Auger Geochemistry Identifies Five High Priority Targets ahead of RC drilling at Penny West
Spectrum Metals Limited (“SPX” or “the Company) is pleased to announce the results of the auger geochemistry program conducted last year over both the mining leases at Penny West. Five high-priority targets have been identified, with the highest priority target scheduled for Reverse Circulation (RC) drilling within three (3) weeks, in addition to high grade mineralisation beneath the Penny West open pit.
Sample results have been received and interpreted for the auger geochemistry program conducted in 2018.
Gold results up to 477 ppb gold against a median of just 4 ppb
Five high priority targets have been identified from a total of 18 anomalies.
Results have highlighted important structural features.
A potential pegmatite has been discovered around the Youangarra East prospect.
The Columbia-Magenta Prospect, 2km north of the Penny West deposit, emerges as an area of future gold focus.
Mineralisation previously identified at Magenta remains open to the south down plunge, with Columbia open to the south west.
A maiden 4,500m Reverse Circulation (RC) drilling program is scheduled to commence late January/early February targeting high grade mineralisation below the Penny West open pit, a possible off-set position of the Penny West lode to the north and depth and plunge extensions at Magenta.
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