Questions raised over new mining reports by U.S. company

By Admin Friday January 27 2012 in Caribbean
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GEORGETOWN, Guyana: Guyanese authorities deny reports of new mining operations in the Caribbean nation.


The U.S. mining company, North Springs Resources Corporation (NSRC), announced recently it had reached an agreement to acquire gold mining properties in Guyana. The ministry responsible for the country’s mining sector issued an advisory stating, “the Guyana Geology and Mines Commission (GGMC) is not aware of a company called North Springs Resources Corporation (NSRC) doing business in Guyana with respect to mining or mineral properties…It must be pointed out that North Springs Resources Corporation has not contacted nor informed the Guyana Geology and Mines Commission of any joint-venture … any letter of intent with any mining company or mineral tenure in Guyana.”


The initial report stated that the company was within 48 hours of finalizing a definitive agreement to prospect for gold on 25,000 acres of land in Guyana adjacent to the Omai Gold Mines operation. NSRC reported that it had reached an agreement in principle to acquire a 100 per cent interest in two prospecting licences in the prolific gold producing region known as the Kaburi gold mining area in Guyana’s Upper Takutu-Upper Essequibo region. The Kaburi gold mining area is part of a well-defined thousand-mile long band of gold producing greenstone geology from Venezuela and French Guiana.


According to, Harry Lappa “is the sole member of (NSRC)’s board of directors and is the company’s president, chief executive officer, chief financial officer, treasurer and secretary.”


“This is a fantastic opportunity for North Springs to acquire two very large properties right in the middle of one of the most important gold producing regions in the world….” Lappa said


“The Omai Mine, to the southeast was worked for many years by artisanal miners before being re-discovered as a large scale commercial mine with over four million ounces of gold produced. We intend to find out if the artisanal workings on the R-20 and R-21 are also just the tip of a much larger deposit lurking underneath.”


The transaction, as reported by the Nevada-based company, now hinges on, among other things, “North Springs and the vendors entering into a definitive agreement and completion of satisfactory due diligence by both parties.”


The NSRC report stated that extensive surveys were conducted by the GGMC on the land in question and have already unearthed moderately to strongly anomalous gold concentrations within both properties that warrant immediate follow-up.


“The surveys on the mining plots revealed that it shares geological and geochemical characteristics with several well-known gold producing mines in the immediate area at Omai, Kaburi, Eldorado and Hicks.”


The company claims that from 2004 to 2008, Lappa was president and director of a publicly traded resource exploration company, with offices in both North and South America and during his tenure, the company maintained holdings of over 400,000 lease acres in Brazil, and completed over 7,700 line kilometres of airborne electromagnetic geophysical survey (VTEM) by helicopter, thereby allowing (it) to identify multiple drill targets. The company also states that “during this same period, over $3 million was raised in the public markets to further property development.”

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