Sparton Receives Final Payment for Sale of Luxi Gold Project

Sparton Resources Inc. (TSX VENTURE:SRI) reported that it has received the final payment for the sale of a 39% interest in Yunnan Sparton Minerals Company Limited, the Sino-foreign joint venture company which owns the Luxi Gold Project in Yunnan Province, southwest China.

The press release is quoted as saying:

The primary focus in China is to improve cash-flow at the producing Huajun germanium operations, and complete the evaluation of the Guojiaping Exploration Licence which contains a large, shale hosted vanadium deposit with associated uranium mineralization. At Lincang, the secondary uranium recovery program will advance through finishing a bulk sample test and completion of a final feasibility study.

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