Sparton Resources Inc. has filed an independent technical report on the Morrison Mine Project in Ontario, while Glen Eagle Resources holds an option to earn up to a 70% interest in the property.
Sparton Resources Inc. (TSXV:SRI) has filed an independent N-I 43-101 Technical Report on its Morrison Mine Project with SEDAR+ and on the company’s website. The report, prepared for Sparton by Qualified Person Paul Chamois, M.Sc. (A), P. Geo., is dated Oct. 06, 2026.
Sparton previously secured an option to acquire 100% of the past-producing Morrison Silver Mine property near Gowganda, Ontario. Under a definitive Option and Joint Venture Agreement announced on September 1, 2026, Glen Eagle Resources Inc. (TSXV:GER) has an exclusive option to earn up to a 70% interest in the property over a three-year option period.
The earn-in requires Glen Eagle to make specified cash payments and provide share-cost compensation through the funding of exploration expenditures. If the earn-in is completed and the applicable conditions are satisfied or waived, the parties would form a joint venture with initial participating interests of 70% Glen Eagle and 30% Sparton.
Sparton says it remains operator during the option period, while Glen Eagle can earn its interest by funding an exploration drilling programme. The grant and exercise of both options are subject to applicable TSX Venture Exchange requirements and the terms of the Agreement. The options are described as arm’s length transactions, with no finder's fee arrangements.
Sparton also corrected its July 18 News Release to state that aggregate work programme expenditures over the three-year option period should read as $650,000.
Sparton describes Morrison as a past-producing native silver mine that recorded more than 750,000 ounces of production at a reported grade of roughly 25 ounces per short ton during intermittent operations between 1912 and 1954. The ore was milled at the nearby Siscoe Metals Mill, and Sparton says there are no tailings on the property.
The four-claim property includes a capped production shaft extending to approximately 600 feet below surface. Historical records identify eight sub-parallel, near-vertical veins that were partially mined, as well as additional silver-bearing areas encountered during underground exploration drilling.
The company says the extensions of those vein systems into unmined areas have not been fully tested using modern diamond drilling. The Morrison property is in the historic Gowganda silver camp of northeastern Ontario, which is reported to have produced over 60 Million ounces of silver.
Historical production, grade, mine-development and mineral-occurrence information is based on historical records and published sources. Sparton says a Qualified Person has not completed sufficient work to independently verify all of that information through new exploration, and the company does not treat it as a current mineral resource or mineral reserve.
The Ontario Ministry of Mines has issued an exploration permit covering up to 12 holes comprising a total of approximately 1200 meters on the Morrison property. Sparton and Glen Eagle are coordinating the initial exploration programme.
Independent Qualified Person Paul Chamois recommended a Phase 1 programme comprising a LIDAR survey, line cutting and 1,000m of diamond drilling, with an estimated budget of $213,000. The stated focus is on unmined areas representing extensions of mined sections of the vein systems, including pillars.
Sparton Resources describes itself as a mineral exploration company with critical-mineral and gold projects in Ontario and Quebec. It also holds a strategic investment in a vanadium redox flow battery manufacturer.
Sparton filed an independent N-I 43-101 Technical Report on the Morrison Mine Project on SEDAR+ and its website.
Glen Eagle Resources has an option to earn up to a 70% interest over a three-year option period, subject to the Agreement and applicable TSX Venture Exchange requirements.
A successful earn-in and satisfaction or waiver of applicable conditions would result in initial participating interests of 70% Glen Eagle and 30% Sparton.
An exploration permit covers up to 12 holes and approximately 1200 meters, while the recommended Phase 1 programme includes 1,000m of diamond drilling and an estimated budget of $213,000.
Sparton says historical information about Morrison has not been fully independently verified and is not treated as a current mineral resource or mineral reserve.
Sparton Resources Inc. announced that an independent N-I 43-101 Technical Report on the Morrison Mine Project had been filed on SEDAR+ and on the Company's website. The report was prepared for Sparton Resources Inc. by independent Qualified Person Paul Chamois, M.Sc. (A), P. Geo., and dated Oct. 06, 2026.
Sparton Resources Inc. announced the filing on November 2, 2026. The announcement covers the independent technical report on the Morrison Mine Project and also provides background on the property's option and joint venture arrangements.
Sparton Resources Inc. is identified in the announcement as listed on the TSX Venture Exchange under the ticker TSXV:SRI. Glen Eagle Resources Inc., the company's joint venture counterparty, is identified as TSXV:GER.
Under the definitive Option and Joint Venture Agreement announced on September 1, 2026, Glen Eagle Resources Inc. has been granted the exclusive option to earn up to a 70% interest in the Morrison Property over a three-year option period. The earn-in requires specified cash payments and share-cost compensation through the funding of exploration expenditures.
Following a successful earn-in and satisfaction or waiver of the applicable earn-in conditions, the parties would form a joint venture with initial participating interests of 70% Glen Eagle and 30% Sparton. The grant and exercise of both options remain subject to applicable TSX Venture Exchange requirements and the terms of the Agreement.
Sparton Resources Inc. corrected the aggregate work programme expenditure for the three-year option period to $650,000. The correction relates to the July 18 News Release.
Sparton Resources Inc. describes Morrison as a past-producing native silver mine with a documented history of more than 750,000 ounces of production at a reported grade of roughly 25 ounces per short ton during intermittent operations between 1912 and 1954. The historical information is based on historical records and published sources, and the company says a Qualified Person has not completed sufficient work to independently verify all of it through new exploration.
Sparton Resources Inc. says the four-claim property contains a capped production shaft extending to approximately 600 feet below surface and that historical information identified eight sub-parallel, near-vertical veins that were partially mined. The company says extensions of the eight vein systems into unmined areas have never fully been tested with modern diamond drilling techniques.
The Ontario Ministry of Mines has issued an exploration permit for up to 12 holes comprising a total of approximately 1200 meters on the Morrison Property. Sparton and Glen Eagle are coordinating the initial Morrison exploration programme.
Independent Qualified Person Paul Chamois has recommended a Phase 1 programme consisting of a LIDAR survey, line cutting and 1,000m of diamond drilling, at an estimated budget of $213,000. The stated focus is testing unmined areas representing extensions of mined portions of the various veins, including pillars.
Sparton Resources Inc. says it will remain operator during the option period while Glen Eagle can earn its interest by funding an exploration drilling programme. Sparton also says it would retain a 30% interest following a successful earn-in, subject to the applicable conditions.
No. Sparton Resources Inc. states that it does not treat the historical information as a current mineral resource or mineral reserve, and says the historical production, grade, mine-development and mineral-occurrence information has not been fully independently verified through new exploration.
Sparton Resources Inc. describes itself as a mineral exploration company with critical-mineral and gold projects in Ontario and Quebec. The company also holds a strategic investment in a leading vanadium redox flow battery manufacturer.