Sparton options Sierra Rosario

Sparton Resources (SRI-V) can earn a 51% interest in the Sierra Rosario gold-silver project in Mexico’s Sinaloa state.

The company can do so by paying $130,000 to International Northair Mines (inm-v), issuing 275,000 of its shares, and spending $800,000 on exploration over four years.

The property covers at least six gold and silver occurrences discovered by Northair.

One of the targets contains gold-silver mineralization in a rhyolite porphyry and has been traced on surface for more than 150 metres along strike, and is still open in both directions.

Sparton intends to carry out geological mapping and sampling in May, followed by trenching and drilling if warranted.