Sparton partner Eldorado drills 13.77 g/t gold over 3 metres at Bruell, Quebec

Sparton Resources Inc. [SRI-TSXV; SPNRF-OTC] reported positive early assay results from Eldorado Gold Corp.’s [ELD-TSX; EGO-NYSE] winter drilling program at the Bruell gold project, east of Val d’Or, Quebec. Sparton has a 100% option.

Eldorado has completed 8,430 metres of oriented core drilling in 18 holes in the initial 2023 program at Bruell. The work tested a variety of targets along a four-kilometre gold mineralization corridor extending from the Bruell 1 and 2 shafts to the west, eastward beyond the Avocalon shaft and past the Sparton zone, located by the company’s drilling in 2018, to the new Penguin anomaly, located by Eldorado’s till and soil sampling program in 2020/2021. The Penguin anomaly is about two kilometres east of the Sparton zone.

While core logging is still in progress and most assay data have not yet been received, visible gold was seen in core from drill hole BU-23-14 at the Penguin anomaly and priority analyses completed with the following results:

BU-23-14 (azimuth 003 degrees, dip -50 degrees): 497.2 to 500.2, three metres at 13.77 g/t gold, including 497.2 to 497.7, 0.5 metres at 73.92 g/t gold; 499.7 to 500.2, 0.5 metres at 7.95 g/t gold.

These results are from what appear to be northeast-trending, gently dipping quartz tourmaline veins not previously identified on the property, and Penguin is a new zone not previously identified in historical work at Bruell.

The widths reported above are core lengths and true widths of the zones will be determined by future structural analyses. Follow-up drilling will be determined after Eldorado does a complete review of all results.

Sparton management is very encouraged by these new results at Bruell and appreciative of Eldorado Gold’s systematic evaluation of the Bruell property.

Sparton also announced today that Denise Cummings-Luckie has been appointed to the company board of directors and will stand for election to its board of directors at the company annual general meeting on June 27, 2023.

Ms. Cummings-Luckie is an accomplished lawyer and compliance professional with over 20 years of experience in private practice related to company/commercial/corporate, mining and exploration law, and general securities law. Subject to regulatory approval, Ms. Cummings-Luckie will be awarded incentive options to purchase 300,000 Sparton common shares at a price of five cents per share expiring three years from the effective date of approval.