Sparton Resources Inc.: Encouraging Results From Second Drill Program on Quebec Gold Property
TSX VENTURE: SRI
TORONTO, April 25, 2019 (GLOBE NEWSWIRE) -- Sparton Resources Inc. (TSXV:SRI) ("Sparton" or the "Company") announced today that it has received final assay results from the second three-hole drill program completed on the Bruell Gold Property in Vauquelin Township, Quebec. The three holes all intersected gold mineralization and were completed for a total of 818 metres. Mineralization in five of the six holes completed appears to be continuous along the 200 metre strike length tested. Please see Company News Release dated May 28, 2018 for previous results.
The second program involved continued testing of the ”Vein Zone” area on the east part of the claims, east of the Avocalon shaft, where several past drill holes and the 2018 program returned encouraging gold values. A wider shear zone (the “D Zone”) hosting gold mineralization (1.56g/t over 8.9 metres, including 5.81 g/t over 1.5 metres) was discovered in the Hole SP18-3 in the earlier Sparton program and has been intersected in hole SP19-06 only. Hole SP19-05 did not go deep enough to cross this zone and hole SP 19-04 drilled 50 metres east of Hole SP 18-03 did not intersect any of the zones to the west. (please see the drill hole compilation plan maps on the company website www.spartonres.ca).
It is felt that a north east trending fault exists between holes SP 18-03 and SP19-04 which has offset the various mineralized zones possibly to the north. The Induced Polarization (“IP”) anomaly associated with this area appears to be offset in a northerly direction as well.
The new results support continuity of the historical zones intersected in earlier drill programs both laterally and vertically.
All holes were drilled to the north as in the 2018 work. 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 75-85 degrees.
A plan map of the drilled area with cross sections will be posted on the company website www.spartonres.ca following this news release.
|Hole # Zone #||Angle||From||To||Length||Assays||Including||Notes||Remarks|
Did not cross main shear zones
|-52 N||120.0||121.5||0.5 m||2.82g/t||0.51m @2.82g/t||Current|
|SP18-05||-50 N||82.5||85.5||3.0 m||2.4 g/t
Incl 4.7g/t over 1.5m
Did not go deep enough to cross “D” Zone
The current and past results taken together support lateral and vertical continuity of the gold mineralization in this area along a 250-metre strike length and to a vertical depth of about 125 metres below surface. The strike and depth extensions of the zones are unexplored in the 400 metre interval westwards towards the Avocalon/Aurora shaft area. Previous programs mainly tried to define the depth and strike extent of the quartz vein zones in this and other areas on the Bruell claims. The wider shear zones were not explored in detail. The discovery of the new and wide zones in Zones C and D of Hole SP18-03, and SP-06 are very encouraging and will require more follow up work. The possible offset of the shear and vein zone system to the north based on the SP19-04 results and the IP data will be investigated further.
ACCESS AND INFRASTRUCTURE
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.
Three other areas on the claims have also been selected for later testing in addition to the extensions of the current mineralized area. 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. Results are reported in grams per tonne (“g/t”) gold.
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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