| Polymetallic – Critical Metals – Pense Property (Ontario/Quebec) The recent reconnaissance ground surveys completed at Pense, have confirmed strong electrical and coincident magnetic anomalies at all of the priority targets located by the airborne work. Line cutting of detailed survey grids has started and detailed ground surveys, using horizontal loop survey equipment, will begin after breakup, once line cutting is completed and ground conditions permit. The reconnaissance results indicate the presence or relatively short strike length conductive bodies with coincident or adjacent magnetic anomalies that are similar to those displayed by the mineralization reported in several drill holes from historical 1997 work. Please see Company news release dated February 28th, 2024. These are also similar to geophysical responses described in the literature for the world class Outokumpu-style critical minerals mineralization in Finland. About the Pense Property At Pense, there are a number of surface showings of steeply dipping sulphide mineralization hosted in intercalated sediments and mafic and ultramafic volcanic rocks (komatiites). At least 2 priority areas with past diamond drill hole intersections clearly warrant follow-up evaluation. These have been identified by the current airborne survey results and confirmed on the ground with follow-up work. Copper, Zinc, Gold, Silver, Nickel and Cobalt have all been reported from past surface sampling and historical drilling. The last significant drilling program on the Property was in 1997. One historical hole, in 1997, recorded 0.893% copper,1.30% zinc, 4.12 grams per tonne silver, and 1.69 grams per tonne gold, over a core length of 9.02 meters. This zone was not followed-up in detail with more drilling and is associated with a distinct magnetic and electromagnetic anomaly from past ground surveys. (Reference Ontario MNDM File Number MD131M13SE00008). This anomaly was confirmed by the current Target EM work. “The Pense Property appears to have been overlooked in recent years and there is enough documented polymetallic mineralization on the property to warrant this detailed survey work”, stated A. Lee Barker, Sparton’s CEO. “We are very encouraged with the results of the survey and follow-up work confirming that there are several new untested zones that have been located on the claims. The detailed ground survey delineation of these will lead to drilling, planned for later this year. The presence of significant gold mineralization is a bonus for this critical metals’ opportunity. With the current gold price reaching all-time highs, we believe that this overlooked style of mineralization in this area and the anomalous gold associated with the critical mineral’s mineralization is a bonus for the Pense project.” |
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