Sparton Resources Inc. Encouraging Results From Initial Drilling on Quebec Gold Property, Continuity of Gold Zones Confirmed
TSX VENTURE: SRI
TORONTO, May 28, 2018 (GLOBE NEWSWIRE) -- Sparton Resources Inc. (TSX-V:SRI) ("Sparton" or the "Company") announced today that it has received final assay results from the initial three-hole drill program at on the Bruell Gold Property in Vauquelin Township, Quebec. Three holes all intersected significant gold mineralization and were completed for a total of 691 meters. One hole intersected a newly discovered broad altered shear zone grading 2.75 grams per ton over 6.67 meters including 6.57 grams per ton over 1.67 meters. Two other new gold zones were also discovered lower down the same hole.
The initial program involved testing an area on the east part of the claims, east of the Avocalon shaft, where several past drill holes returned encouraging gold values associated with a 300 meter long Induced Polarization geophysical anomaly that has been incompletely tested.
The current results have confirmed continuity of the historical zones intersected in earlier drill programs both laterally and vertically and three new zones have been identified, including the one referred to above, which is over 20 meters in width.
All holes were drilled to the north, the known zones trend east-west, and intersections reported are believed to be approximately 90% of true thickness as each zone dips steeply south at 75-80 degrees.
Drilling in this same general area in 1963 by Potter Gold Mines Ltd. reported 5.32 grams per tonne gold over 2.44 meters and 6.51 grams per tonne gold over 2.13 meters. These old holes were not precisely located.
In 2005, C2C Inc. drilled 2 holes 146 meters apart along strike and encountered wide shear zones grading 1.33 grams per tonne over 8.5 m. and 1.15 in hole BR-05-13 and 1.25 grams per tonne over 8.5 meters including 3.23 grams per tonne over 1.5 meters in Hole BR-05-14. These C2C holes were located in the field and investigated Zone B only.
The three holes drilled this past winter were completed in this area. Two new zones (Zone C and D, not previously identified) were located in the third hole completed in the current program. Zone D is over 20 meters in true thickness and represents a new target for future work.
A plan map of the drilled area with cross sections will be posted on the company website www.spartonres.ca once all data have been compiled.
All Holes are listed from west to east and total strike length drilled is 250 meters.
|-45 North||21.1||27.0||5.9 m||2.44g/t||3.1m @ 3.2g/t||Current|
|“||126.52||135.48||8.96 m||1.27g/t||1.98m @ 1.97g/t||Current|
|-50 North||20.25||26.54||6.29m||1.82g/t||3.31m @ 2.85g/t||Current|
|“||103.5||118.5||15.0m||0,81g/t||2.87m @ 2.32g/t
3.0m @ 0.82g/t
|-50 North||65||73.5||8.5m||1.25g/t||1.50m @ 3.23g/t||Historic|
|-50 North||67.6||74.17||6.57m||2.75g/t||1.67m @ 6.57g/t||Current|
|“||133.5||142.6||9.1m||0.85g/t||1.58m @ 2.1g/t||Currernt|
|“||171.1||180.0||8.9||1.56g/t||4.5m @ 2.55g/t
1.5m @ 5.81g/t
The current and past results taken together confirm lateral and vertical continuity of the gold mineralization in this area along a 250 meter strike length and to a vertical depth of about 125 meters below surface. The strike and depth extensions of all the zones are completely unexplored. Previous programs have never tried to define the depth and strike extent of the zones in this and other areas on the Buell claims. The discovery of the new and wide zones in Zones C and D of Hole SP18-03 are very encouraging and will require significant follow up work.
ACCESS AND INFRASTUCTURE
The 36 Bruell claims are accessible from Val d’Or and Senneterre by paved Highways 117 and 113, and local forestry roads and logging trails. The property contains a number of structurally hosted vein and shear zone type gold occurrences. Two (2) shallow, vertical shafts, the Bruell 1 and Bruell 2, and one inclined shaft, the Avocalon were excavated on the claims. Exploration dates back to 1934, with the last significant work done in 2005.
Three other areas on the claims have also been selected for later testing. Each of these has encouraging gold values in past drilling and associated geophysical targets that have not been comprehensively tested.
Analytical work was performed by ALS Global Laboratories of Val d’Or Quebec and Vancouver B. C. Normal Quality Control and Quality Assurance procedures were followed including Chain of Custody monitoring and blank and duplicate sample analyses.
A. L. Barker M.A.Sc., P. Eng., P. Geol. is the Qualified Person under NI 43-101 for the technical information in this news release and has reviewed all available data for the Bruell Property and approved the contents of this news release.
For more information contact:
A. Lee Barker, M.A Sc., P. Eng., P.Geol.
President and CEO
Tel./Fax: 647-344-7734 or Mobile: 416-716-5762
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information set forth in this news release involves forward-looking statements under applicable securities laws. The forward-looking statements contained herein include, but are not limited to, financings and transactions being pursued, and all such forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although the Company believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct and, accordingly, undue reliance should not be put on such forward-looking statements. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.
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