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Latest Information March 31, 2003 Drilling was planned to commence to test several base metal and gold targets generated this winter during a technical review of the companies’ ‘Hemlo Area Joint Venture’ (‘HAJV’) claim holdings.  March 24, 2003 Sparton Resources and Beaufield Consolidated Resources will begin drilling this week to test several base metal and gold targets generated this winter at their Hemlo Area JV properties. At least 1000 m is planned to test targets on four separate claim groups. Linecutting and magnetic and VLF-EM surveys have now been completed over the target areas and several discrete anomalies have been identified. The JV has recently acquired three new claim groups (JB-1, JB-2, and Little Black River) from Hemlo area prospectors. February 3, 2003 Sparton Resources and Beaufield Consolidated Resources have each acquired a 50% interest in a claim group known as the QUED property, located on the north limb of the Hemlo gold area of northern Ontario. The claims were previously 60% owned by Newmont and Placer Dome. The QUED group, comprising 24 claim units, hosts the extension of a mineralized zone called the South QUED Porphyry that extends northwest from the Fowler claim group acquired by the partners from Newmont in November 2002. Trenches on the QUED property have returned gold assays of up to 8.85 g/t in folded iron formation. |
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