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Sparton Resources Inc. (TSX VENTURE:SRI) (the "Company") reported today the initial
sampling results from
its West Hammond Contact ("WHC") property located in northern Ontario.
The WHC claim group
is
contiguous
to the claim holdings of Brett Resources Inc. ("Brett"), approximately 25 km. north of the town of Atikokan.
Highest values reported from this initial batch were 13.55 and 12.4 grams per tonne gold.
During the initial
prospecting and sampling program new mineralization was discovered on the WHC claims along strike
from the previously reported Stubby Zone (see Sparton news release dated July 20, 2009).
Named the "New Silicified Zone", this mineralization is located 1.0 Km from the Stubby Zone showing
and consists
of highly sheared and altered sericitized and ankeritized mafic volcanics containing 2 to 20%
disseminated pyrite.
It is a wide (greater than 25 meters) altered shear zone located at the contact
between
Finlayson volcanics and the granitoid rocks of the Marmion Batholith. These latter rock types
host the
nearby 5.2 million ounce gold resource owned by Brett Resources.
| The highest values were obtained from composited grab samples taken along this zone and include |
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| 13.55 grams/tonne Au |
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Quartz veins in sericite-ankerite schist 300 meters NE of the Stubby Zone |
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| 2.76 grams/tonne Au |
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Quartz ankerite vein zone in ankerite sericite fuschite schist |
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| 4.04 grams/tonne Au |
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Stubby Zone composite |
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| 2.61 grams/tonne Au |
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New Silicified Zone pyritic sheared volcanics |
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| 12.4 grams/tonne Au |
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New Silicified Zone quartz vein composite |
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| 0.99 grams/tonne Au |
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Pyritic shear adjacent to New Silicified Zone |
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Numerous other samples of altered and sheared volcanics and granitic rocks taken along the Stubby "structure" returned values of 0.30- 0.75 parts per million gold, indicating that a broad zone of gold mineralization is associated with this major contact.
The new mineralization has been discovered by basic prospecting and sampling along the Stubby trend. Currently a team of 10 samplers and prospectors are doing initial reconnaissance coverage of both the WHC and Clement Lake claim groups in advance of the winter season. Over 300 samples have been taken to date and new data are forthcoming. Approximately 20-30 km of line cutting is nearly completed along the Stubby trend which will cover the New Silicified Zone. Systematic mapping and soil sampling are in progress over this grid. Mechanical trenching and stripping will begin shortly to properly expose and trace the mineralized exposures. Systematic chip and channel sampling will be done in these stripped areas.
Results reported here are all from grab samples composited from a number of smaller samples taken over a several square meter area at each sample location. All analyses were done by the ALS-Chemex laboratory in Thunder Bay Ontario. An internal QA-QC program consisting of chain of custody, and blank and duplicate sample analyses has been instituted by Sparton Staff to insure sample integrity and accuracy of analytical results.
Sparton's management is extremely pleased with these initial results. They confirm the occurrence of a very strong zone of shearing, alteration and related gold mineralization associated with the contact zone between the Marmion batholith and the Finlayson Volcanic Belt. The Company claim holdings cover approximately 20 kilometers of this zone.
Sparton's international exploration, development, 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.
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For more information contact: |
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A. Lee Barker, President and CEO |
Edward G. Thompson, Chairman |
Tel.: 416-366-3551 |
Tel.: int'l +1-416-366-6083 |
Fax: 416-366-7421 |
Fax: +1-416-366-2713 |
Mobile:416-716-5762 |
Email: egt@interlog.com |
E-mail: info@spartonres.ca |
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Company website: www.spartonres.ca |
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Listed:TSX Venture Exchange |
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Trading Symbol: SRI |
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This press release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Generally, forward-looking statements can be identified by the use of forward- looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "planned", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may" ,"could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, closing of transactions, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to exploration and development, the environment, local and foreign government regulation, currency fluctuation infrastructure, capital markets and additional funding requirements and the departure of key executives as well as those factors discussed in the Company's documents filed on SEDAR (www.sedar.com).
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws. Further information on Sparton Resources Inc. is available at www.sedar.com.
This news release and the information contained herein does not constitute an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or exemption from registration.
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