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Spectrum Metals Ltd.
Summary
| Project: | Penny West | |
|---|---|---|
| Deposit: | Magenta | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 3/13/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-3-2020: Spectrum Metals Ltd. announces an Exploration/Drilling Update report for its Magenta deposit at the Penny West project. Drilling results incl. 1m @ 54.9ppm Au from 77m. Spectrum Metals Ltd (“Spectrum” or “the company”) is pleased to announce th | |
| Resources: | (Resource, I+I): 0.799Mt @ 13.8g/t Au at Penny West total | |
| CP/QP: | [Overall Report]: John Downing (Internal) | |
| ABSTRACT: | Spectrum Metals Ltd (“Spectrum” or “the company”) is pleased to announce that drilling at the Magenta Prospect and on a new, early stage target named Golden Hinde, at the company’s Penny West Project in Western Australia has intersected further high-grade gold mineralisation. Two drill holes at Magenta, following up on the 1m at 41 g/t gold intersection in hole SPWRC125, have intersected quartz and base metal sulphides similar to that seen at Penny North and Penny West. Hole SPWRC162 recorded an intersection of 3m at 9.62 g/t gold from 226m down hole including 2m at 13.0 g/t gold from 226m. In addition, hole SPWRC161 at Magenta, located 30m north of SPWRC162, has intersected 2m at 6.6 g/t gold from 211m including 1m at 12.1 g/t gold from 211m Further drilling at Magenta will be undertaken to extend the strike length of the gold mineralisation at depth. Two additional drill holes at Magenta have assay results pending. Preliminary assays have been received from a single startigraphic hole, SPWRC154, targeting a ground EM anomaly at a new prospect called Golden Hinde. A high grade gold intersection of 1m at 54.9 g/t gold from 77m downhole has been recorded. | |
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