code of standards. Numerous exploration companies cite "pre-feasibility studies" as a basis to declare a preliminary potential value. Pre-feasibility studies are more economical to produce rather than a full scale Feasibility Report. It seems many cash lean exploration companies state their pre-feasibility study to entice acquisition by a mining company therefore never needing to pay for a Feasibility Report.

Miners are very strict to not confuse the terms concerning the economics of mining. Scammers often seek to confuse, blur or obfuscate those boundaries. The NI43-101 was formulated to eliminate scamming and qualify ore deposits to instill investor confidence since Canada's prosperity is formed in large part by its natural resources. A number of senior Canadians involved in different aspects of mining have told me, "It will take a whole generation to get over the scare of Brea-X," shaking their head with a resolute whoa!

Once again Goldspring has declared in writing stored in an SEC filing, the 2009 Annual,
"Our strategic plan also calls for a program of exploration drilling on the 36 exploration targets already identified by our geologic team, throughout our extensive land holdings in the Comstock Lode district."

Remember the "450 historic holes" cited in a summer 2008 GSPG press release? Goldspring Inc’s July 28, 2004 SEC filing identifies 450 holes drilled in prior decades by other companies. Additionally it seems reasonable that Goldspring would coordinate with geological data as far back as the 1800s USGS and mining company documents. The first geologic investigation by the newly formed U.S. Geological Survey (USGS) was of The Comstock after 1870. Of great interest to this day are the maps made by Mr. Becker. The historic data seen through modern knowledge may contain or give geologic clues to the existence of telltales for any number of targets.

At page 301 this book briefly outlines exploration programs in the second half of the 20th Century
The history of the Comstock lode, 1850-1997 By Grant Horace Smith, Joseph V. Tingley
http://books.google.com/books?id=w_XxtccoD0UC&pg=PA305&lpg=PA305&dq=united+mining+new+savage&source=bl&ots=v8NxLq9-rI&sig=vxjlDcaUIDiwVVx3sZikK8kfZgo&hl=en&ei=ViHfS9CwHo38tAOc8uTEBg&sa=X&oi=book_result&ct=result&resnum=1&ved=0CAYQ6AEwAA#v=onepage&q=united%20mining%20new%20savage&f=false

Series of photos about the leach pad uphill from Goldspring mine office at American Flat

+ "The Company will accelerate our program to catalog and digitize our library of historic mining maps and reports, so that our team can leverage the knowledge accumulated by over 150 years of mining experience in the Comstock Lode." - 2009 Annual.

+ "We will continue to increase our footprint in the Comstock Lode district by staking or leasing mining claims with potential for exploration success."

Hence the reason for GSPG to acquire mineral rights on 7788 acres, two thirds of the Comstock Lode Mining District.

It seems a best plan is about to be revealed with world class team players such as stated in the Goldspring 2009 Annual Report:

+ "Moelis & Company is a global investment bank that provides financial advisory services and capital raising solutions to a broad client base, through its offices in New York, Boston, Chicago, Los Angeles, London, and Sydney." (More about Moelis in posting prior to this one located at the end of this post.)

+ Existing investors with a long-term belief in the future yield of the Comstock continue to risk their money/credit. "The financing is being provided through a consortium led by an existing shareholder, who is an accredited investor."

+ "Symmetry worked with our Directors, senior management, and technical team to establish a united goal for the company, draft a detailed strategic plan, backed up with detailed schedules and spending estimates required for achieving the goal."

"…Symmetry Advisors Inc. to guide senior management through a planning process to build a detailed and optimized plan to further explore our Comstock Lode properties, return the mine to production, and unlock the maximum value of the project for our shareholders."

The term "unlock" raises my hope to release Goldspring common stock to a value fair with its potential. That goal can be accomplished with the removal of hindrances to that goal. Part of the solution to be listed with an national exchange in the USA and/or Canadian such as the AMEX, Toronto Venture, NASDAQ, Toronto and/or NYSE. Toronto, Canada and its two exchanges are the Mining Capital of the World; hence many mining companies seek double listing with their home country and a Toronto exchange.

"55% of all mining transactions worldwide occur through Toronto. It would be 70% were it not for occasional, very large transactions on the New York Stock Exchange. It is our goal to further increase global transaction share to 70% within 5 years," PDAC President at the annual PDAC Convention in Toronto in March 2010 at main conference luncheon.

Hence listing on a Toronto exchange gives Goldspring a growing maximum global exposure for investments.

= "the validation of mineralized material containing over 3 million gold-equivalent ounces within three years." – Goldspring Annual Report 2009.

+ "drilling programs will be managed by Larry Martin, CPG, our Chief Geologist."

+ "drilling rigs and crews supplied by George DeLong Construction, Inc., of Winnemucca, Nevada."
___ a. "52 infill holes" [reverse circulation (R/C)]
___ b. "second drilling program will drill six core holes, using a diamond drilling rig and crews supplied by KB Drilling, of Moundhouse, Nevada."
________ "The [diamond] core[s] will be used for metallurgical testing, needed for final design of the processing flow sheet,"

Refer to preliminary milling circuit diagram in a 2009 filing. With a year more of analysis since and a stronger funding package, it is plausible that the current design of milling circuits, high-grade and low-grade bulk from Heap-Leach, could have adjustments from last year's plan - such is design - it evolves!

Additionally "final design of the processing flow" makes me think of understanding mineralization matrices to determine the proper design for the high grade milling circuit with flexibility to tweak the concentration mechanisms as the ore varies in different parts of the ore body - something that is done continually in the big mines to achieve 92% and greater recovery even with sulphides.
= "The information from these drill programs will be used to develop a detailed mine design for reopening the mine, and to fine-tune our mineral processing procedures to maximize gold and silver recovery."

Ball mills that grind to 100 mesh (100 square holes per square inch by wire screen) is a granulation similar to talcum powder. Major miners have been working with 200 mesh just to get 1-2% more recovery. Such fine grains can have relatively rapid liberation of precious metal from its mineral encapsulation. For instance 5 times faster than B-B size ore.

In the historic Comstock there were numerous instances of so much native gold that stamp mills would clog - the soft gold metal would stick to other chunks of free gold clumping into masses rendering useless the stamping/crushing of ore rocks. Often where occurrences of stopping 5 and 10-stamp gravity hammer mills to clean out the mangled mess of gold in the collector pans and clinging to and flailing around 1 or 2-ton stamps.

Modern metallurgy has devised detection systems to divert such ore to different processing circuits! Even then it does not always work. In 1992 a mill of the Motherlode near Jamestown, California stopped working at midnight. The automated equipment did have enough intelligence to stop. The one man supervisor was alerted. After inspecting the line he found a nugget of a rare form of free gold intertwined in beautiful white quartz, 18 inches long by 10-12 inches wide by 6-8 inches thick, one of the largest in the world. The milling equipment had reduced the nugget to one third of its original size. Prior to entering the mill the nugget was estimated to be three times larger based upon the remains. The remnant was not allowed to leave the State of California by the purchase of the owner of the Ironwood Vintners and Winery in the beautiful countryside near Murphys, California who put it on display in a walk-in vault on the side of their museum, fascinating bookstore and precious metal gift shop.

Virginia City has at least 10 fascinating museums, 2 bookstores accumulating a wealth of literature concerning the innovations of the Comstock that pioneered the modernization of mining, American literature, western culture for theater, spawning ground for spin-off industries such as Levi jeans and profits became foundational for the growth of other developments such as many grand hotels, mansions and public works in San Francisco, ever increasing logistical supply and follow through of data and finances from many countries around the world for the San Francisco Stock Exchange, designing and laying the first Trans-Atlantic Cable for what became American Telephone & Telegraph (AT&T).
+ "Dennis Anderson, PE, Senior Engineer" consultant for liasons with government such as "Nevada Division of Environmental Protection (NDEP)."

:: "strategic plan also calls for a program of exploration drilling on the 36 exploration targets already identified by our geologic team,"

"Strategic" usually implies long range, overall, comprehensive versus "tactical" response to the immediate. Strategic plans require imagination based on senior experience from many counselors. Strategic plans create the guideline skeleton that is fleshed out with the tactical implementations.

"extensive land holdings in the Comstock Lode district" … "7788 acres" – Jan 13, 2010 Press Release

"GoldSpring Expands Mineral Holdings in the Comstock Lode District by 67%"
http://www.prnewswire.com/news-releases/goldspring-expands-mineral-holdings-in-the-comstock-lode-district-by-67-81317362.html
about 2/3 rds of the mining district from Storey County southern border uphill into Gold Hill and further uphill to an approximate East-West line into Virginia City , a surfical elevation difference of approx 1,000 feet for a distance of about 3 miles approximately centered on Gold Valley where Nevada Route 342 runs near the drainage line.

In the Goldspring Annual Report is a table of financial data. I am reminded of Thomas Alva Edison who incessantly performed over 2,000 tests of filament, bulb designs, electrodes, conductor bases and chamber gases before the world’s first electric light bulb was successfully lit. Great success is not without cost of resources: time, financial, practical and intellectual (every one that can be found to join) and perseverance. Inner belief and vision led Edison past several thousand attempts for the right formula that was only the preliminary, first pass success for a light bulb. Designs have never ceased since. Did you ever see the film footage of Mr. Edison jaunting between several large laboratory tables, barking orders at numerous engineers, technicians, and scientists at each table developing an experiment? Did you see the look on his face? Reminded me of the Wizard of Oz behind the curtain.
.. "Our Company is an Exploration Stage enterprise as defined by SEC Industry Guide 7, and, in accordance with SEC Industry Guide 7, infrastructure expenditures such as haul roads, leach pads and start-up costs and all drilling were expensed."

My review if IG7 indicates to me that the IG7 grants much latitude describing profitable mining as compared to specific standards in the Canadian National Instrument 43-101. So a hybrid of requirements from two world leading national Security Exchange Commissions would be optimal for shareholders providing different angles of transparency similar to infill drilling at different angles of observation. Having Resource-Reserve analysis satisfactory for both countries with the longest friendly border in the world could be a provision for double listing on two different national stock exchanges.
.. "produced 16,175 ounces of gold and 68,514 ounces of silver between 2004 and 2006, from our test mining operation."

approximately 1:4 gold:silver, hence the term "gold equivalent is used to put the combination of gold and silver into one value for the purposes of easy analysis, a method that is coming into vogue as depicted by major mining companies concerning their resource-reserve depicted in major mining journals and company brochures at trade shows.

.. "We acquired a mining lease for nine patented mining claims and sixteen unpatented mining claims for our Comstock Lode project from Railroad and Gold, LLC."

There are a number of land owners in the Comstock, some of their claims continuously passed from original generation to generation in hope of finding more gold and silver, but as is evidenced by their history, it seems unlikely they will be able to mine on their own, so joining with the juggernaut of Goldspring Inc seems a path of least resistance to achieve long buried dreams.

+ "The claims include a number of high quality exploration targets ... and the under-exploited Caledonia area,"

"Targets" can mean high grade ore. Many people will not dispute that high grade ore begins with grades of .2 OPT-Au and higher. Some miners will call bonanzas "targets". The 2010 infill drilling program could double-check what are the proper validated grades for a selection of the targets so as to provide undisputable evidence for a 3.25 MOZ-Au Equivalent of resource-reserve, a collection of "targets", "low-hanging fruit" – Robert Faber Director, "easily picked plums" – John Mackay, leader of the Consolidated Virginia Mining Company 1874 who developed into one of the wealthiest people in the USA progressing into other projects of great magnitude.

Many Canadian companies thrillingly admit locating resources near a major mining company operation with an intent to be acquired by their well-to-do neighbor, but the language of Goldspring reports intone to me a message that they plan to develop into a junior mining company and still maintain a department for exploration and study of the Comstock Lode with 3-D mapping to the deepest and widest extents possible.

+ "three town lots in Gold Hill, Nevada...The property is adjacent to our northern extension exploration target."

"In" the little village versus way down hill, 2 miles away at the Hartford Hill Complex where much drilling in 2008-2009 near the county line just north of Silver City, Nevada.

+ "We focused on accumulating ...properties with the ... water rights needed for mining...the Sutro Tunnel Lease..."

"Sutro Tunnel Co." still around since the late 1860s. "Adolf Sutro, A Biography" is an awesome book of how a man became great by the principle of perseverance with "truth against the world" - Frank Lloyd Wright motto and big payoff in the second half due to a life sowing good works.

1800s Historic mining properties cited in the 2009 Annual:
"Overman"
"Caledonia"
"Gold Hill"
Did you see the myriad of buildings crowding and separated by twin iron bands of railroad rounding tight turns, eclipsing views till further explorations like Industrial Revolution England in the photo at the Nevada State Museum in Carson City across from the Nugget Casino? 7/24 noise chugged, whistled, clanged, hissed and pounded out by five types of steam engines: hoist works wenches, billows the size of small homes to pump air down to levels twice as deep at Mt. Davidson above ground, locomotives local and regional, mill line shafts to pulley and belt, and stamp mills slamming quartz with gold particulate matter.
"Occidental" mine
+ "In the fourth quarter of 2009, we staked 165 lode mining claims in an area we called the "West Lode"."

+ "extended the project footprint significantly to the northwest."

Reaching way over into "Washoe County", a county line somewhere in the Virginia Range. There is a historic drawing in the Nevada State Museum drawn from atop a hill east of the Lucerne Pit looking down to American Flat depicting many village-like houses and buildings tapering fewer northwestward up two different draws counting maybe over a hundred buildings. American Flat was its own town then.

+ "At the end of 2009, our mineral estate in our Comstock Lode project includes 78 patented mining claims and 304 unpatented mining claims, totaling 5,200 acres." – 2009 Annual.

+ "GoldSpring's Comstock Mine Project now includes a mineral estate of 7,788 acres, including 776 acres of patented mining claims, and 7,012 acres of unpatented mining claims administered by the Bureau of Land Management." - Jan. 13, 2010 Press Release – "GoldSpring Expands Mineral Holdings in the Comstock Lode District by 67%"
http://www.prnewswire.com/news-releases/goldspring-expands-mineral-holdings-in-the-comstock-lode-district-by-67-81317362.html

:: "December 2007 .. February 2009. We drilled 182 reverse circulation (RC) holes at the Lucerne / Hartford Complex, totaling 92,800’ of drilling. Each drill hole was sampled on five-foot intervals" – 2009 Annual.

= 509.89 ft = average length per hole = (92,800 total ft / 182 R/C holes)
= 18,560 intervals = (92,800 total ft / 5 ft per interval)
= 55,680 assay bags = (18,560 intervals x 3 bags per hole)
____ 1. for "American Assay Labs"
____ 2. for Goldspring in-house research
____ 3. for untouched control reference sample, cross-check available for reference if there is questionable discrepancy between third party lab assay and Goldspring's self test.

18,560 bags of rock chips is a great amount of study

= 18,560 nodes in a 3-D array, each node analysed by ‘connect-the-dots’ software of TechBase with much study by people of senior experience with several different perspective vantage points.

+ "certain intervals were performed by ALS Chemex Laboratories, a second certified, independent commercial laboratory"

++ ""discovery hole", encountering 30 feet of mineralized material averaging 0.209 ounces per ton gold, and 0.992 ounces per ton of silver...in Spring Valley...found beneath just 40 feet of pediment". Discoveries" are the exciting findings of mineral treasure hunts, whole mines can be founded upon a "discovery". [an Orange Hole].

++:: "Techbase International, of Morrison, Colorado, to develop a three dimensional model of the mineralization in the Hartford Complex. The model used the assay information from the 182 newly-drilled drill holes, plus 514 holes drilled by previous operators."

= 696 drill holes used to assay three dimensional subterraneous volumes.

+ "Techbase software was used to geostatistically estimate gold and silver grades into a set of 10x10x10' cubes, in a project volume of 4,110' E-W, 4,510' N-S, and 1,200' vertically."

1,000 cubic feet = 10 ft cube = 10 ft wide x 10ft high x 10ft deep

4,110 ft x 4,510 ft x 1,200 ft = 22,243,320,000 = 22.243 billion cu ft

22.243 million cubes = 22.243 billion cu ft / 1,000 ft per cube (What a Rubics!)

1 cubic acre = 208 ft wide x 208 ft long x 209 ft deep = 9,042,176 cu ft = 9.04M cubic feet per ac
22.243 billion cu ft / 9.04M cu ft per cubic acre = 2,460 cubic acres!

The average depth of drill holes is 509.89 ft.

509.89 ft / 209 ft depth per cubic acre = 2.4397 acres deep

2,460 cubic acres modeled / 2.4396 acres deep = 1,008.335 surface acres

The Comstock is approximately 9,000 to 12,000 acres.

It may be said that Goldspring has estimated a model for 10% surface of the Comstock to a depth of 510 feet. Many historic mines extended 2,000 foot deep or deeper.

ELEV = feet above sea level

6240 ELEV at Virginia City, Main Street ("C" Street)

5840 ELEV at Gold Hill, Nevada, 1.x miles down the road from Virginia City (400 ft decline)
http://nevada.hometownlocator.com/nv/storey/gold-hill.cfm

5260 ELEV at Lucerne Cut below Hartford Hill next to Hwy 342 & Storey Cty line (580’ decline)
5240 ELEV low contour - 5280 ELEV high contour at Lucerne Cut :: 5260 ELEV = avg

- - Edge of Lucerne Pit is one mile high above sea level, similar to Denver, Colorado.
- - On-line map w/contour Intervals every 40 vertical feet, major intervals every 200 vert ft.
http://msrmaps.com/image.aspx?T=2&S=11&Z=11&X=678&Y=10875&W=1&qs=Hwy+342%7cGold+Hill%7cNevada%7c&Addr=SR-342%2c+Silver+City%2c+NV+89428&ALon=-119.6357357&ALat=39.2573216

5400 ELEV at mine in Silver City, Nevada depicted in recent SEC filing

5080 ELEV at Silver City, Nevada

4400 ELEV at Sutro Tunnel west end "T" intersection with Comstock Vein
- - from book "Adolf Sutro, A Biography" by Robert and Mary Stewart 1962 Howell-North
- - Sutro Tunnel travels eastward 20,173 feet to opening at Sutro City near Dayton.

Mines would label their adits, drifts and tunnels in relation to a "Level", their depth below surface, for instance the 1200 foot level, 1650 foot level or just say "the 1800 level" or just "at 2,000…". Levels are imaginary, horizontal, level lines used for reference - seen in the section drawings of the Comstock ore bodies/bonanzas.

The Sutro Tunnel T intersection with its East and West Laterals at Foot Wall is at the 1650 Level.

4400 ELEV = 1650 Level :: 1650 + 4400 = Zero Surface Level = 6,050 ELEV
- - 210 feet above Gold Hill benchmark and 190 feet below Virginia City, Main Street.
- - Most Virginia City mines where downhill from C Street. A shaft opening is the -0- Level.

4,050 ELEV = the 2,000 ft lev = avg deepest for most mining operations in the 1800s Comstock

Goldspring has modeled 2,460 cubic acres to an average depth of 510 feet probably from the inclined surface of the Comstock from Silver City to a spot in the village of Gold Hill (approx 2 miles).

208 ft = width of a square acre, so imagine a swath 1200 feet wide, the width of many mining 1800s operations, so 6 acres wide in Gold Canyon is a swath x 2 miles long.

208 feet per acre x 6 acres = 1,248 wide is a preliminary swath

2 miles x 5,280 ft per mile = 10,560 feet long

10,560 ft long x 1,248 ft wide = 13,178,880 sq feet = 304.61 surface acres

7788 GS Mineral Estate acres - 305 acres = (7,483 acres not in this tabulation!)

305 surface acres x "X" acres deep to the 2000 Level = "Y" additional cubic acres by going deeper with no change to surface acres.

Since the terrain is a significant slope from Silver City to Gold Hill:

5840 ELEV at Gold Hill - 4,050 ELEV of the 2,000 foot level = 1790 ft vertical distance

5120 ELEV at upper Silver City - 4,050 ELEV of the 2,000 foot level = 1070 ft vertical distance

1070 ft to 2000 Level / 209 ft deep per cubic acre = 5.12 acres deep

5.12 acres deep x 305 surface acres = 1,561.48 cubic acres

Now add the incline surface up to Gold Hill.
5840 ELEV - 5120 ELEV = 720 foot vertical difference; / 2 for area of a triangle = 360 vert feet.
360 vert feet / 209 ft deep per cubic acre = 1.72 acres deep

1.72 acres deep x 305 surface acres = 525.36 cubic acres

1,561.48 cubic acres + 525.36 cubic acres = 2,086.84 cu ac under ‘swath’

Goldspring has modeled 2,460 cubic acres to an average depth of 510 feet

Their area must be much wider, way out to the northwest of American Flat.

510 vert feet / 209 ft deep per cubic acre = 2.44 acres deep

2,460 cubic ac modeled / 2.44 ac deep = 1,008 surface ac, approx 10% of Comstock

2 miles long (10,560 feet long) / 208 feet long per square acre = 50.769 acres long

1,008 surface acres / 50.769 acres long = 19.854 acres wide

19.854 acres wide x 208 ft per sq acre = 4,129.74 feet wide (if a rectangle and not irregular)

19.854 acres wide x 50.769 acres long x 2.44 acres deep = 2,458.45 cubic acres

Back check matches similar volume: Goldspring has modeled 2,460 cubic acres

Area of 3-D modeling estimate: 19.854 acres wide x 50.769 acres long = 1008 surface acres

Area of 3-D modeling estimate: 0.782 miles wide x 2 miles long = 1.564 square miles

These are speculative abstractions in order to visualize the magnitude of Goldspring Exploration.
Goldspring Inc (GSPG) publications of data will no doubt have irregular boundaries with full terrain modeling verified by topography studies.

Please note - little is known about the next 2,000 foot deep layer from 4,050 ELEV to 2,050 ELEV.

A diamond drill extending 3,200 feet deep from Lucerne Pit’s 5280 ELEV could possibly dig to 2080 ELEV, nearly 4,000 feet below the Zero Level (6050 ELEV – 2080 ELEV = 3,970 vertical feet) to see how deep is the Comstock mineralization.

The Sutro Tunnel at the 1650 Level is 350 ft higher than the 2000 Level.

Maybe there will be exploration of the deeper parts from the Sutro Laterals? It is large enough for a pickup truck to drive safely. There are underground drill rigs.

4400 ELEV at Sutro Tunnel - 3,200 feet diamond drill = 1200 above sea level.

4580 ELEV at bottom of Lake Tahoe (6,225 average surface elevation - 1,645 ft maximum depth)
- - is the second deepest lake in the U.S. http://tahoe.usgs.gov/facts.html

4800 ELEV in Carson City, Nevada Forest Service office. Bottom of Lake Tahoe is 220 ft deeper.
Returning to good news in the 2009 Goldspring Annual Report

+ "engaged Behre Dolbear, a mining consulting firm based in Denver, Colorado, to review our mine model, and to produce a technical report compliant with the Canadian NI 43-101 standard. The 43-101 standard is not recognized by SEC Guide 7, but this report is expected to help us attract international mining investors, who are accustomed to evaluating projects through this standard. The report is expected to be complete in the second quarter of 2010."

+ "engineering consultants at Telesto Nevada, LLC, and Enviroscientists, Inc, both of Reno Nevada."

+ "Robert Reseigh was appointed to serve as interim Chief Executive Officer (CEO)." His resume is next in this blog. "a recognized expert and independent consultant for tunnel, shaft, and mine development projects. He has over 40 years of experience in the mining and underground construction industries."

"Corrado De Gasperis has been named Chief Executive Officer and President of the Company, effective...April 26, 2010."

"…computerized definition of the mineralized material was used to develop a mine plan, and estimate the economics for a proposed mining and processing operation."

Bob Reseigh Resume - Among Most Knowledgeable for Underground Workings

2010-04-10T21:11:00.000-07:00

Robert A. Reseigh, Vice President Tunnel Group

Bob Reseigh’s expertise in underground construction developed from a career that spans more than 40 years. His role at the Barnard Companies is to oversee the expansion of our work in tunnel and shaft construction and rehabilitation. Following graduation from the Colorado School of Mines in 1968 with a Masters degree in Mining Engineering, and service in the U.S. Army, Bob joined Peter Kiewit Sons and worked his way up through the field ranks of Project Engineer, Superintendent, Project Manager, and Estimator before being promoted to District Manager, Vice President, and Area Manager. Bob retired from Kiewit after 18 years, and decided to join Atkinson Construction in the capacity of Executive Vice President where he ran the Underground Group for 15 years prior to joining Barnard Construction.

Mr. Reseigh built his career specializing in underground construction, both domestically and overseas. He is one of the most experienced and knowledgeable individuals in the country in deep shaft and drill and blast tunnel work, having been responsible for in excess of 6 miles of shaft sinking and 55 miles of tunnel/horizontal mine development in his career. In addition, his work has involved both mine development and heavy civil projects, including subways, outfalls, railroads, dams, pump storage, water and sewer, marine construction, and municipal work. At Barnard, Bob has proven invaluable in our strategic planning, new business development, estimating, field operations, and client contact. He also provides leadership and training to our team of experienced and new engineers.
http://www.barnard-inc.com/WhoWeAre/OurPeople/KeyPersonnel/tabid/73/Default.aspx
ASSAY DRILLING 2010 of COMSTOCK by GOLDSPRING INC 3-29-2010 by Diamond Drill Rig and Reverse Circulation Drill Rigs

Recordings of one Diamond Drill Rig and two Reverse Circulation Drill Rigs in operation on March 29, 2010 recorded by shareholder from the public way of State Highway 342 road shoulder. Coordinate video news with Goldspring Inc. Press Release concerning 2010 Assay Drill Program in the South Comstock in Gold Hill, Storey County, Nevada for GSPG properties of the Hartford Complex containing Lucerne Pit next to the state highway running through Gold Canyon, Billy the Kid Pit up higher further from the road to the southwest and other historic claims uphill and north and east, northeast and uphill, some drilling for geotech concerning soil composition.

This is good news concerning their progress to delineate ore for mining operations declared to commence in 2011. Apparently funding shall be available due to Kenneth Moelis financial brokerage, who advised a 200:1 reverse split of GSPG.OB common stock to attract investment capital for production operations. Google map: State Road 342 Gold Hill, NV 89440

A reverse split approved by shareholder voting will apparently give Goldspring one of the qualifications to list on a national exchange. 200:1 Reverse Split of Common Stock was not a public discussion by Goldspring until recommended by recent financial advisor, Moelis and Company.
---

Ken Moelis and Company leading efforts to restructure Dubai's $26 billion of debt.
His company previously worked on restructuring Dubai World’s Las Vegas assets.
Kenneth Moelis is a former UBS AG investment banking President.

Moelis Replaces Deutsche Bank as Dubai World Adviser (Update2 ...

Dec 1, 2009 By Arif Sharif and Serena SaittoDec. 1 (Bloomberg) --

Dubai World, the state-owned holding company in talks to restructure $26 billion of debt, hired Moelis & Co. as one of its advisers, replacing Deutsche Bank AG. Investment bank NM Rothschild & Sons Ltd. will continue to work on the debt talks alongside Moelis, the advisory firm started by former UBS AG investment banking President Kenneth Moelis, state-owned Dubai World said in a statement today.

The Dubai-based company, led by Sultan Bin Sulayem, said today it’s in “constructive” talks with banks about the debt. The government’s Financial Support Fund is leading the restructuring of Dubai World and last week named Aidan Birkett, a partner at Deloitte LLP, as chief restructuring officer. Dubai picked Rothschild to help set up the $20 billion pool in April. Creditors of Dubai World and its property unit Nakheel PJSC will be asked for a so-called standstill agreement and to extend loan maturities until at least May 30, including that of a $3.52 billion Nakheel Islamic bond due Dec. 14.

Ken Moelis, 51, will lead the firm’s efforts, the firm’s London-based spokesman said in an interview today. The company previously worked on restructuring Dubai World’s Las Vegas assets. http://www.bloomberg.com/apps/news?pid=20601104&sid=ar8SMbjc5V4g
A Middle Eastern Kingdom chooses to work with Jewish financial advisors.

Dubai chooses to climb out of Great Recession with Moelis versus a national bank.

Robert Reseigh's Biography
Robert A. Reseigh Vice President Underground Construction Group Bob Reseigh's expertise in underground construction developed from a career that spans more than 40 years. His role at the Barnard Companies is to oversee the expansion of our work in tunnel and shaft construction and rehabilitation. Following graduation from the Colorado School of Mines in 1968 with a Masters degree in Mining Engineering, and service in the U.S. Army, Bob joined Peter Kiewit Sons and worked his way up through the field ranks of Project Engineer, Superintendent, Project Manager, and Estimator before being promoted to District Manager, Vice President, and Area Manager. Bob retired from Kiewit after 18 years, and decided to join Atkinson Construction in the capacity of Executive Vice President where he ran the Underground Group for 15 years prior to joining Barnard Construction.

Mr. Reseigh built his career specializing in underground construction, both domestically and overseas.

He is one of the most experienced and knowledgeable individuals in the country in deep shaft and drill and blast tunnel work, having been responsible for in excess of 6 miles of shaft sinking and 55 miles of tunnel/horizontal mine development in his career. In addition, his work has involved both mine development and heavy civil projects, including subways, outfalls, railroads, dams, pump storage, water and sewer, marine construction, and municipal work. At Barnard, Bob has proven invaluable in our strategic planning, new business development, estimating, field operations, and client contact. He also provides leadership and training to our team of experienced and new engineers.

Barnard Construction Co. Forms Tunnel Group
Formed in 1975 and established as a heavy civil contractor specializing in dam, reservoir and pipeline construction, Barnard Construction Co. has recently formed a tunnel group to address an increasing workload in the areas of shaft building, tunneling and underground construction. Key personnel include:
Bob Reseigh, Tunnel Group Advisor: Resigh has 40 years of underground mining, engineering and management experience in the heavy civil and mining industries. An alumni of the Colorado School of Mines (1968), Resigh has participated in the construction of 60 miles of tunnels and shafts.
http://www.tunnelingonline.com/departments/archived/2008/bb/04-businessbriefs.php

Tunneling Evaluation
Section 1: Tunneling Evaluation
Section 2: Credentials of Mr. Robert A. Reseigh

RESUME OF ROBERT A. RESEIGH
Pages 47 - 51 (6 pages of history over 40 years)
Underground Construction, Consultant – Tunnels, Shafts, Mine Development

EDUCATION
Colorado School of Mines, Master of Science, Engineer of Mines, 1968

AREAS OF EXPERTISE
Bob Reseigh's expertise in construction developed from a career that spans more than 40 years and includes specializing in underground construction, both domestically and overseas. He is one of the most experienced and knowledgeable individuals in the country in deep shaft and drill and blast tunnel work, having been responsible for in excess of 6 miles of shaft sinking and 55 miles of tunnel/horizontal mine development during his career.

WORK EXPERIENCE
2005-Present Consultant.
Tunnels, Shafts, Mine Development Projects

1990-2005 Atkinson Construction Company. Lakewood, Colorado
Executive Vice President. Complete responsibility for all construction projects performed by Atkinson, a subsidiary of Clark Construction, Bethesda, MD.

2005-2007 McCormick Place West Hall Expansion Storm Water Tunnel. Chicago, Illinois.
This design/build project for the expansion of the downtown convention center provides a storm water drainage system for the new complex. The tunnel was constructed via a TBM and consists of 3,450 LF x 12.5-FT diameter. The project also included 300-FT of drop and outlet shafts. (Jim Golden, Goldspring COO was the design engineer on this project while Reseigh was the Project Director.)

2005-2007 West APM Tunnel. Washington, D.C. Automated People Mover Tunnel constructed on the west side of Dulles Airport to provide rapid passenger transport from the main terminal to Concourse B. Required the construction of 2,250 LF of cut and cover tunnel (3 sections) and 1,860 LF by NATM techniques (2 sections).

2005-2007 East APM Tunnels and Stations. Washington, D.C. Automated People Mover Tunnel constructed on the east side of Dulles Airport to provide rapid passenger transport from the main terminal to Concourse B and future tiers 2 and 3. Required 5,900 LF of cut and cover tunnel (2 sections), 825 LF by NATM techniques (2 sections) and 4,400 LF by Earth Pressure Balanced TBMs.

SONGS COOLING TOWER FEASIBILITY STUDY
Attachment 2, Section 2: Credentials of Mr. Robert A. Reseigh Page 48 of 53

2004-2007 Claremont Tunnel Seismic Upgrade. Berkeley/Oakland, California. Construction
of a 2,000 LF x 16 FT horseshoe bypass tunnel to insure the integrity of the existing 18,065 LF water tunnel. Excavation was performed primarily by an AM-75 Roadheader along with drill-blast and the use of a mini-excavator across the fault zone. The finished tunnel incorporated a steel liner through the Hayward Fault for stabilization in the event of an earthquake.

2003-2005 Leeville Shafts Project. Carlin, Nevada. Project included the excavation of a 22-FT-diameter x 1,900-FT concrete-lined production shaft for a new gold mine, a 20-FT-diameter x 1,650-FT ventilation/exhaust shaft, and sinking plant set-ups for both shafts, as well as equipment for both shafts. Included drill-blast excavation of a 1,500 FT x 15-FT horseshoe drift to connect two levels of the new mine.

2002-2003 Capitol Peak Tunnel Complex. White Sands, New Mexico. Excavation of a tunnel complex that included two inter-connected tunnels and two stub portal tunnels ranging from 13 FT wide x 13 FT high to 20 FT wide x 16 FT high and a 40-FT-wide x 20-FT-high connecting alcove, incidental underground facilities, and an access road at White Sands Missile Range. A total of 1,850 FT of tunnel was excavated by drill-blast.

2002-2004 Blue Ridge Low Level Outlet Project. Blue Ridge Dam, Georgia. Construction of a low-level inlet/outlet structure in the dam involving design-build of a 975-FT x 12-FT-diameter drillblast tunnel, cofferdam, flow control devices, hydraulic energy dissipation systems, and wet lake tap.

2001 Mission Valley East Extension Light Rail Project. San Diego, California. 1,085-FT underground tunnel (37 FT wide x 29 FT high) via the New Austrian Tunneling Method (NATM) at San Diego University. Included cast-in-place cut and cover tunnel (2,915 FT), underground station, and installation of mechanical, electrical, communications, and utilities.

2001 Carolina Power & Light Surge Shaft Repair Project. North Carolina. Fast-track concrete lining and grouting project incorporating innovative shaft set-up inside a surface surge tank.

2000-2005 Independent Salt No. 2 Shaft Repair. Kanopolis, Kansas. Provided custom work decks and set-up to repair 600 FT of one compartment of an 80-year-old timbered shaft. Removed old timber and caved clay followed by installation of new timbers with concrete backing. Work scheduled for two years.

1999-2001 U1h Shaft Project. Nevada Test Site, Nevada. Design-build of a 113-FT-deep shaft collar, installation of sinking set-up, and excavation of a 1,045-FT-deep, 20-FT-diameter combination ventilation/access shaft.

Attachment 2, Section 2: Credentials of Mr. Robert A. Reseigh Page 49 of 53

2000 No. 2 Shaft Rehabilitation Project. Carlsbad, New Mexico. Conversion and update of a 900-FT-deep, three compartment man/service shaft to a production skip shaft. Consolidation grouting included, along with underground excavation and installation of load-out pockets.

1996-1998 Minorco Lisheen. Tipperary, Ireland. Designed an underground lead and zinc mine. Major features were a 1,800-meter, 15 percent decline, underground crushing, and conveyance to a surface secondary crushing and milling plant, plus four shafts used for ventilation and secondary means of egress. (I believe Jim Golden was also a design engineer on this project and Reseigh the Project Director.)

1996-1998 American Rock Salt. Rochester, New York. Designed a new mine 2.5 million tons/year of salt. Major features were two-each 1,600-FT-deep shafts plus related underground development, and load-out facilities.

1996-1999 P-1 Pressure Tunnel. Hemet, California. 2,500 FT of drill blast tunnel with a 16-FT ID steel liner encased in concrete, plus two-each drainage and grouting tunnels each 1,600 LF x 16-FT-diameter excavated by drill blast techniques.

1995-1996 Parsa Project. Dead Sea, Israel. 1,200 LF of tunnel, 4m x 4m. Extensive ground constraint grouting program and extensive core drilling to determine geophysical formations that exist to aid in the design for future pump storage.

1995-1996 Sapir Pumping Plant Mekoroth Water Company. Tiberias, Israel. Extensive grouting and repair program on the underground pumping plant. The pits and underground structure were leaking over 2,500 gpm of potable water. Program reduced leaks to less than 20 gpm.

1994-1996 Conrail Project. Altoona, Pennsylvania. Enlargement of two existing tunnels
totaling 4,300-FT for double-stacked rail cars on double-track railroad. Used drill blast techniques plus robotic shotcrete equipment.

1992-1993 SSC Project Medium Energy Booster. Waco, Texas. 18,000 LF of 15-FT diameter tunnel. Tunnel excavated utilizing TBM and road headers.

1989-1993 Kemano Power Tunnel. British Columbia, Canada. Ten-mile, 19-FT-diameter tunnel for Alcan, located at a remote camp site in upper British Columbia. Excavated using a Robbins TBM.

1989-1991 E-8a Greenbelt Route Metro Subway Project. Greenbelt, Maryland. Twin subway soft ground tunnels for WMATA, 6,000 FT long each. Precast segments were installed in conjunction with a digger shield.

1990-1991 Staten Island Sewer Tunnel. New York City, New York. 1,270 LF of Earth Pressure Balance sewer tunnel for the City of New York.

Attachment 2, Section 2: Credentials of Mr. Robert A. Reseigh Page 50 of 53

1990-2000 Boston Outfall Tunnel. Boston, Massachusetts. Ten-mile-long outfall tunnel, 26-FT finished diameter plus 55 diffusers to be utilized in conjunction with the new sewage treatment plant.

1991-1993 Grizzly Powerhouse. Quincy, California. 12,100 LF, 11-FT-diameter power tunnel for Pacific Gas and Electric Company. Tunnel was excavated using NATM tunneling in conjunction with conventional tunnel boring.

1991-1993 Ortiz Project. Taos, New Mexico. Construction management of open-pit gold mine, including some pit planning, ore and waste control.

1989 Dynatec Mining Corporation, Vice President-Operations.
Responsible for operating projects in the United States, including mine development, raise drilling, construction, and shaft sinking. Key projects included Montanore Project consisting of 6 miles of NATM decline near Libby, Montana, and McCoy Mine, Battle Mountain, Nevada, Contract Mining.

1971-1989 Peter Kiewit Sons, Inc.
Area Manager. (1985–1989). Precious Metals Mine Projects. Reno, Nevada. Responsibilities included managing the design and engineering of precious metals mines and evaluating properties for acquisition. Projects included Rawhide Mine, Contract Mining, and acquisition in Nevada, and numerous outside contract open-pit mining and engineering projects in Nevada and Montana.

District Manager and Vice President. (1983–1985). District Office, Gilbert Underground in Omaha, Nebraska.

1984-1985 Asamera Gold Corp. Wenatchee, Washington. Excavation of 15,000 LF of decline and horizontal work including complete construction of an 18-FT diameter x 900-FT production shaft and installation of an underground crushing and conveying plant.

1984 Dept. of Interior, Grand Coulee Dam. Washington. Instrumentation and monitoring shaft. Complete dewatering and sinking of two observation and instrumentation shafts x 300-LF at Grand Coulee Dame for the Bureau of Reclamation.

1984-1987 Bad Creek Pump Storage - Duke Power. Clemson, South Carolina. Complete construction of the Bad Creek pump storage underground power plant. Work included two-each 30-FTdiameter x 1,000 FT deep intake shafts, four-each intake tunnels complete with manifold, plus four-each tailrace tunnels, ventilation shafts, and complete underground powerhouse and access tunnels.

Attachment 2, Section 2: Credentials of Mr. Robert A. Reseigh Page 51 of 53

SONGS COOLING TOWER FEASIBILITY STUDY - Page 5 of 53, an example of his engineering:
The tunnel muck will be removed using muck cars designed to be lifted off the shaft bottom and dumped on surface. Locomotives will transport muck cars plus concrete segments to the mining machine and haul full muck cars to the shaft for muck removal.

Additionally, when locomotives are utilized, it is highly recommended that the tunnel slope does not exceed 2%.3% is possible in short sections only. The estimate for construction has allowed for the aforementioned means and methods with a maximum tunnel slope of 2%. The estimate also assumes using two TBM’s: one TBM per shaft at each cooling station.

This concludes the narrative which is the basis of the attached cost estimate.

Very truly yours,
Robert A. Reseigh
Underground Consultant

http://www.swrcb.ca.gov/water_issues/programs/npdes/docs/cwa316_2009sept/comments/hertel_attachments/fs_songs/att2tunnelingeval.pdf

Bob Reseigh worked closely with Jim Golden, Goldspring COO for 2 decades.

Jim Golden also a Kiewit alumni of doing things only two ways:

1. The Right Way

2. By the Right Stuff

SNOW IN VIRGINIA CITY & WHERE TO STAY

2010-01-14T20:05:00.000-08:00

2008 Press Release Highlights

2008-12-29T19:22:00.000-08:00

Reserve Report of Precious Metal Ore in Earth by Core Drill Assays at Merriman Curhan Ford and Company Investor Summit 2008, September 16 by Goldspring Inc. CEO Faber and COO Golden:
500,000 ounces of Gold
2,000,000 oz Silver
under 30 acres of Hartford Complex property,
Goldspring Inc. claims cover 80% of the Comstock Lode, over 6,000 acres.
Comstock Mining District covers more than approx 8,000 acres.
Goldspring Inc. planing for mining to start between the historic Belcher Mine where are five historic bonanza mines to the north and the Woodbill Mine, a southernmost Comstock Mine.
Summer 2008 Highlights
GoldSpring Appoints Robert Reseigh to Board of Directors.
20 years with the Peter Kiewit organization, which is a recognized world leader in the mining industry. He held several positions there, including Vice President and Area Manager for Precious Metals Mine Projects.
Mr. Reseigh also served as Executive Vice President of Atkinson Construction Company, a subsidiary of Clark Construction, where he directed all construction projects performed by the corporation. The international portfolio of design and construction projects for which Mr. Reseigh has been responsible in his career include such projects as
the Sapir Pumping Plant for the Mekoroth Water Company in Israel,
the McCormick Place West Hall Expansion Storm Water Tunnel in Chicago, and
the Minorco Lisheen underground lead and zinc mine in Ireland."
Chief Engineer Jim Golden has worked as a design engineer with Reseigh.
Mr. Reseigh, is a mining and civil engineering executive who has overseen over $1 billion in civil and mine construction projects during his career; earned a Master of Science Engineer of Mines degree from the Colorado School of Mines.
GoldSpring, Inc. to Appoint New Director, Jonathan D. Jaffrey, Monday to GoldSpring Board, July 14, 2008 1:00 pm ET. Jonathan D. Jaffrey was later confirmed as an independent director.
"Our two new directors, Reseigh and Jaffrey, bring great depth to GoldSpring, and we continue to look for additional independent directors to further strengthen our Company," added Mr. Nance, Chairman of the Board for Goldspring Inc.
William Nance has a long history as a CFO.
Goldspring Staff and Consultants are some of the best in Mining, Tier One.
Dennis Andersen, professional mine engineer (PE) and Nevada certified environmental manager (CEM) seen in several Goldspring Mine Tour video clips in the HQ Conference Room and spoke while at on-site Merril-Crowe plant. He is a consultant for government interaction.
Mike Norred, TechBase, 3-D Ore Prediction and Visualization http://www.techbase.com/
Dwight Juras, Ph.D., geologist, long time at Couer d' Alene Mining District sought out Goldspring when learning of further exploration in the Comstock. Internet search yields high honors and his resume http://www.youtube.com/watch?v=eNjJysEKci8
Gene McClelland, metallurgical engineer with Laboratory, website list several pages of prominent mining clients. McClelland performing extensive bulk sample testing of ores www.youtube.com/watch?v=Wak75IEVP6s
Jeff Butwell, mineral engineer
Jonathan D. Jaffrey is the President and a founding partner of Springbanc Philanthropy Advisors, a nationally focused philanthropy consultancy. Mr. Jaffrey most recently served as chief operating officer, chief financial officer, and member of the investment committee for the W.M. Keck Foundation, a $1.4 billion private foundation focusing on science and engineering research, medical research, liberal arts, and community programs in Southern California.
"Telesto 43-101 resource report will include...numerous historic drill holes largely drilled in the 1990's." - Tuesday September 2, 2008 GoldSpring, Inc. Press Release.
Goldspring Inc, S-1/A On 7/28/04, with word search tool (Ctrl/F) "holes" (first occurence is on page 22):
ten Reverse Circulation holes were drilled, all of which encountered ore grade over significant widths...
199 Reverse Circulation (RC) holes being drilled
in the Billie the Kid and Lucerne deposits.
14 Confirmation and Condemnation holes,
mostly in the area of the Lucerne Deposit.
11 Shallow RC holes in the Billie the Kid deposit
=equals=
224 Holes
subtract (11) drill holes drilled by BMR in 1997
=equals=
213 Reverse Circulation Drill Holes drilled between 1990 and 1993
Goldspring Inc, S-1/A On 7/28/04,
SEC File 333-114697,
Accession Number 1213900-4-375
www.secinfo.com/d151E3.1Bx.htm
GoldSpring Renews Reclamation Permit for Comstock Lode Property, August 20, 2008 - PR Newswire.
GoldSpring Enters into Agreement to Acquire Mineral Rights to Properties in Comstock Lode. The Company has entered into agreements, with a related-party shareholder, to purchase assets, including patented and unpatented lode mining claims from DWC Resources, Inc. DWC Resources owns mining claims for properties in the Comstock Lode district that previously generated substantial amounts of gold and silver. The Company also entered into a sub-lease agreement for the Sutro Mining Company properties in the Comstock Lode district. The purchase price for the transactions has been agreed upon but is subject to a fairness opinion to be provided by an independent appraiser. The Company also acquired the lease interest of the Occidental Lode group, consisting of six patented mining claims in the Comstock Lode district.

"The acquisitions of these properties, several of which produced appreciable amounts of gold and silver at a time when sophisticated mining techniques did not exist, is a logical step in our efforts to further consolidate our holdings in the Comstock Lode," said Rob Faber, GoldSpring's Chief Executive Officer.
"In addition, these acquisitions enhance our financial flexibility by securing interests that have historically contained notable amounts of gold and silver."
GoldSpring Releases Assay Results Which Demonstrate Continuation of Favorable Indications From Drill Program, July 22, 2008 - PR Newswire.
Form 10-Q for GOLDSPRING INC 8-Aug-2008 - Quarterly Report
Summary Exploratory Drilling Results Table
Hole 45: 230'-235' 1.559 (ounces per ton Au) Gold Grade
Historic comstock bonanzas had OPT down to 0.5. It's not just the gold grade (OPT). It is also the volume. Look at http://comstockgold.blogspot.com/
and www.youtube.com/watch?v=LCiPTb_ULIY
Goldspring's Hartford claim is in the same geological structure as 3 historic Comstock Bonanzas stated by Chief Engineer Jim Golden in the video: "Why Start at The Hartford Complex? - " http://www.youtube.com/watch?v=IurkXtE-yEo

Holes 44 - 42 - 40 - 10 have vertical portions of rich grading.
+ Goldspring owns or has mineral rights to 80% of the Comstock Lode. Consolidation of claims is an on-going process.
+ Goldspring has third party assay analysis by Telesco Laboratories of approx $500 million (10-11-2008) in precious metal reserves!.
+ Indications of a potential bonanza grade ore found in "known body" due to drill hole #40 with 1.9 opt Au for 5 vertical ft in core drill.
+ 1800's Comstock has largest silver vein in USA history. (Nevada is the "Silver State") History Channel called it one of the "...richest..." silver veins.
+ 33 bonanzas found, 1859 - 1923, under 10% of the Mining District acreage. Some were considered easy pickens, "ripe plums" by Mackay the historic Silver King who founded Nevada's School of Mines. More bonanzas have a reasonable probability of being found under the 90% of the Comstock that has not been explored.
+ Comstock is U.S. soil in Nevada, a pro-mining state.
Overview of Goldspring Exploration in the Nevada Comstock - Feature Video
The 2:15 to Comstock!
Raw video footage 6-5-2008 at Rechip Investment Conference in San Francisco in a seminar room on 2nd floor starting at 2:15 PM PST.
CEO Robert Faber Introduction with History of Developments
Click to right of video window the blue text button "more info".
Chief Engineer James Golden speaks about core drill assay schedule and the rich ore that was found:
http://www.youtube.com/watch?v=lh-EQyPaCoI
Q and A:
COO Golden said they would like to increase the scope of mining the ore body by 50% with additional exploratory drilling from then present location to the historic Justice mine, 800 feet uphill to the northwest. A quartz vein target was found, third party assay of that quartz vein at that time was yet to be reported. Continued drilling for a 50% increase is still on less than 5% of the Goldspring property. Videos:
3-4 http://www.youtube.com/watch?v=5TZP9l8g3Z4
4-4 http://www.youtube.com/watch?v=HRj6Va1vXOo
http://goldspring43-101.blogspot.com/
Return to Master Blog http://goldspringinfo.blogspot.com/

Plays series of videos about AMERICAN FLAT NV PROCESSING CIRCUIT
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Plays series of videos about DESIGN AND PLANNING
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