Canada markets open in 3 hours 39 minutes

Sparton Resources Inc. (SRI.V)

TSXV - TSXV Real Time Price. Currency in CAD
Add to watchlist
0.06000.0000 (0.00%)
At close: 3:22PM EDT
Full screen
Previous Close0.0600
Open0.0650
Bid0.0600 x 0
Ask0.0650 x 0
Day's Range0.0600 - 0.0650
52 Week Range0.0200 - 0.0700
Volume546,000
Avg. Volume205,622
Market Cap8.202M
Beta (5Y Monthly)0.83
PE Ratio (TTM)N/A
EPS (TTM)-0.0010
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • GlobeNewswire

    Sparton Resources Inc.: Oakes Gold Project - Historical Data Located - Drilling Program Enhanced

    TORONTO, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Sparton Resources Inc. (TSXV.SRI) ("Sparton" or the "Company") announced today that it has located a comprehensive data set of the past work carried out on the Oakes Gold Project, near Matachewan, Ontario.  The information has been graciously provided by the family of the late Robert Peters, one of the former partners who managed the mining syndicate supported by the Harry Oakes interests up until 1995. These data will permit accurate placement of new drill holes for the upcoming drill program. HIGHLIGHTS FROM HISTORICAL DATA   Three drill holes near the shaft, and chip sampling in the shaft as well as in nearby trenches reported:              * Grab samples apparently taken along the length of the 29 foot (8.5 meter) crosscut at the bottom of the shaft reportedly ranged in values from 0.06 to 9.02 ounces per ton (1.86 to 297.98 grams per tonne);   * Chip sample assays in trenches near the shaft reportedly ranged from 2.45 ounces per ton over 0.83 feet (76.0 g/ton over 0.25 metres) and 0.24 Oz/ton Au (8.23 grams per tonne) over 4 feet (1.22 metres) to 0.08 Oz Au per ton (2.74 grams per tonne) over 16 feet (4.9 metres):   * Chip samples taken in the walls of the shaft assayed up to 0.32 ounces per ton over 3 feet (10.98 grams per tonne over 0.9 metres) at a 24-foot depth.                     * 0.24 ounces per ton over 5.0 feet (8.23 grams per tonne over 1.5 metres), and 0.42 ounces per ton over 3.0 feet (14.4 grams per tonne over 0.9 metres) were reported in in hole DDH 3.   * 0.16 ounces per ton over 18. feet (5.5 grams per tonne over 5.53 metres) were reported in hole DDH 2A.   * 0.20 ounces per ton over 6.0 feet (6.85 grams per tonne over 1.85 metres), 0.11 ounces per ton over 4.9 feet (3.77 grams per tonne over 1.49 metres), and 0.10 ounces per tonne over 2 feet (3.43 grams per tonne over 0.61 metres) were reported in in hole DDH 5;   * A trench approximately 150 feet (45.7 metres) east of the shaft known as “Pit 4” reported 0.03 ounces per ton along a 50 foot interval (1.03 grams per tonne over 15.2 metres) presumably taken as a chip sample.                    INFORMATION AVAILABLEPrior to receiving the data from the Peters Family, Sparton only had access to fragmented information, including photocopies of two hand-drawn sketches and parts of a summary report written by a consulting mining engineer in 1936.The newly acquired information includes original photos, maps, drill logs, trench sampling, reports and assay certificate data from work completed by the Peters Syndicate in the 1930s. This work involved trenching, the sinking of a shallow shaft, limited underground crosscutting and completion of several shallow diamond drill core holes. Examples of the data will be posted shortly on the Company website www.spartonresources.com. The data includes original full-size maps that can be used to accurately relocate the old drill holes and trenches near the shaft site prior to beginning the Company drill program now in preparation.There are also detailed chip sample assay data for the shaft itself, as well as for a number of trenches that are now overgrown.  The full -scale maps accurately show the trench locations, and these will now be cleared and re-examined in the field.                   The historical assay information has results reported by both the assay laboratory at the nearby Matachewan Consolidated Mine (which was operating at the time of the work), and Timiskaming Testing Laboratories, in Cobalt, Ontario. This latter facility was operated by the Ontario government.None of this historical information is available in the Ontario Government records.  Sparton now has detailed records showing this information and can accurately locate the drill holes, and trench and sample locations in the field with reference to the shaft location.GOING FORWARDThe recently obtained information is being integrated into the drill program. Drilling is expected to begin by the end of September or the first week of October. Field preparations are currently underway and access trails and drill pads nearly complete.  All of the Project area is accessible from Ontario Highway 566.  Sparton has established a logistics base in the town of Swastika in the Kirkland Lake area to support the work.SUMMARYCompany President, Lee Barker, stated; “Sparton is delighted to have acquired this information and wish to thank the Peters family for making it available to us. Accurately locating all of the past data points in the field is now possible and will be done shortly to support the drilling program and clearing out of the old trenches. We have prepared a new video updating our work which is available on the website or at the YouTube link below.”https://youtu.be/AJ0krYnxnws CAUTIONARY NOTEIt should be noted that historical results reported here and earlier, by the Company are included in the recent data available to Sparton. Now, knowing the laboratories where the analyses were done, the Company continues to believe them to be reliable. More work needs to be done however, to verify or these historical results and information.Further, a qualified person under NI 43-101 has not done sufficient work to verify these historical results with new sampling and analyses.A. Lee. Barker M.A.Sc., P. Eng., is the Qualified Person under NI 43-101 for the technical information in this news release, has reviewed all available data for the project discussed here, and approved the contents of this news release.For more information contact:                                        A. Lee Barker, M.A Sc., P. Eng.,                        , President and CEO                                                                    Tel./Fax: 647-344-7734 or Mobile: 416-716-5762        Email: info@spartonres.ca Website:www.spartonres.ca Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements Information set forth in this news release involves forward-looking statements under applicable securities laws. The forward-looking statements contained herein include, but are not limited to, financings and transactions being pursued, and all such forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although the Company believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct and, accordingly, undue reliance should not be put on such forward-looking statements. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein. We Seek Safe Harbour

  • GlobeNewswire

    Sparton Resources Inc. Oakes Gold Project Update

    Work Permit Received Magnetic Survey CompletedTORONTO, Sept. 08, 2020 (GLOBE NEWSWIRE) -- Sparton Resources Inc. (TSXV.SRI) ("Sparton" or the "Company") announced today that it has received its work permit from the Ontario Ministry of Energy Northern Development and Mines and completed the drone supported magnetic survey over most of the Oakes Gold Project, in Ontario.  WORK PERMIT RECEIVEDEffective September 4th, 2020, Sparton received a work permit for the Oakes Project area.  The permit comprises approvals for core drilling and mechanical stripping in the area of the old shaft, sunk by the Harry Oakes financed syndicate in the early 1930s, as well as general prospecting work.The Company will now begin completion of an access road to the Oakes shaft area using the existing historical track, and accurately locate all of the old 1930s drill sites and trenches. Preparation of drill pads for the planned initial drill program will carried in conjunction with some limited clearing and sampling of existing trenches.AIRBORNE MAGNETIC SURVEYA detailed, drone supported airborne magnetic survey covering most of the Company’s 42 claim package was completed in late August by Fera UAV of Timmins, Ontario. Preliminary data has been received. The quality is excellent and indicates that the Oakes shaft area is located at the intersection of two well defined magnetic linears which likely represent structural features that may control the mineralization seen there. Future prospecting work will focus on exploring the extensions of these structural linears away from the Oakes shaft area site.Four of the claims at the Oakes Leases had been covered by a drone supported aero-magnetic survey completed over the leases in late 2019 using the same geophysical contractor. A distinct magnetic anomaly is associated with the Oakes Zone and extends onto the recently acquired adjacent Claims. Please see map on Company website. The other Claims recently acquired by Sparton cover favourable host rocks such as “syenite porphyry” that host mineralization on the Oakes Leases and also at Alamos Gold Inc.’s nearby Young Davidson Gold Mine. The technical information reviewed to date indicates that limited detailed exploration has been carried out on the Claims.FIRST NATIONS CONSULTATIONThe permitting process involved consultation with the Matachewan Ontario area Affected First Nations (“AFN”). These include the Matachewan First Nation, the Temagami First Nation, the Metis Nation and the Wabun Tribal Council. Support for the proposed work has been received from all groups and consultation will continue as the program moves forward.GOING FORWARDDrilling is expected to begin by the end of September or the first week of October, once field preparations are completed.  All of the Project area is accessible from Ontario Highway 566.  Sparton is establishing a logistics base in the Kirkland Lake area to support the work.SUMMARYCompany President, Lee Barker, stated; “We are pleased to be able to report the receipt of the Exploration Permit allowing the beginning of new work to evaluate this exciting project. The initial results of the magnetic survey are very positive and will be very useful going forward. This type of exploration technology has never been used in the Oakes area and, based on field observations of mineralization seen in the old Oakes shaft area, it is likely that an Induced Polarization (IP) survey will be very useful as well. This will be carried out in the winter of 2021.At Matachewan, historic literature indicates that Sir Harry Oakes supported and held a major interest in the syndicate that explored the original claims covering the current Leases in order to pursue a geological model based upon his discovery of the 8.5 million ounce Lakeshore Gold Mine in nearby Kirkland Lake.  The testing of the model has never been completed but can now be enhanced using modern geological and geophysical techniques. With a detailed exploration program on the Leases and nearby claims controlled by the Company now beginning, we hope to duplicate the success Sir Harry Oakes had at Lakeshore. The Covid-19 work restrictions have delayed the start up of field programs and permitting. These restrictions are being slowly lifted and the Company is ready to begin work immediately, adhering to the proper government regulations and working protocols for health and safety.”A. Lee. Barker M.A.Sc., P. Eng., is the Qualified Person under NI 43-101 for the technical information in this news release, has reviewed all available data for the project discussed here, and approved the contents of this news release.For more information contact:                                        A. Lee Barker, M.A Sc., P. Eng., President and CEO                                                                    Tel./Fax: 647-344-7734 or Mobile: 416-716-5762        Email: info@spartonres.ca Website: www.spartonres.ca Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Forward-Looking Statements Information set forth in this news release involves forward-looking statements under applicable securities laws. The forward-looking statements contained herein include, but are not limited to, financings and transactions being pursued, and all such forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although the Company believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct and, accordingly, undue reliance should not be put on such forward-looking statements. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.We Seek Safe Harbour

  • GlobeNewswire

    Sparton Resources Inc.: VRB Energy Solutions Inc. Announces New and Improved Vanadium Battery, Management Changes, New Beijing Government Grant Funding

    TORONTO, Aug. 25, 2020 (GLOBE NEWSWIRE) -- Sparton Resources Inc. (TSXV.SRI) ("Sparton" or the "Company") is pleased to announce that VRB Energy Solutions Inc. (“VRB”) reported, on August 23, 2020, that it has produced a more efficient 3rd generation vanadium battery and appointed their Chief Technology Officer, Dr. Mianyan Huang, as the new company CEO.Also announced, was the recognition of this new technological advance by the Beijing Government Committee for High and New Technology Development which awarded significant grant funding to VRB Energy for its leadership in energy storage products and technology innovation.Gen3 System UpdateVRB has completed testing of a new cell stack design that will be an integral part of its next generation Gen3 product. The patented innovation yields a 30% improvement in current density and is based on use of VRB Energy’s proprietary in-house membrane and bipole materials, as well as advancements in electrode and cell frame design optimization. These units will have a smaller footprint and achieve up to a 10% increase in overall efficiency with lower costs for VRB customers. Dr. Huang noted that this and many other improvements will enable VRB to deliver a complete energy storage system for less than forecasted lithium-ion battery pricing, and with 15-40% better levelized cost of energy (LCOE) performance.New CEO VRB’s board of directors has named Dr. Huang as its new CEO, effective July 1, 2020.  Dr. Huang, currently serves as President of VRB Energy China and as the VRB Chief Technology Officer, as well as on the board of directors He is recognized globally as a leading expert in vanadium flow battery technology. He has over 20 years of experience in the industry, with 12 key flow battery material and system design patents to his credit. Dr. Huang succeeds John Wang, who is retiring from an active role, but who will remain as an advisor to the company. The VRB Board recognized his achievements in building a strong VRB international presence on top of a rapidly growing energy storage market in China. Sparton wishes him well in his future endeavours.Since joining VRB Energy’s predecessor as technology founder in 2007, Dr. Huang has led a team of scientists and engineers in developing multiple innovations, including a proprietary membrane material that outperforms other commercially available membranes in terms of both cost and efficiency. He has also established outstanding relationships with developers and owners of many large scale energy storage projects in China, and this has established VRB Energy as the leading contender for multiple 100 MW-class projects scheduled under China’s infrastructure investment program, which is being accelerated as part of post-COVID economic stimulus.Sparton is delighted with this progress and once again commends the VRB staff and management for continuing to advance VRB’s Gen3 technology development.  The company looks forward to continued progress under Dr. Huang’s leadership.About VRBVRB Energy is majority-owned by High Power Exploration (HPX), a North American, minerals exploration and technology development company. HPX is a subsidiary of I-Pulse, a global leader in innovative commercial applications for pulsed power technologies to address a broad and growing suite of applications across multiple industrial markets.  I-Pulse is a private company with offices in Toulouse, London, Tokyo and Vancouver.Information regarding the Company’s interest held in VRB is as follows:Sparton’s 89.8% owned subsidiary, VanSpar Mining Inc., registered in the British Virgin Islands, owns 9.8% of VRB which is registered in the Cayman Islands, which in turn owns 100% of VRB Energy Systems, registered in China, which is the vanadium flow battery manufacturer. Full information regarding the history of the VRB investment interest held by Sparton is in its various news releases and available at www.sedar.com in its corporate filings.The full VRB news was posted on August 23, 2020 and is available at www.GlobeNewswire.com and on VRB’s Twitter site “@Think VRB”.For more information contact: A. Lee Barker, M.A Sc., P. Eng., P.Geol. President and CEO Tel./Fax: 647-344-7734 or Mobile: 416-716-5762 Email:  info@spartonres.ca Website: www.spartonres.caJim Stover jim.stover@vrbenergy.com +1 604 648 3900 Charles Ge charlesge@vrbenergy.com  +86 186 7010 7777 Upcoming EventsESA ENERGY STORAGE ANNUAL CONFERENCE & EXPO 2020       AUGUST 24 – 27, 2020 - ONLINE + 9TH ANNUAL ENERGY STORAGE INTERNATIONAL CONFERENCE AND EXPO       AUGUST 26 – 28, 2020 - BEIJING, CHINA   Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Forward-Looking StatementsInformation set forth in this news release involves forward-looking statements under applicable securities laws. The forward-looking statements contained herein include, but are not limited to, financings and transactions being pursued, and all such forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although the Company believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct and, accordingly, undue reliance should not be put on such forward-looking statements. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.We Seek Safe Harbour