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Spectrum Metals Ltd.
Summary
| Project: | Penny West | |
|---|---|---|
| Deposit: | Penny North | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/18/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 18-9-2019: Spectrum Metals Ltd. announces an Exploration/Drilling Update report for its Penny North deposit at the Penny West project. Drilling results incl. 6m @ 11.1g/t Au from 319m. Spectrum Metals Limited (‘SPX’ or ‘the company’) is pleased to announc | |
| Resources: | x | |
| CP/QP: | [Overall Report]: John Downing (Not stated) | |
| ABSTRACT: | Spectrum Metals Limited (‘SPX’ or ‘the company’) is pleased to announce further high-grade results from the extensional RC drilling at Penny North and the first diamond drill core intersection through the Penny North lode. These results have extended the mineralisation extents further south down plunge and further down dip with the deepest hole yet drilled into the Penny North lode. The intersection in hole SPWRC082 of 6m at 10.0 g/t gold including 2m at 28.3g/t gold from 348m is located at a downhole depth of 348m and lies approximately 80m below the hole immediately up dip. The high-grade shoot within the Penny North lode remains open down plunge and down dip. Spectrum are very pleased to announce the commencement of diamond drilling at the Penny West Project, with the first of four (4) designed diamond drill holes having been completed. The first hole, SPWD003 intersected the main lode structure at 221.0m downhole with the main structure being 2.0m in length. The lode comprises mostly a quartz lode with abundant, occasionally, massive sulphide assemblages dominated by pyrite and pyrrhotite. Abundant galena occurs at sulphide assemblage margins. In some areas the sulphide resembles a sulphidic breccia. Of particular interest is the competency of the core. The competency in the hanging wall was extremely good and this characteristic occurred all the way through the mineralised zone also. See figures below. As a general comment, in any mining scenario, highly competent rock masses generally reduce costs and reduce the potential for mining dilution in underground mines, particularly if there is a high degree of competency in the hanging wall. | |
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