THE DRILL SERGEANT: Spectrum Metals (ASX: SPX) continued its run of high-grade results from extensional RC drilling within the high-grade shoot at the company’s Penny North project.
Spectrum Metals received results from four new holes that returned results of:
4 metres at 63.1 grams per tonne gold from 289m, including 3m at 83.7g/t from 289m;
2m at 50.5g/t gold from 338m;
2m at 48.7g/t gold from 264m, including 1m at 95.5g/t gold from 264m;
2m at 27.1g/t gold from 2315m, including 1m at 44.6g/t gold from 315m.
The company also received results from parts of two holes from Penny South, including:
2m at 17.1g/t gold from 182m;
5m at 2.5g/t gold from 234m, including 1m at 5.7g/t from 237m.
The company claimed the result in SPWRC078 of 2m at 17.1g/t gold at Penny South indicates that the main lode continues to the south.
Further assay results at Penny South are pending and additional holes have been planned.
“We are very pleased to see continuing high-grade down plunge gold mineralisation at Penny North,” Spectrum Metals managing director Paul Adams said in the company’s announcement to the Australian Securities Exchange.
“In addition, early drilling at Penny South suggests this location may represent a new target in the short term.
“This is separate to hole SPWRC006 (5m at 28.9g/t from 203), that appears to represent a separate hanging wall position to the main lode.”