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Spectrum Metals Ltd.
Summary
| Project: | Penny West | |
|---|---|---|
| Deposit: | Penny North, Penny West | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/24/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-10-2019: Spectrum Metals Ltd. announces a Resource Estimation report for its Penny North, Penny West deposit at the Penny West project. Initial mineral resource estimate for project. Spectrum Metals Limited (‘SPX’ or ‘the company’) is pleased to announ | |
| Resources: | (Resource, I+I): 0.799Mt @ 13.8g/t Au at Penny West total | |
| CP/QP: | [Resources]: Paul Payne (Payne Geological Services) | |
| ABSTRACT: | Spectrum Metals Limited (‘SPX’ or ‘the company’) is pleased to announce a maiden JORC 2012 Mineral Resource Estimate (“Resource”) at the Penny West Gold Project totaling 799,000 t at 13.8 g/t Au for 355,500 oz of contained gold. Managing Director Mr Paul Adams commented: “Spectrum is extremely pleased to be publishing this Maiden Resource only 8 months from discovery of the Penny North Lode. At an all-in discovery cost of $10 per ounce this has been a very exciting year for all stake holders in Spectrum and we anticipate the further rapid growth of this gold system. Planned drilling will also aim to bring the Magenta and Columbia prospects to resource status.” | |
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