Steele Resources Corporation Announces Permit Acquired
June 22 2011 - 7:39PM
Marketwired
Steele Resources Corporation (the "Company," "SRC") (OTCBB: SELR)
announced today that it has received approval from the state of
Montana to commence advanced exploration at its Mineral Hill Gold
Exploration Project. The Company has permitted up to twenty drill
holes totaling 10,000 feet.
This drill program will focus on verifying the gold resource
that has been discussed in the historic reports associated with the
A&P mine and surrounding area. The planned holes will be
drilled into the known mineralized structures, focusing on infill
drilling between the open cuts and beneath the current underground
workings. Additionally, geological mapping, geochemical sampling,
and an IP resistivity survey is planned for a second target area to
the east of the A&P mine in order to establish whether gold
mineralization exists along strike of the shear zone and intersects
subsidiary crosscutting structures beneath the glacial moraine
deposit.
CEO Scott Dockter stated, "Mineral Hill is the first of many
projects we plan to explore. The Company is currently working to
collaborate with a strong Investment Banking firm in order to
further explore this project, as well as develop opportunities of
additional acquisitions of other natural resource projects with
near term production potential."
A bond of approximately $20,000 remains to be posted before the
Company can commence exploration activities.
About Steele Resources Corporation:
Steele Resources Corporation is a precious metals exploration
company operated by professionals with extensive exploration,
mining, and public market experience. The Company is working to
become an active gold producer through exploration, acquisitions,
mergers, and by developing its existing portfolio of
properties.
More information about Steele Resources Corporation can be found
at www.steeleresources.com.
Safe Harbor Statement
The matters discussed in this release contain forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and Section 27A of the Securities
Act of 1933, as amended that involve risks and uncertainties.
Although Steele Resources Corp. believes that the expectations
reflected in such forward-looking statements are reasonable, the
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ from those projected.
Steele Resources Corp. cautions investors that any forward-looking
statements made by Steele Resources Corp. are not guarantees of
future performance and actual results may differ materially from
those in the forward-looking statements. Factors that could cause
actual results to differ materially from those reflected in
forward-looking statements include, but are not limited to, risks
and uncertainties regarding the actual mineralization of Steele
Resources Corp.'s mining properties, the unproven nature of and
potential changes to Steele Resources Corp.'s business model, the
risk that the capital and other resources that Steele Resources
Corp. will need to exploit its business model will not be
available, and the risks discussed in Steele Resources Corp.'s Form
8-K dated June 17, 2010 and in Steele Resources Corp.'s other
filings with the Securities and Exchange Commission.
Contact: Newsletter signup and website:
www.steeleresources.com Email: info@steeleresources.com Scott
Dockter 530.672.6225
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