THE DRILL SERGEANT: Spectrum Metals (ASX: SPX) announced results from a further three holes from recent drilling at the Penny North lode, located south of the Youanmi mining centre in Western Australia.
Highlights from the results include:
4 metres at 105.2 grams per tonne gold from 151m, including 1m at 292.8g/t gold from 153m;
2m at 19.7g/t gold from 115m; and
1m at 10.8g/t gold from 154m.
Spectrum Metals explained the intersection in hole SPWRC022 was encountered immediately down dip of previously released hole SPWRC018, which recorded an intersection of 4m at 35.2g/t within 9m at 16.2g/t gold from 130m.
The company declared the new results add another high-grade section line to the south in the Penny North lode and increases its knowledge of the continuity of the high-grade mineralisation around the initial discovery.
Assays are pending for other drilling – Magenta (3 holes), Penny West (11 holes) and Penny North (12 holes).
“The intersection of four meters at 105.2 grams per tonne gold in hole SPWRC022 is the highest-grade intersection yet seen in our program at Penny North and lies down dip of four metres at 35.2 grams per tonne,” Spectrum Metals managing director Paul Adams said in the company’s announcement to the Australian Securities Exchange.
“At this location, the lode is exhibiting a very strong tenor and builds on our knowledge base of the distribution of high-grade within the lode structure.
“As more results become available, we expect to be able to discern the orientation of this high-grade zone which in turn will inform our targeting of the gold system down plunge as our program continues.”