11:22:12 EDT Sun 03 Jul 2022
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or Name

Sparton Resources Inc
Symbol SRI
Shares Issued 146,941,537
Close 2022-02-22 C$ 0.095
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Sparton Resources begins IP survey at Oakes

2022-02-23 12:30 ET - News Release

Mr. Lee Barker reports


The induced polarization (IP) survey covering Sparton Resources Inc.'s Oakes area and surrounding claims near Matachewan, Ont., has started. As well, mobilization in order to carry out the 5,000-metre drill program at the Bruell project in Quebec is in process, with drilling expected to begin the first week of March.

Oakes IP program

The survey has been contracted to Canadian Exploration Services Ltd. of Larder Lake, Ont., and will involve the use of a distributed array IP electrode system. This will enable effective data to be generated under Hawley Lake. Only limited line cutting is required for this method which can use existing trails and roads on the property.

Project objectives are to establish size geometry and extent of the mineralization in the vicinity of the old Oakes supported shaft and other zones nearby. The work is expected to be completed by mid-March and results available by the end of that month.

Bruell drilling program

As reported in the company news release dated Jan. 25, 2022, Eldorado Gold Corp. has indicated that the 5,000-metre core drilling program at Bruell will begin the first week of March, 2022. The work will comprise a number of holes to test several target areas located by Eldorado in its comprehensive work program as well as the new mineralization located by the company in its earlier work. It is expected to continue for several months depending on weather conditions. Access has been prepared and equipment is being mobilized to the property.

"We are looking forward to positive results from these programs," stated Lee Barker, company chief executive officer. "The Oakes geophysical work should provide a clearer understanding of the geometry and distribution of structures and mineralization at Oakes and help guide a new drilling program there later this year. Eldorado's comprehensive drill testing of the various targets outlined is expected to greatly enhance the potential of the Bruell property."

About Sparton Resources Inc.

Sparton is a mineral exploration company currently focused on exploring gold projects near producing mines on or near the major gold producing trends in Eastern Ontario and western Quebec where it holds interests in two exploration prospects. The Bruell property in Quebec, which hosts a new gold discovery, is under option to Eldorado Gold, which owns the nearby producing Lamaque mine. The Sir Harry Oakes gold property in Ontario is in close proximity to Alamos Gold's producing Young Davidson mine.

Sparton also holds a 9.8-per-cent interest in VRB Energy Inc., a leading vanadium flow battery manufacturing company that is currently private.

Mr. Barker, MASc, PEng, is the qualified person under National Instrument 43-101 responsible for the technical information in this news release, has reviewed all available data for the projects discussed here, and has approved the contents of this news release.

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