Spectrum Metals Limited announced the receival of the remaining assays from Spectrum's maiden drilling program at the 100% owned Penny West gold project near Youanmi, WA. Results received from three holes at Magenta include: SPWRC009 ­ 1m at 11.5 g/t gold from 86m, within 3m at 5.0 g/t gold from 86m. SPWRC010 ­ 1m at 7.9 g/t gold from 58m. Results received from three remaining holes at Penny North include: SPWRC032 ­ 2m at 12.9 g/t gold from 186m and 1m at 11.9 g/t gold from 196m. SPWRC033 ­ 3m at 1.8 g/t gold from 171m. The above results open up another area of focus for Spectrum at Magenta and also shows that high grade gold mineralisation exists at either end of a 1.4km long `gap zone' that has no RC drilling whatsoever. Drilling at Magenta has confirmed that the high-grade structure remains open in all directions and has now extended the strike length of this new zone to over 100m. Results from the remaining RC holes from Penny North have extended the high grade to the north by a further 40m. Results to the southern end of Penny North shows that the structure continues. Phase II of Spectrum's RC drilling program (initially 10,000m) will start at the end of this week to target areas underneath and south of the Penny West pit, extensions to the Penny North discovery and beneath the high grade mineralisation at Magenta and Columbia. The three (3) reverse circulation drill holes at Magenta were aimed at confirming the presence of gold mineralisation down dip of previously identified but shallow mineralisation. All three holes at intersecting gold mineralisation which is now open in all directions. Holes SPWRC009 and SPWRC010, intersecting 1m at 11.5 g/t gold within 3m at 5.03 g/t gold from 86m and 1m at 7.94g/t gold from 58m respectively, are very significant when viewed in the light of the company's recent Penny North discovery. The thick, high grade intercepts at Penny North were discovered by following up an isolated up-dip intersection of 1m at 6.47g/t gold.