THE DRILL SERGEANT: Spectrum Metals (ASX: SPX) released the first results from a Phase II drilling program recently conducted at the company’s Penny North prospect in Western Australia.
Spectrum Metals has received results from three holes, including:
7 metres at 17.5 grams per tonne gold from 230m, within 11m at 11.7g/t gold from 229m;
1m at 180.3g/t gold from 206m, within 3m at 70.8g/t gold from 205m; and
1m at 12.3g/t gold from 205m, within 3m at 6.3g/t gold from 205m.
The company explained the high-grade results from Holes SPWRC039 and SPWRC040 are located down dip of previously reported hole SPWRC027, adding that holes SPWRC039 and SPWRC040 add approximately 80m of down dip extent to this section line and therefore doubles the down dip extent of the Penny North lode on this section.
Up dip holes SPWRC038 and SPWRC050 on the same section line are still awaiting assay results.
Spectrum has drilled a total of 20 holes in its Phase II program so far that is continuing.
“We are very excited to see the high tenor and high width of gold mineralisation continue in our Phase II program, particularly within hole SPWRC040 which is the deepest hole yet assayed at Penny North,” Spectrum Metals managing director Paul Adams said in the company’s announcement to the Australian Securities Exchange.
“It appears that the Penny North structure again widens at this location and remains open down dip and along strike.”