Juniors
At the recently acquired Qued project, the pair are targeting possible depth-extensions of showings uncovered in trenching.
Samples from the trenches yielded as much as 8.8 grams gold per tonne in iron formation, and several widely spaced holes drilled to the south returned upwards of 1.4 grams over a metre of silicified and sericitized porphyry.
In exchange for the property, Sparton and Beaufield each issued 100,000 shares, plus a warrant for 200,000 more shares, to former owners
The majors also retain a 2.5% net smelter return royalty.
Qued covers 96 sq. km on the northern limb of the structure that hosts the David Bell, Williams and Golden Giant mines, which, combined, account for roughly 25% of Canada’s total annual gold production.
At the Little Black River property, near Heron Bay, drilling will test a showing that averages 1-12 grams gold.
The showing is characterized by sheared, silicified and mineralized feldspar porphyry and tuffacious volcanic rocks. A 400-metre-long soil anomaly coincides with the showing, and an electromagnetic anomaly sits off to the side.
At least one hole will be sunk in the JB-1 and JB-2 claims, which lie north of the Hemlo mines. The claims overlie untested airborne electromagnetic anomalies.
Meanwhile, ground geophysical surveying continues at the Melrose property, 4.5 km northwest of the Hemlo mines.
The surveys are following up a possible 8-km-long structural corridor outlined in an earlier, airborne survey. Several gold-in-soil anomalies coincide with the supposed structure.
Drilling is to begin after the spring break-up.
Sparton and Beaufield each own a half-interest in the Hemlo joint venture.
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