Spartan Resources

$80 Million Equity Raise Investor Presentation - April 2024

Spartan Resources Limited (Spartan or Company) (ASX:SPR) is pleased to present its investor presentation.

Investment Highlights

Rapid Resource Growth & Step-Out Exploration Success

  • Growth of Never Never Mineral Resource to 953koz @ 5.7g/t1 – drill campaign funded for 2024/2025 and updated Mineral Resource Estimate expected to be released in mid-2024
  • Never Never Exploration Target of 8.1 – 9.9 million tonnes at a grade of between 5.8 – 6.7g/t for 1.6 – 1.9Moz (inclusive of December 2023 MRE)2
  • Multiple high-grade, wide intercepts in the past 18 months, including 59.0m @ 12.5g/t, 12.6m @ 34.5g/t and 54.0m @ 6.55g/t3
  • One of the highest-grade deposits and most exciting recent discoveries in Australia

High-Impact Regional Targets

  • Exploration success at Pepper including 17.5m @ 15.9g/t4 validates Spartan’s exploration thesis at the Dalgaranga Gold Project (Dalgaranga)
  • Pepper sits parallel to Never Never and displays the same Never Never style mineralisation characteristics
  • Multiple additional high-grade targets extending from the Gilbey’s Pit, including Four Pillars, West Winds and Sly Fox – lookalike mineralisation to Never Never
  • Positive intercepts from recent drilling, including 17.5m @ 15.9g/t4 (Pepper), 20m @ 3.49g/t4 (West Winds) and 15m @ 6.06g/t4 (Four Pillars)

Infrastructure & Proximity

  • < 6-year-old processing plant located less than 2.5km from Never Never and Gilbey’s deposits
  • Installed infrastructure substantially reduces timeline and expenditure to restart operations
  • Spartan currently investigating multiple strategies on potential development approach, including optimizing mill throughput to match sustainable mining schedules

Well Positioned to Execute Strategy

  • Strong balance sheet strength with pro-forma cash of $110m5 and nil-debt on completion of the Offer
  • Focused team with proven experience in exploration and resource development
  • Spartan focused on exploration with proposed underground exploration decline to take Spartan within 50 to 100 metres of the Never Never orebody
  • Importantly, this investment in the underground exploration decline will offset any future restart capex and reduce lead time to production


Click here for the full ASX Release

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.

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