SPX ..... Oversold territory.... Should run a few pips according to my charts... Phase II RC drilling program to start within days SPX is currently making the final preparations for the Phase II drilling program at the Penny West project. It is planned that the RC drill rig will commence drilling on site by this coming weekend and will target a number of new areas in addition to extensions to mineralisation discovered in Phase I. Extensional drilling will be conducted: 1. Underneath the Penny West pit to follow up on the intersection in hole SPWRC006 of 5m at 28.9g/t gold from 203m (See ASX announcement dated 2 April, 2019) 2. Continue with the designed holes under the northern half of the Penny West pit that were deferred in favour of expanding the drilling at Penny North during Phase I. 3. Continue to seek extensions to the Penny North mineralisation up dip, down dip and to the north into the ‘gap zone’. New zones to be tested include: 1) An area south of the Penny West pit at depth below previously drilled narrow intersections. 2) Down dip and along strike at Magenta where Phase I confirmed the continuation and extension of high-grade gold mineralisation in a coherent structure below previous drilling.
