Sparton Resources Inc

Published : February 21st, 2008

Begins Drilling Program On New Brunswick Copper-Uranium Project

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Keywords :   Canada | China | Copper | G Mexico | Germanium | Mexico | Phosphate |
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February 20, 2008  
     
     
 
 

SPARTON RESOURCES INC.

Sparton Begins Drilling Program On New Brunswick Copper-Uranium Project

 
     
 
 

Sparton Resources Inc.(TSX VENTURE: SRI) (the "Company") reported today that it has begun a drilling program on its 100% owned 'Whiskey' copper - uranium project claim area in central New Brunswick. The program is expected to last approximately 6 weeks and involve 1200-1500 metres of core drilling, which will test 4 to 6 target areas developed from last year's surface exploration program. (See news release dated February 7, 2007).

2007 RESULTS

The 2007 program involved geological mapping, prospecting, geophysical VLF electromagnetic and magnetic surveys, as well as soil and water sampling over the Company's three large claim block areas which total over 4000 hectares in area. Final analytical results were received in mid January 2008. The results for grab samples taken from the various claim areas have shown that over 30% of the samples contain greater than about 0.012 % U308, with results varying from less than 0.003% U3O8 (25 ppm U) up to about 0.10% U3O8 (800 ppm U). Anomalous copper values vary from 0.04% Cu to over 1% Cu, and some of these are associated with high uranium values as well. Several semi-continuous horizons of uraniferous phosphatic sediments were also located which contain as much as 10% phosphate (P2O5) and 0.06% U308. These results are consistent with available historical data for the area but most of the samples reported here represent new occurrences. These horizons vary from about 20 cm to over 2 metres in thickness and can be traced for several hundred metres.

Detailed soil sampling in overburden covered areas has also indicated several anomalous areas with coincident values of up to 270 ppm uranium and 40 ppm copper.

All analytical data reported here are from analyses done by SGS - Lakefield Laboratories of Toronto, Canada.

The geophysical VLF EM and magnetic survey results have also highlighted a number of conductive trends which are associated either with the anomalous soil zones or covered areas along strike from anomalous rock samples. Several of these appear to be associated with the flanks of magnetic highs representing uplifts in the underlying basement rocks. These may be related to structures associated with the unconformity between the basement igneous and metamorphic granitic rocks and younger sediments. These targets will be tested in the current drill program.

DRILL PROGRAM

The initial program will involve approximately 8-10 drill holes testing at least 4 separate target areas. The holes are planned to vary from 150 to 250 metres in length and will test coincident geophysical and geochemical targets as well as the uranium bearing phosphatic sediment horizons. Depending on results a second phase drill program may be implemented later this year.

Results will be reported when available.

Sparton's domestic and international exploration and evaluation programs are being carried out under the direct supervision of A. Lee Barker, P. Eng., P Geol., the Company's President and CEO who is a Qualified Person under National Instrument 43-101.

(i)(i)Notes: - ppm equals parts per million - to convert from U value to U308 value multiply U value by approximately 1.18

 

Contacts:  
A. Lee Barker, President and CEO
Tel.: 416-366-3551 Mobile: 416-716-5762
Fax: 416-366-7421
E-mail:
info@spartonres.ca
Edward G. Thompson
Chairman
(416) 366-6083
(416) 366-2713 (FAX)
Email:
egt@interlog.com

SPARTON RESOURCES INC. Company website: www.spartonres.ca
Listed:TSX Venture Exchange
Trading Symbol: SRI
.

The TSX Venture Exchange has not reviewed and does not accept responsibility for adequacy or accuracy of the content of the information contained herein.

 
   
 

     
Other Recent Sparton Resources News:    
         
Special Report
Management Discussion
February 8, 2008
 
LEE BARKER,
SPARTON PRESIDENT
Lee Barker   &  

MICHAEL VAUGHAN, BUSINESS JOURNALIST

Michael Vaughan
     
     
Sparton Signs Three Key Agreements for Uranium and Germanium Production in China  
JOINT VENTURE CONTRACT SIGNED FOR OPERATING COMPANY
     
         
Update on Sparton's
Sierra Rosario Project
  Northair Discovers High-Grade Mineralization
at Sierra Rosario Project, Mexico
 
.
         
   
   
     
Data and Statistics for these countries : Canada | China | Mexico | All
Gold and Silver Prices for these countries : Canada | China | Mexico | All

Sparton Resources Inc

EXPLORATION STAGE
CODE : SRI.V
ISIN : CA8472431029
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Sparton Res. is a silver exploration company based in Canada.

Sparton Res. holds various exploration projects in Canada, in China, in Mexico and in Mongolia.

Its main exploration properties are WEMINDJI, BLIZZARD and WHISKEY in Canada, SIERRA ROSARIO in Mexico, LUXI in China and TIANSHAN GOLD BELT in Mongolia.

Sparton Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 4.5 millions as of today (US$ 3.3 millions, € 3.0 millions).

Its stock quote reached its highest recent level on December 31, 2004 at CA$ 1.05, and its lowest recent point on October 02, 2015 at CA$ 0.01.

Sparton Res. has 111 375 460 shares outstanding.

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