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Spartan Resources Limited (“Spartan” or “Company”) (ASX: SPR) is pleased to advise that a major new 25,000m multi-rig drilling campaign has commenced at its 100%-owned Dalgaranga Gold Project in Western Australia targeting further rapid growth in the high-grade resource inventory.
Highlights:
- New 25,000m surface drilling campaign underway targeting rapid growth of high-grade gold resources on the granted Mining Lease <2km of the 2.5Mtpa Dalgaranga Process Plant.
- Four rigs operating – three diamond drill rigs (“DDR”) and one Reverse Circulation (RC) drill rig. Drilling to strengthen case for multiple underground mining scenarios and enhance existing open-pit optimisations, including potential Gilbey’s cut-back options.
- Focus on extensions to the high-grade Never Never Gold Deposit at depth, as well as targeting maiden resource potential of the Never Never “look-alikes” – the Four Pillars and West Winds gold prospects, located along strike to the south.
- More high-grade assays received from recent drilling at the Never Never Gold Deposit:
- 33.10m @ 8.15g/t gold from 169.40m including 8.56m @ 19.54g/t (DGDH036) – first hole in the new program, targeting base of conceptual open pit
- 14.00m @ 6.20g/t gold from 241.00m including 2.40m @ 32.14g/t; and also,
- 18.42m @ 3.63g/t gold from 293.00m including 1.42m @ 16.27g/t (DGRC1205-DT) – final in-fill hole from the previous campaign, not included in July 2023 MRE update.
- Initial assays received for drilling targeting the shallow Arc gold prospect:
- 10.00m @ 2.75g/t gold from 79.00m, 5.00m @ 2.79g/t from 139.00m and 3.00m @ 3.67g/t from 153.00m (DGRC1237)
- Re-interrogation/re-logging of drilling completed in late 2022 during the care and maintenance period at Dalgaranga has highlighted significant high-grade potential at these prospects:
- 15.00m @ 11.64g/t gold from 224.00m (DGRC1161) – West Winds
- 8.00m @ 16.22g/t gold from 256.00m (DGRC1162) – West Winds
- 60.00m @ 2.35g/t gold from 141.00m (DGRC1173) – Four Pillars
- 32.00m @ 4.13g/t gold from 40.00m (DGRC1154) – Four Pillars
- Updated global Mineral Resource and Ore Reserve statement for Dalgaranga scheduled for December Quarter 2023, incorporating an updated MRE for Never Never and an updated MRE for the Gilbey’s Complex incorporating current drilling.
The new drilling program will target extensions and a further upgrade in the high-grade 721,200oz Mineral Resource Estimate (MRE) for the Never Never Gold Deposit, while also aggressively drilling out “near- mine” targets and the nearby Arc gold prospect.
In addition, investigative work by the Spartan geology team, in conjunction with external structural geology consultants, has confirmed two high-priority drill targets, the Four Pillars and West Winds gold prospects, located approximately 500 metres to the south of Never Never directly beneath the Gilbey’s open pit. A number of additional as yet unnamed medium-priority drill targets have also been defined, all less than 2km from the 2.5Mtpa Dalgaranga Processing Plant.
Included in this release are results for two drill-holes completed adjacent to the Gilbey’s Pit in late 2022 but due to the suspension of mining and processing operations at the time were given low priority. As an underground mining scenario is now likely for nearby Never Never, re-evaluation of the assays for these “historic” drill-holes (DGRC1161 and DGRC1162) has been conducted and they are now presented as more meaningful intercepts.
Never Never Gold Deposit Update
Figure 1: Long section of Never Never Gold Deposit with location of recent drill assays and current targeted in-fill and extensional drilling in relation to the classified block model grade (underlay).
This release also includes initial assay results from the first hole of the new drill campaign at Never Never (DGDH036) and from the final in-fill hole of the previous campaign (DGRC1205-DT), which was not included in the July 2023 MRE update for the Never Never Gold Deposit.
The Never Never Gold Deposit is just one example of late-stage east-west-striking local/regional scale structures (faults, shears, failed folds) intersecting with older north-south-striking regional rocks (greenstones, typically gabbro/basalts and volcanic sediments “volcaniclastics”) at Dalgaranga.
Building on the spectacular discovery efforts at Dalgaranga – in particular visual observations of “Never Never-style” mineralisation in Never Never drill core – comparative investigative work by the Spartan geology team outlined evidence for a number of nearby high-grade gold structures with the same characteristics within the footprint of the very nearby Gilbey’s gold deposit. Follow-up drilling of these new targets is underway.
Given the Company’s previous focus on the “low-grade” Gilbey’s gold deposit complex, a large amount of resource drilling data was generated for this deposit.
This information has been used to focus and generate a number of high-grade near-mine targets within the “Gilbey’s Complex” and within 2km of the processing plant. The highest priority targets are detailed in the following section of the announcement.
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This article includes content from Spartan Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
SPR:AU
High grade Massive Sulphide Intercepts Confirmed at Oval
HIGHLIGHTS:
- OVD027 confirms the continution of high grade massive sulphide from OVD0211 with an intercept of 6.1 metres of 4.16% Cu, 3.51% Ni, 0.G3g/t E3, and 0.13% Co from G8.2 metres encountered between broader high grade zones of:
- A dense disseminated intercept - 26.2 metres of 0.44% Cu, 0.52% Ni, 0.12g/t E3, and 0.03% Co from 72.0 metres and
- A net textured intercept - 15.3 metres of 1.15% Cu, 0.79% Ni, 0.35g/t E3, and 0.04% Co from 104.3 metres;
- A high grade broad intersection is confirmed at the central part of the Oval area by OVD026. It includes a massive sulphide intercept in hole OVD026 of 1.8 metres of 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co from 105.0 metres within broader mineralisation of:
- 19.8 metres of 1.23% Cu, 0.98% Ni, 0.36g/t E3, and 0.05% Co from 91.2 metres.
OVD026 is located 100 metres northwest of the previously announced 8.8 metres of massive sulphide identified in drillhole OVD021.
On completion of the Phase 2 exploration work and receipt of all assays, Managing Director Gan-Ochir Zunduisuren, commented:“The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area, given Oval is a greenfields discovery.
The 2025 exploration program will focus on obtaining information on the size/metal content potential of the Oval Cu-Ni-PGE mineral system as well as targeting the possible deeper magmatic sources at Oval. Broader exploration is also planned at potential extensions of Oval and nearby look-a-like prospects. We look forward to updating shareholders on progress, with drilling expected to commence in around 8 weeks”.
Summary of Phase 2 exploration drilling at Oval Cu-Ni-PGE project
The Company’s recent drilling work has predominantly focused on finding high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. The multiple intercepts of massive sulphide mineralisation with different ratios of metal contents throughout the Oval gabbroic intrusion is highly encouraging for the presence of one or more deeper sources of high grade mineralisation in the opinion of ABM.
Figure 1. Plan view of drillhole locations on high resolution magnetics map (RTP)
Drillhole OVD02c
Drillhole OVD026 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD007_L2_B (reinterpretation of OVD007_L2_A2 by Southern Geoscience Consultants), which exhibits a conductance of 1,000 siemens. The drilling intersected a total of 1G.8 metres of mineralisation with 1.23% Cu, 0.G8% Ni, 0.36g/t E3, and 0.05% Co from G1.2 metres including;
- 4.8 metres of @ 0.45% Cu, 0.43% of Ni, 0.14g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 91.2 metres,
- 6.6 metres of @ 1.56% Cu, 0.G0% Ni, 0.50g/t E3, and 0.04% Co of net textured mineralisation from G6.0 metres,
- 2.4 metres of @ 1.52% Cu, 1.3G% Ni, 0.43g/t E3, and 0.07% Co of semi massive sulphide mineralisation from 102.6 metres,
- 1.8 metres of @ 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co of massive sulphide mineralisation from 105.0 metres, and
- 4.2 metres of @ 0.57% Cu, 0.45% of Ni, 0.21g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 106.9 metres (Table 1 provides a detailed breakdown of mineralisation intervals).
OVD026 is located in the Oval area, which is approximately 100 metres northwest of the previous intersection identified in drillhole OVD0213. This intercept may represent an extension of the known massive sulphide mineralisation in the Oval area and highlights the potential for further expansion of massive sulphide zones within the broader prospect area (Figures 1 and 3).
Click here for the full ASX Release
This article includes content from Asian Battery Metals PLC, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
