About Sparton Resources Inc.
Sparton Resources Inc. ( TSXV.SRI) is a Canadian based, publicly traded, mature junior mineral exploration company that has been active for over 40 years. It is managed by a small team of veteran mining professionals with over 125 years of combined experience. Over the last 18 years it has generated and developed successful projects for precious and specialty metals in Asia, the United States and Canada. Its core asset is a minority interest (9.8%) in a clean tech, vanadium flow battery producer VRB Energy Inc. The majority shareholder in VRB Energy is Ivanhoe Electric Inc. part of the Robert Friedland managed Ivanhoe Group of companies. VRB Energy is the worlds leader in integrating long life, grid scale storage batteries with wind or solar sources of electricity. These batteries are safer (cannot catch fire), longer lasting (nothing is chemically consumed) and are cost competitive with lithium units. They are fully recyclable. They have been built and installed in multi megawatt sizes and are certified for extreme cold operations (-40deg.C). Sparton expects to gain substantial benefit from its VRB Energy share holdings when VRB Energy becomes a public entity.
On the minerals front Sparton has concentrated its efforts on locating under explored gold properties near producing mines. The Bruell project in Quebec is currently under option to Eldorado Gold Corp. which operates the Lamaque/Sigma gold mine complex east of Val D’Or, Quebec and controls a large property package (including Bruell) east of the Lamaque operations. There are three 1930’s era shafts on the Bruell claims and numerous gold showings. Sparton discovered an exciting new gold zone at Bruell and Eldorado is currently part way through a 5000-meter drill program there. If Eldorado exercises its option later this year Sparton will receive a substantial cash payment and hold a production royalty on the property.
Sparton has also acquired a large claim package north of Alamos Gold Inc’s. 200,000 ounce per year Young Davidson Mine near Matachewan Ontario in the western part of the prolific Kirkland Lake Gold Belt. The property was explored with a small shaft in the 1930s by the Sir Harry Oakes interests. The property consists of 3 mining leases which had seen almost no work in 25 years and 41 mining claims. Oakes was the discoverer of the +10 million ounce Lakeshore Mine in Kirkland Lake and supported exploration in many other areas. Sparton did a modest drilling program in one area near the old shaft with some positive but mixed results. It has recently completed detailed induced polarization and magnetic surveys and identified at least 4 new targets on the claim group that have never been evaluated in the past. These will be tested by trenching and possibly drilling later in 2022.
Sparton also owns 100% of a subsidiary core drilling company “Edcor Drilling Services” that that does contract diamond core drilling work for third party clients and provides sustaining cash flow for its parent. Sparton continues to seek out and identify new mineral opportunities, especially those in active mining areas with producing mines, and works to enhance the value of its existing projects.
For more information please see the Sparton Website www.spartonresources.com or contact:
216-81A Front Street East
Toronto, Ontario, Canada, M5E1Z7
+1-416 -716-5762 Mobile anytime
For more about the activity in Kirkland Lake and to view the digital map, go to https://digigeodata.com/area/kirkland-lake/