Date: Mar 27, 2018
Sparton Resources Inc. (TSX-V:) (“Sparton” or the “Company“) is pleased to announce that a work program has been approved for the advanced evaluation of the vanadium mineralization in the 16 square km. Yao Wan (“YW”) Polymetallic Exploration License, in the Zhen’an area of Shaanxi Province, China. See Sparton News Release dated January 2, 2018.
Yao Wan Vanadium Project
The Vanadium mineralization is strata bound and similar to other “stone coal” carbonaceous shale type vanadium deposits in China. These deposits are generally of higher grade and lower in impurities than other types of vanadium deposits such as those associated with magnetite iron ores.
Past work programs by Warwick Mining Development Company Ltd. (“WMD”), included surface and underground core drilling, surface trenching, and tunneling.
The license contains a, Chinese Category 332 and 333 vanadium pentoxide (V2O5) mineral inventory (see Cautionary Statement below) which may be considered under NI 43-101 as “Historical Estimates”. Six vanadium zones have been identified along an 11kilometer strike length within a 9 square kilometer section of the YW License.
“Historical Estimates”
A total of 37,280,900 tonnes of vanadium mineralization in Chinese categories 332 and 333, grading an average of 0.85% V2O5 has been calculated for the six vanadium zones at YW. This equates to 316,096 tonnes of contained V2O5.
