For thousands of other reports visit RSC's Mineral Intellingence Map
Spectrum Metals Ltd.
Summary
| Project: | Penny West | |
|---|---|---|
| Deposit: | Penny North | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/16/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 16-7-2019: Spectrum Metals Ltd. announces an Exploration/Drilling Update report for its Penny North deposit at the Penny West project. Drilling results incl. 5m @ 24.4g/t Au from 241m. Spectrum Metals Limited (“SPX” or “the Company”) is pleased t | |
| Resources: | x | |
| CP/QP: | [Overall Report]: John Downing (Not stated) | |
| ABSTRACT: | Spectrum Metals Limited (“SPX” or “the Company”) is pleased to announce continuing high tenor gold results from the Phase II drilling program at the Penny North prospect. Spectrums Managing Director, Paul Adams said “The Spectrum Board are very encouraged by what we are seeing at Penny North with the latest set of results and the panned gold from three additional holes indicating the expansion of the high‐grade zone at depth. The board has decided to allocate further resources to allow for an expedited drill program.”. Final assays were also received from the previously reported hole SPWRC054. A full list of intersections from the latest drilling can be found in Table 2. Penny North Section 6807170N, (see Figure 1 below) displays summary geology and gold grade within RC holes drilled during the 2019 Phase I and Phase II drilling programs. Drilling from surface at Penny North intercepts multiple mixed archaean lithologies. The first geological package is chloritized and consists of repeating units of potentially folded and texturally obliterated ultramafic‐thru‐dioritic schists, possibly structurally terminating against a sericite‐silica‐pyritic mylonite schist. The mylonite serves as a distinct sheared contact between the upper chlorite zone and the lower main chlorite‐talc ultramafic schist. This package overlies a series of fine then medium grained, biotite‐pyrite‐pyrrhotite and weakly silica‐ altered felsic to intermediate granodiorite units. Mineralisation is hosted within a high‐grade sulphidic polymetallic (Py‐Po‐Au‐Ag‐Pb‐Zn) quartz vein at Penny North and is adjacent to the contact between these two deformed meta‐intrusives. Hanging wall mineralisation is also hosted within the biotite‐altered granodiorites. A distinctive feature of the main lode at Penny West and Penny North is the presence of galena and sphalerite, often exceeding percent values. The lode is sub‐parallel to the lithology and is moderately dipping between 50 and 60 degrees to the east. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report