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Sparton
Resources Inc. (TSX VENTURE:SRI) (the "Company") reported today
initial assay results from the seven hole drill program recently
completed at the SBD Gold Project in the Battle Mountain Area
of Nevada, USA. The results are regarded as very encouraging and
confirm earlier results reported from SBD drill programs by previous
operators.
Seven
reverse circulation drill holes totalling approximately 1370 metres
were completed in this initial work. Two holes were drilled on
each of the North, West, and South Gold Zones and one hole tested
a new geophysical target located in the central east part of the
29 claim (240 ha.) property . All holes
intersected gold mineralization in the North West and South Zones
in excess of 0.5g/t over widths of from 7 to 33 metres. For reference,
the historical reported grades for the past and current production
from the nearby Trenton Canyon (Newmont) and Marigold (Barrick)
Mines are about 1.13 g/t and 0.90 g/t respectively.
All
holes in the North, West, and South zones were angle holes ranging
from -55 to -70 degrees in dip, and were drilled eastwards against
the indicated dips of the structural and alteration zones interpreted
to control the gold mineralization in the various targets. As such,
most of the intersections are interpreted to represent close to
true widths. Hole SBD 07 -07, designed to test a new geophysical
target to the east was drilled at -80 degrees in a south westerly
direction to test a new magnetic and resistivity anomaly. None
of the holes actually duplicated previous holes but were positioned
to intersect the interpreted location of structural zones representing
the mineralization located in the earlier work. The strike extensions
of the intersections reported here are open for distances of up
to 300 metres or more from the current hole locations.
Analyses
were done by ALS Chemex Laboratories in Reno, Nevada and incorporated appropriate
chain of custody, and use of standards, duplicates, and blank,
analyses for quality control.
SUMMARY OF RESULTS |
Hole
No.-Dip |
Zone |
From-To |
G/T Gold |
Remarks |
| 07-01, -55deg |
West |
16.4-27.9m |
0.53g/t /11.5m |
|
| 07-02, -70deg |
West |
23-36m |
0.57g/t /13m |
Same location as 07-01 |
| 07-03, -55deg |
North |
62.5-82m |
1.37g/t / 19.5m |
Includes 1.91g/t /11m |
| 07-03, " |
North |
116.5-133m |
1.72g/t / 16.5m |
Second zone |
| 07-04, -60deg |
North |
189-195m |
0.46g/t / 6m |
Hole is approx 50m N of 07-03 |
| 07-05, -55deg |
South |
126-159m |
1.12g/t / 33m |
Includes 9.5g/t / 1.6m |
| 07-05, " |
South |
175-178m |
0.45g/t / 3m |
Second deeper zone |
| 07-06, -70deg |
South |
137-141.5m |
0.69g/t / 4.6m |
Same location as 07-05 |
| 07-06, " |
South |
148-149.5m |
0.59g/t / 1.5m |
" " " |
| 07-06, " |
South |
161.5-177m |
0.37g/t / 15.5m |
Hole not completed to full depth |
| 07-07 |
New |
88.4-89.9m |
0.84g/t / 1.5m |
New mineralization not previously |
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known |
DISCUSSION
These results are considered very encouraging as they have confirmed the existence
of wide widths of gold mineralization similar in grade to that currently being
mined, and historically produced from operations now controlled by Newmont
and Barrick in the immediate area of the SBD Property. The current holes were
designed to follow up the past intersections using a structural model for control
of the gold mineralization and the results reported here confirm this interpretation.
The location of new mineralization in a portion of the claims previously unexplored,
also opens up a completely new area for exploration.
A comprehensive follow up drilling program will be organized later this summer
after the current results are compiled with the past data into a three dimensional
model of all known gold intersections at SBD. The new drilling work will be
designed to identify overall size and gold grade distribution in the known
zones and further explore the new area identified in Hole 07-07.
Sparton's international exploration and evaluation programs are being carried
out under the direct supervision of A. Lee Barker, P. Eng., P Geol., the Company's
President and CEO who is a Qualified Person under National Instrument 43-101.
FOR
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