Sparton Resources Reports Start of Field Work at Sierra Rosario Project, Sinaloa, Mexico
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February 28, 2005
International Northair Mines Ltd. (TSXV: INM) (“Northair”) has been notified by Sparton Resources Inc. (TSXV: SRI) (“Sparton”), that field work has commenced on the companies’ Sierra Rosario project. The project lies along the western flanks of the Sierra Madre Occidental geological province in the state of Sinaloa, Mexico and was staked by Northair as part of it’s ongoing, highly successful, generative exploration activities in the region. Sparton entered into an agreement with Northair to explore Sierra Rosario in early 2004, and may earn a 51% interest in the property under certain terms and conditions.
Sierra Rosario hosts a number of gold and silver occurrences, some of which are associated with base metal mineralization discovered by Northair’s exploration staff in 2002. The San Rafael Zone, the principal zone identified by Northair, is associated with a northwest trending mineralized and silicified quartz feldspar porphyry which is exposed in an area approximately 200 metres long and 70 metres in width. Twenty-three chip channel samples taken from this zone by Northair in 2002 averaged 181 g/t silver and 0.32 g/t gold with eight grab samples averaging 200 g/t silver and 1.79 g/t gold (with a high value of 711 g/t silver and 10.79 g/t gold). These results indicate that the zone has the potential to host a bulk mineable polymetallic precious/base metal deposit.
In December 2004 Sparton staff conducted an initial sampling program that confirmed previous Northair results and indicated possible new areas of mineralization that required evaluation. (See Northair news release dated January 10, 2005). Sparton staff have recently returned to the project and commenced a program of grid establishment, geological mapping and soil and stream sediment sampling. To date approximately 400 soil samples and 50 rock samples have been taken and the program is ongoing. It is anticipated that completion of the initial work will require a minimum of six weeks and once analytical sample data is received, induced polarization and magnetic surveys will be used to cover selected areas with the objective of defining drill targets.
Sparton’s exploration program is 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. The terms of the Sierra Rosario Agreement allow Sparton to earn a 51% property interest by paying Northair $130,000(Cdn) in cash, issuing 275,000 common shares and incurring $800,000(Cdn) in exploration expenditures over a four year period.
Elsewhere in Mexico, Northair maintains its aggressive generative exploration program while planning additional work on its current property portfolio. The Company will continue to keep shareholders informed as exploration proceeds.
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