Sparton Resources Inc. (TSX VENTURE:SRI) (the "Company") announced today that
it has now received final results for the geophysical surveys recently completed
over the SBD Gold Property in the prolific gold producing Battle Mountain area
of Nevada, USA . Over 23 line kilometres of detailed CSAMT (Controlled Source
Audio Magneto Telluric) and ground magnetic surveys were completed over the
entire claim group late in 2006 by Quantech Geoscience of Reno, Nevada . These
types of surveys have not been previously done on the property and are used
to identify features related to gold mineralization found by previous exploration
and also to locate new target areas. Lines were surveyed in both north south
and east west directions to allow interpretation structural zones in all directions
and locate structural intersections which are important gold hosts in the area.
The work has been successful in locating a number of excellent well defined
low resistivity anomalies (conductive zones) that have not been previously drill
tested. The work also highlighted similar conductive anomalies associated with
the three main zones of gold mineralization previously discovered.
Until Sparton
began its work program in mid 2006 no new work had been done at SBD since
1997. (See Company News Releases dated March
22 and July 11, 2006)
In addition to the encouraging resistivity data, a well defined magnetic
anomaly approximately 800 metres by 600 metres in size has also been
identified in the south west part of the claim area. This is likely
related to a group of intrusive rocks, some of which were intersected
as dykes in previous drilling. These rock types are considered important
gold hosts or have a close relationship to gold and associated copper
mineralization in the immediate Battle Mountain area. In this part
of the Battle Mountain Trend gold mineralization is either directly
related to intrusive rocks or their contact zones. These intrusives
may be either buried or may come to surface as smaller dykes or intrusive
sills. Several of the conductive (low resistivity) zones are closely
associated with the margins of this magnetic feature.
For comparison
Newmont's nearby Trenton Canyon Mine (approximately 250,000 ounces
gold produced) is less than 800 metres to the north west of the
SBD claim boundary, and there, gold mineralization is directly related
to the Trenton Canyon Stock. At the Fortitude skarn type Gold Deposit
about 6 km to the south (approximately 1.9 million ounces gold
produced) mineralization is directly associated with the contact
zone of a granodiorite intrusion and favourable sedimentary rocks.
This is part of Newmont's general Phoenix Mine development and production
area with reported reserves in 2004 of 8.5 million ounces of gold
and 660 million pounds of copper (Newmont published information).
DISCUSSION OF RESULTS
Four new significantly
conductive areas have been highlighted in the central part of the
claim area. These appear to represent buried targets and there
are indications of associated rock alteration including mapped silicification
and iron oxide development in the geological database for each
of these zones. They vary in size from 300 metres long by 50 metres
wide to about 900 metres long and over 100 metres wide. None have
been previously drill tested. As well, the known gold zones in
the western part of the SBD claim area (Stibnite, West and South
Gold Zones) are all associated with conductivity trends and structural
intersection zones that are incompletely tested. The South Gold
Zone, where past drilling by Echo Bay Mines Limited had intersected
two zones of 8m of 1.54g/t and 33 m of 1.54g/t gold in drill hole
number 19-93 is associated with a conductivity zone nearly 900 metres
long. It is located at the south west margin of the large magnetic
feature and known gold mineralization from past drilling is known
to be associated with intrusive dykes. The intersections in hole
19-93 were never followed up and several nearby holes in the area
were drilled vertical with little chance of intersecting near vertical
structures, or they were located
away from the conductive zone found in the current program. Several other shallow
holes drilled by Sante Fe Pacific (now Newmont) in this area also intersected
highly anomalous gold values adjacent to intrusive rock dykes (0.5 to 0.8g/t
gold over 5-20 metre widths) but were not followed up.
ONGOING WORK
Following
completion of data interpretation a drilling program is expected to
begin in about 6 weeks time to test various new target areas and
further define the mineralization previously located. It is expected
an initial core drilling program will be used to test the known
zones and better understand the geological controls of the gold mineralization.
This will be followed by reverse circulation drilling as follow
up. Negotiations are underway with various drilling contractors in
the area, permit applications are nearly completed and approvals
expected shortly. "We
are very encouraged by these results, especially the identification
of the new zones which have had no previous drilling", commented
A. Lee Barker Sparton's President. "This key property has essentially
remained completely dormant for nearly 10 years during the slump
the gold market and our systematic approach using up to date exploration
technology has certainly proven that there are new targets to be
found along the Fortitude -Trenton Canyon structural corridor. We
certainly look forward to success in the upcoming drill program".
Maps showing the anomalous areas are available on
the Company website www.spartonres.ca.
FOR FURTHER INFORMATION PLEASE CONTACT:
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