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Spectrum Metals Ltd.
Summary
| Project: | Penny West | |
|---|---|---|
| Deposit: | Penny West | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/21/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-2-2020: Spectrum Metals Ltd. announces an Exploration/Drilling Update report for its Penny West deposit at the Penny West project. Drilling results incl. 8.0m @ 0.92g/t Au from 292m. Spectrum Metals Ltd (“Spectrum” or “the company”) is pleased to annou | |
| 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 the planned drilling program for the Penny West Project in Western Australia. This will include Penny North, Penny South, Magenta and other prospects throughout the Penny West project area. Spectrum commenced its 2020 reverse circulation drilling program in late January. One RC rig is currently operating on a single shift basis. Initial focus has been on stratigraphic drilling of several areas on the Penny West leases to derive a better understanding of the geology, including the location of similar geological sequences that host the mineralisation at Penny West and Penny North. Several stratigraphic holes have been completed. Portable XRF (p-XRF) readings have also been taken to assist in the correct identification and interpretation of the geology. In addition, several holes have now been drilled at Magenta, to follow up on the high grade gold intersection in hole SPWRC125 of 4m at 11.1 g/t gold from 195m, including 1m at 41.0 g/t gold from 198m downhole, and other proximal targets in this part of the lease. A series of holes are planned around Penny North and at Penny South, where an updated interpreation of the major structural features indicate that previous drilling may not have adequately tested the main mineralised structure south of the historic Penny West open pit. | |
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