Drilling is targeting a coincident magnetic, electromagnetic and geochemical anomaly nearby to the historical Penny West gold mine.
() has commenced an aircore drill program targeting an area within the Penny West shear zone within the Youanmi Gold Project in Western Australia.
The aircore drilling program in conjunction with its joint venture partner () is expected to be completed by late August 2019.
The target is north of the historical Penny West gold mine and also the Penny North gold discovery made by () in March 2019.
The discovery by Spectrum has been a major catalyst for the Spectrum share price with it running from 2.5 cents to 12 cents over the past month.
Aircore drilling at this target follows recent stage two drilling at the Currans Find North prospect, also within the Youanmi Gold Project.
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