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Sparton Resources Inc

Publié le 15 août 2008

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

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Mots clés associés :   Copper | G Mexico | Germanium | Uranium |
 
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  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
.

     
   
     

Sparton Resources Inc

EXPLORATEUR
CODE : SRI.V
ISIN : CA8472431029
Suivi et investissement
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Sparton Res. est une société d’exploration minière d'argent basée au Canada.

Sparton Res. détient divers projets d'exploration au Canada, au Mexique, en Chine et en Mongolie.

Ses principaux projets en exploration sont WEMINDJI, BLIZZARD et WHISKEY au Canada, SIERRA ROSARIO au Mexique, LUXI en Chine et TIANSHAN GOLD BELT en Mongolie.

Sparton Res. est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 4,5 millions CA$ (3,3 millions US$, 3,0 millions €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2004 à 1,05 CA$, et son plus bas niveau récent le 02 octobre 2015 à 0,01 CA$.

Sparton Res. possède 111 375 460 actions en circulation.

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