THE DRILL SERGEANT: Spectrum Metals (ASX: SPX) released further high-grade gold intersections from the company’s Penny North prospect in Western Australia.
Spectrum Metals is currently conducting an extensional Phase II RC drilling program at the Penny North prospect.
The latest results are from 12 recently completed holes with results pending from a further eight holes.
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.
Intersections achieved from the latest batch of assays received include:
5 metres at 13.3 grams per tonne gold from 202m within 9m at 6.9g/t gold from 200m;
1m at 24g/t gold from 231m within 7m at 4.9g/t gold from 225m, and 3m at 15g/t gold from 239m;
1m at 26g/t gold from 149m, within 13m at 3.2g/t gold from 141m;
1m at 18g/t gold from 111m, within 4m at 4.6g/t gold from 111m; and
1m at 8.2g/t gold from 134m.
The drilling has now extended the Penny North high-grade mineralisation down dip, south and north taking the gold mineral system at Penny West / Penny North to now measure 650m in strike length extending to a vertical depth of 230m and is open in all directions.
Spectrum indicated it still has a number of infill holes still to drill from its Phase I program under the Penny West pit, and as part of Phase II will follow up an earlier intersection in SPWRC006 of 5m at 28.9g/t gold from 203m, which it said is open in all directions and could represent a new zone of increased lode thickness.
“The Penny North Lode is displaying an apparent southerly high-grade plunge, much like the mineralisation associated with the Penny West lode beneath the open pit,” Spectrum Metals said in its ASX announcement.
“However, mineralisation remains open to the north with additional holes planned with the aim of extending the mineralisation in a northerly direction.”