Spartan Resources

Deep Drilling Hits Visible Gold Over 1km Deep Below Never Never Gold Deposit

20m of typical Never Never mineralisation including trace visible gold 400m below 952koz Resource; Plus, Sly Fox assays double mineralisation footprint

Spartan Resources Limited (ASX: SPR) (Spartan or the Company) is pleased to report updated drilling and assay information from recent drilling at its 100%-owned Dalgaranga Gold Project (“DGP”) in the Murchison region of Western Australia.


Highlights:

Never Never Gold Deposit

  • 20+ metres of “typical Never Never-style” mineralisation intersected from 1,034m down- hole, including trace visible gold noted at 1,046m and 1,050m (DGDH064) – assays pending:
    • Intercept located ~400m down-plunge from the current 0.95Moz Never Never Mineral Resource Estimate (“MRE”).
  • 12.54m @ 14.32g/t gold from 570.91m, including 2.52m @ 67.49g/t (DGRC1430-DT):
    • Intercept located within the Inferred Resource classification extent of the current 0.95Moz MRE – targeting conversion of Inferred to Indicated.
  • 13.75m @ 10.08g/t gold from 667.00m, including 3.00m @ 38.10g/t (DGRC1429-DT):
    • Intercept located at the base of the Inferred Resource classification extent of the current 0.95Moz MRE – targeting conversion of Inferred to Indicated.
  • 12.80m @ 8.13g/t gold from 603.00m, including 1.00m @ 96.47g/t (DGDH055)
    • Intercept located at the base of the Inferred Resource classification extent of the current 0.95Moz MRE – targeting conversion of Inferred to Indicated.

Sly Fox Gold Deposit

  • 23.60m @ 2.45g/t gold from 457.40m, including 7.00m @ 4.07g/t (DGRC1408-DT):
    • Intercept located ~90m west and along-strike of the existing Sly Fox MRE.
  • 24.00m @ 1.58g/t gold from 250.00m, including 7.00m @ 3.24g/t (DGRC1436)
    • Intercept located ~60m to the west along-strike and ~50m down-plunge of the existing MRE.

Please Note: Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. Assays for DGDH064 are expected in April 2024, following detailed structural, lithological and geotechnical data collection.

The assays in this release include significant intercepts from exploration and resource extension drilling at the high-grade Never Never Gold Deposit, West Winds Gold Prospect and the Sly Fox Gold Deposit.

Figure 1: Long Section of Never Never Gold Deposit, Four Pillars and West Winds Gold Prospects looking East. DGDH064 intercept location 400m below current 952koz MRE shown in yellow as well as recent assay results shown in gold.

Please Note: Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. Assays for DGDH064 are expected in April 2024, following detailed structural, lithological and geotechnical data collection.


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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