Sparton options Timmins claims

Exploration, including diamond drilling, is planned by Sparton Resources (SPTN-C) for a newly acquired claim group near Timmins, Ont.

To acquire a 100% interest in the claims, Sparton must make staged payments, issue 200,000 shares and spend $400,000 on exploration by the end of 1997.

Sparton says the property has received minimal exploration. In the 1980s, several holes were drilled on the western portion, one of which returned 0.29 oz. gold per ton over 22 ft., while another returned 0.13 oz. gold over an approximate core length of 49 ft. These intersections were within 120 ft. of surface.