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Spectrum Metals Ltd.
Summary
| Project: | Penny West | |
|---|---|---|
| Deposit: | Penny North | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/25/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 25-6-2019: Spectrum Metals Ltd. announces an Exploration/Drilling Update report for its Penny North deposit at the Penny West project. Drilling results incl. 9m @ 6.9g/t Au from 200m. Spectrum Metals Limited (“SPX” or “the Company”) is pleased to announce | |
| 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 assays from the Phase II drilling program at the Penny North prospect. In addition, SPX has completed preliminary metallurgical test work on composites of RC chips from high grade intersections, with exceptional results. Spectrum Metals is pleased to announce further high-grade gold intersections from the Penny North Prospect as the company continues its extensional Phase II RC drilling program. Spectrum has received assay results from the next 12 holes. A further 8 holes have been completed with assay results still pending and an additional 11 holes have been designed and are yet to be drilled. So far, SPX has drilled 44 RC holes into the Penny North prospect. Spectrum has been routinely panning RC chips from suspected lode positions at Penny North throughout its Phase I and Phase II drilling programs. In the field, sample fines (passing a 2mm sieve) are taken from an approximately 1kg subsample of the RC chips removed from the individual one (1) metre rig sample. Panning of these fines has been found to allow for an immediate qualitative assessment of the mineralogy, and in particular the presence of galena and gold. Galena is known to be associated with high grade gold results at Penny West and at Penny North (see Figure 1). In this way, Spectrum’s management and in-field geology team have been able to design further extensional holes in real time to extend the predicted high-grade zones without the requirement to wait until final assays results are received from the laboratory. Of the holes with assays pending, at least four (SPWRC055, 056, 059 and 060) have been shown to contain coarse, visible gold in pannings. | |
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