Penny Stock News: Star Gold Provides Update on Its Longstreet Project

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POST FALLS, ID–(Marketwire – May 5, 2011) – Star Gold Corp. (OTCBB: SRGZ) is pleased to announce an update on its Longstreet Project in Nye County, Nevada, and its upcoming independent resource report. There are eight major targets in the project; West Main and NE Main (together the “Main” target), Opal Ridge, North, Spire, Red Knob, North Slope and Cyprus Ridge. After careful study of the data, it is apparent the Longstreet project is very similar in geology to the nearby Round Mountain open-pit heap-leachable deposit. Round Mountain boasts production of 10 million ounces of gold to date.

The Company believes the Main target currently holds the most promise within the project. Therefore, the initial primary targets of emphasis within the Longstreet project will be the NE Main and West Main sites. The NE Main site has a previously operated mine within its borders, and has recently received the most exploration with preliminary drilling of 300 test holes. The Company estimates the release of an independent technical report on Longstreet before the end of May 2011. Pending approval from the U.S. Forest Service, the Company will commence drilling selected targets with the expected completion of test holes by July 2011.

Penny Stocks are stocks traded for under $2 and they represent the small cap companies. They trade on the OTCBB so you will not find them on the major stock exchanges. They are very cheap stocks and normally come for businesses needing capital. They are a very risky investment as the business can go under and leave you with a stock worth nothing. However that being said penny stock trading can be a great money maker, and there are numerous traders who make 6 figures and more from them each year.

The best reasons to trade in penny stocks are the fact that they do not require a large initial investment, meaning that they are an affordable investment for many. Penny stocks are cheap. For example if you were to buy 1000 shares in a company with shares at 10 cents, you would only require an investment of $100, whereas if the shares cost $5 you would require an investment of $5000. Penny stocks also have the potential of huge gains, and have been known to rise as much as 1000% daily. Therefore your $100 investment can be worth $1000. This is very unlikely to happen to other stocks from large cap businesses.

 

Article source: http://www.marketwire.com/press-release/star-gold-provides-update-on-its-longstreet-project-otcbb-srgz-1510464.htm