Sparton Resources Inc

Published : August 15th, 2008

Northair Reports New Results From Sparton's 51% Owned Mexico Joint Venture Property

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
 
|
|
|
|
|
     
 
  August 12, 2008  
 
 

SPARTON RESOURCES INC.

Northair Reports New Results From Sparton's
51% Owned Mexico Joint Venture Property
 
 
 
 
Northair Reports 34.8 Metres of 192 g/t Silver From Trenching
at Sierra Rosario Project, Mexico; Drill Program Planned
   
       
 

International Northair Mines Ltd. ( INM ) (the "Company" or "Northair") and Sparton Resources Inc. ( SRI ) are pleased to announce results from a recently completed trenching and surface sampling program at the Sierra Rosario Project located in the state of Sinaloa, Mexico. Highlights of the program include 34.8 metres of 192 g/t silver with 0.22 g/t gold; and 27 metres of 91.8 g/t silver with 0.15 g/t gold from the San Rafael Zone. Drilling of the zone is planned in the fall.

The Sierra Rosario Project is comprised of at least six significant zones of precious metal mineralization, including the San Rafael Zone and the recently discovered Descubriadora and Dulces Nombres Zones in the northern portion of the property.

An access road was recently constructed to the San Rafael Zone and the area of the other newly discovered zones. This road allowed mechanical trenching to be completed and will facilitate the fall drill program. A total of 321 samples were taken in 20 sample lines from outcrops in roads and trenches throughout the San Rafael Zone. Samples were generally continuous 3 metre chips, with results summarized below:


San Rafael Zone
Chip Sample Summary

Sample
 Line 
   
Intervals
(metres) 
Average
Silver
 (g/t) 
Average
Gold
(g/t) 
 
1
 
15.0
12.0
1.07
2
 
21.0
33.4
0.24
3
 
Anomalous
(Range 1.0 - 27.5)
Anomalous
(Range 0.02 - 0.19)
4.
 
18
67.65
0.58
5
 
57.2
36.4
0.13
includes
 
9.0
84.5
0.08
includes
 
6.0
98.1
0.37
6
 
34.8
192.0
0.22
7
 
3
87.9
0.06
8
 
Anomalous
(Range 4.1 - 43.3)
Anomalous
(Range 0.02 - 0.19)
9
 
45.0
68.7
0.19
includes
 
27.0
91.8
0.15
10
 
39.3
50.8
0.17
11
 
17.0
46.7
0.15
12
 
Anomalous
(Range 2.2 - 48.0)
Anomalous
(Range 0.02 - 0.43)
13
 
Anomalous
(Range 1.0 - 16.6)
Anomalous
(Range 0.01 - 0.25)
14
 
Anomalous
(Range 0.1 - 31.1)
Anomalous
(Range 0.01 - 1.42)
15
 
24.0
39.3
0.16
16
 
15
30.4
0.55
17
 
24.0
52.7
0.32
18
 
NSV
NSV
19
 
NSV
NSV
20
 
NSV
NSV

 

Refer to the Company's website www.internationalnorthair.com for a map showing the location of the sampling.

 

The San Rafael Zone contains a granodiorite porphyry intruding limestone and siltstone overlain by andesite volcanics. The porphyry is an irregular shaped body on surface measuring approximately 250 by 120 metres. Within the granodiorite are numerous moderate to high-angle faults that locally influence higher grades of mineralization. Mineralization occurs as veins, stockwork and dissemination throughout the porphyry and is also locally evident in both the volcanics and sediments. Of particular interest is Sample Line 1 (see Summary Table) in andesite volcanics, which returned 15 metres of 1.07 g/t gold. Skarn mineralization also exists approximately 175 metres to the southeast of the intrusive body, with 17 select panel and float samples returning values ranging from background to a high of 3.80 g/t gold and 882 g/t silver. There appears to be excellent potential that the San Rafael Zone could be far more extensive than the present surface exposure and drilling will be required to establish the grades and geometry of the intrusive at depth.

 

The project is being explored by a joint venture with Sparton Resources Inc. who has recently earned a 51% interest in the project by completing cash payments of $130,000, and issuing 275,000 common shares to Northair while incurring $800,000 in exploration expenditures. Northair is the manager of the program through the completion of a first phase of drilling, which is scheduled for the fall of 2008.

 

The current phase of the program is being supervised by Mr. Jim Robinson, Vice President of the Company, who is a Qualified Person as defined by National Instrument 43-101. Northair maintains a quality control program using best industry practices consistent with NI 43-101. Samples reported in this release were submitted to ALS Chemex Labs in Hermosillo, Mexico, with gold assayed by a 50 gram digestion with fire assay - atomic absorption finish. Silver and other elements were assayed by aqua regia acid digestion with ICP finish. Silver samples reporting over 100 ppm were re-assayed by atomic absorption finish.

 

ON BEHALF OF THE BOARD, INTERNATIONAL NORTHAIR MINES LTD.
Fred G. Hewett, P.Eng., President & CEO

 

This news release may contain forward looking statements which are not historical facts, such as ore reserve estimates, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involves a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, metal price volatility, volatility of metals production, project development, ore reserve estimates, future anticipated reserves and cost engineering estimate risks, geological factors and exploration results. See the Company's AIF Report and filings for a more detailed discussion of factors that may impact expected results.

     
Sparton Contacts:    
Sparton Resources Inc.
A. Lee Barker
President and CEO
(416) 366-3551 or Mobile: (416) 716-5762
(416) 366-7421 (FAX)
Email: leebarker@spartonres.ca
  Sparton Resources Inc.
Edward G. Thompson
Chairman
(416) 366-6083
(416) 366-2713 (FAX)
Email: edthompson@spartonres.ca
Website: www.spartonres.ca
   

   
       
  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:    
         
COPPER-MOLYBDENUM
 
         
         
  Randoph Buss' GMR Letter
  A Few Gems Amongst Them
"Uranium, Germanium, Gas, Gold"
 
       
         
         
Special Report
Management Discussion
June 24, 2008
 
LEE BARKER,
SPARTON PRESIDENT
Lee Barker   &  

MICHAEL VAUGHAN, BUSINESS JOURNALIST

Michael Vaughan
     

 

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

     
   
     
Data and Statistics for these countries : Mexico | All
Gold and Silver Prices for these countries : Mexico | All

Sparton Resources Inc

EXPLORATION STAGE
CODE : SRI.V
ISIN : CA8472431029
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

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.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of Sparton Resources Inc
Annual Report 2007
Financings of Sparton Resources Inc
3/14/2011Arranges $1.51 Million Financing; Strategic Investor Acquire...
10/22/2009Closes Second Tranche of Non-Brokered Private Placement Fina...
10/8/2009CLOSES INITIAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENT FIN...
9/24/2009Announces Non-Brokered Private Placement Financing
1/14/2008Closes Private Placement Financing
Project news of Sparton Resources Inc
8/17/2011(Sierra Rosario)Closes Sale Agreement with American Consolidated Minerals Co...
5/11/2011(Sierra Rosario)Concludes Sale Agreement for Interest in Sierra Rosario Proj...
8/12/2010Provides Further Information And Clarification On Its Recent...
5/12/2010Reports Additional Drilling Results from Marmion Gold Projec...
3/2/2010REPORTS ENCOURAGING DRILLING RESULTS AT MARMION GOLD PROJEC...
8/15/2008(Sierra Rosario)Northair Reports New Results From Sparton's 51% Owned Mexico...
8/11/2008(Whiskey)Locates New High Grade Copper-Moly Zone at Whiskey Project-N...
4/2/2008(Sbd)SBD Gold Project, Nevada; Advanced Royalty Payment Made in S...
2/21/2008 Begins Drilling Program On New Brunswick Copper-Uranium Pro...
Corporate news of Sparton Resources Inc
1/26/2016Sparton Resources Inc.: Vanadium Flow Battery Successfully C...
4/16/2015Sparton Enters Settlement Agreement Respecting Claim Against...
4/16/2015Enters Settlement Agreement Respecting Claim Against Anthem ...
1/9/2014Retirement of Sparton Chairman
1/28/2013Announces Sale of Germanium Assets
9/10/2012New Mining Licence Received for China Germanium Operations
12/6/2011Invite to Holiday Party at Head Office - December 15, 2011 -...
7/14/2011Closes Initial Phase of Option Agreement for Sale of Nevada ...
6/22/2011Signs Option Agreement for Sale of Nevada Gold Project
5/17/2011and Osisko Finalize $1.2 Million Joint Work Program for 2011...
4/21/2011Announces Debt Reduction and Restructuring
4/12/2011Announces Exclusive Agreement to Acquire 80% Interest in Ren...
3/21/2011and Osisko Mining Corporation Finalize Joint Venture Agreeme...
8/4/2010Finalizes initial Acquisition Phase of Guojiaping Vanadium-U...
7/14/2010Named 2010 BEST CLEAN TECHNOLOGY COMPANY-Asia From World Fin...
6/16/2010Annual Meeting Invite - Tuesday, June 22, 2010 @ 11.00 a.m.
4/19/2010Secondary Uranium Recovery Programs Highlighted on BBC Radio
4/12/2010Highlighted in THE ECONOMIST
3/5/2010Invite to Visit Sparton at the Upcoming PDAC- March 7 - 8 (2...
2/22/2010Wall Street Journal Highlights Sparton
1/27/2010ANNOUNCES SECOND CONCENTRATE SALE AND 2009 REVENUE FROM HUAJ...
12/19/2009Season's Greetings
11/27/2009Holiday Party (at Toronto office)
9/1/2009Receives Notice from EXXONMOBIL of Initial Development Study...
8/27/2009and NuCoal Sign Agreement to Evaluate NuCoal's Saskatchewan ...
6/24/2009Annual Meeting June 25, 2009
2/10/2009Highlighted in Nuclear Industry Publication
11/21/2008Signs Milestone Agreement for Design and Construction of Coa...
9/13/2008MineSite.com Article
7/22/2008Reviewed as "A Few Gems Amongst Them" - Uranium, Germanium, ...
6/25/2008Financing To Complete Acquisition of Profitable COAL/GERMANI...
6/24/2008Annual Meeting - June 24, 2008
4/23/2008Signs Final Share Purchase Agreement for Germanium Productio...
3/26/2008 Reports Encouraging Leach Test Results From Lincang Area Co...
3/3/2008 Receives Patent for the Extraction and Recovery of Uranium ...
1/31/2008Signs Three Key Agreements for Uranium and Germanium Product...
1/3/2008Reports First Results from Coal Ash Waste Sampling Program i...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (SRI.V)FRANKFURT (SVZ.F)
0.040+14.29%0.010+42.86%
TSX-V
CA$ 0.040
04/26 11:08 0.010
14.29%
Prev close Open
0.035 0.040
Low High
0.040 0.040
Year l/h YTD var.
0.030 -  0.050 -%
52 week l/h 52 week var.
0.030 -  0.060 -%
Volume 1 month var.
3,500 33.33%
24hGold TrendPower© : 21
Produces
Develops
Explores for Diamonds - Gold - Silver - Uranium
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2024-20.00%
2023-9.09%0.080.03
2022-21.43%0.120.06
202140.00%0.210.04
2020100.00%0.080.02
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.70-0.65%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 12.26+2.68%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.53-1.87%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.64-1.86%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 16.23+4.04%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24+4.26%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.20+2.63%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.88+0.53%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 52.71+0.19%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+5.56%Trend Power :