Sub-Audio Magnetics (SAM) locates multiple new targets at Penny West

Spectrum Metals Limited (‘SPX’ or ‘the company’) is pleased to announce the results of the SAM survey conducted in June 2019. Several new targets have been defined.
Key Points:

  • Results were received from Spectrum’s recently completed SAM survey.
  • Several new targets have been identified in the ‘gap zone’ from analysis of lithology, resistivity, magnetics and structure.
  • Additional targets have also been defined beyond the boundary of the Penny West Shear Zone to the east and west.
  • Recent lithological mapping and geochemical characterisation studies were also incorporated into the SAM interpretation.
  • The result is an increased understanding gained of the lithological and structural trends in the ‘Gap Zone’ between Penny North and Columbia-Magenta and over the entire SAM survey area.
  • Spectrum are currently increasing drilling capacity on site. Targets generated from the SAM survey will be methodically tested over the coming months.

Spectrum’s Managing Director, Paul Adams said “We are extremely pleased with the quality of the data received from our recent SAM survey at Penny West. The subsequent interpretation, utilizing all of the lithological and geochemical studies we have also recently undertaken, have contributed to a much greater understanding and appreciation of the prospectivity of the Penny West project area.