Spartan Resources

Development Contract for Underground Exploration Drill Drive Awarded to Barminco

New drill drive to provide underground drill platforms to in-fill and extend existing deposits and identify new high-grade shoots

Spartan Resources Limited (“Spartan” or “Company”) (ASX: SPR) is pleased to announce that it has awarded the contract for the development of an underground exploration drill drive at its 100%-owned Dalgaranga Gold Project (“DGP”), located in the Murchison region of Western Australia, to specialist underground mining services contractor, Barminco Limited, a wholly owned subsidiary of the ASX-listed global diversified mining services company Perenti Limited (ASX: PRN).


Highlights:

  • Development contract for the underground exploration drill drive at the Dalgaranga Gold Project awarded to Barminco Limited.
  • The contract, which is valued at ~$18.3 million, provides for 2,350m of development to deliver twin decline access for the establishment of underground drilling platforms to in- fill and extend mineralisation within the Never Never, Pepper, Four Pillars and West Winds areas.
  • The drill drive has also been designed to support future mine production activities.
  • All regulatory mining approvals are now in place and all major support services have been engaged to facilitate the commencement of construction in the current quarter.
  • Surface exploration drilling at Dalgaranga will shortly re-commence, with rigs arriving on site later this month.

Figure 1: Long Section of the Never Never Gold Deposit and the Pepper, Four Pillars and West Winds Gold Prospects looking east. Proposed exploration drill drive design in black.

The contract, which is valued at ~$18.3 million including an allowance for fuel and contingencies, provides for 2,350m of development to deliver twin decline access for the establishment of underground drilling platforms to in-fill and extend mineralisation across the Never Never, Pepper, Four Pillars and West Winds deposits.

All of these steeply-plunging, high-grade gold zones are located along a single 800m-long, semi- continuously mineralised north-south stratigraphic horizon (see Figure 1). The exploration drill drive has been designed to run parallel and adjacent to this horizon to provide underground drill platforms to more effectively define these existing deposits and prospects, as well as explore for further high-grade shoots and provide critical underground infrastructure as Spartan develops its future mine plan.

Construction of the drill drive is on-track to commence in the September Quarter, with all regulatory mining approvals and support services in place. In addition, the Company has established an experienced on- site project team to manage and oversee the development and construction process. Establishment of the drill drive, and an initial underground drilling programme, is fully funded from the Company’s existing cash reserves.

Management Comment

Spartan Managing Director and Chief Executive Officer, Simon Lawson, said: “We are delighted to have Barminco on board to complete the construction of this new drill drive, which represents a very exciting initiative that will enable us to drill from platforms located right alongside our high-grade deposits and targets. This will provide for cheaper, more accurate and quicker drilling to continue to accelerate our Resource growth and conversion to Ore Reserves.

“All of the high-grade deposits and prospects discovered at Dalgaranga over the past two years remain open at depth – with mineralisation at the Never Never deposit now defined to beyond 1km below surface – and we’re very excited to get the underground rigs in place to help determine just how deep this high- grade mineralisation extends.

“Importantly, the drill drive is being constructed using the same dimensions as a standard underground mine development, ensuring it can be incorporated into our infrastructure planning for the future re- commencement of mining operations.

“Construction of the drill drive is set to kick-off later this Quarter and is expected to take approximately 10 months to complete. In addition, we will also shortly re-commence surface drilling programs, targeting the Pepper, Four Pillars, West Winds and other near-surface anomalies, ensuring plenty of exciting news- flow for shareholders in the months ahead.”


Click here for the full ASX Release

This article includes content from Spartan Resources, 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
The Conversation (0)
Walker Lane Resources Ltd. Notes Unusual Trading Activity and the Development of its New Website

Walker Lane Resources Ltd. Notes Unusual Trading Activity and the Development of its New Website

Walker Lane Resources Ltd. (TSX-V: WLR, "Walker Lane") announces that there has been unusual trading activity of its common shares that appeared to initiate on March 27, 2025 and appears to have occurred on each subsequent TSX-V trading day to current day. The recent stock trading activity does not reflect the health of our business or the recent significant value added assets to the property portfolio and adds to the previous undervaluation of the assets that were noted in a research report completed by Fundamental Research Corporation (see CMC Metals Ltd. press release - January 15, 2025). Management considers that some recent market transactions of its common shares could be an organized type of short selling tactic as we cannot determine any other explanation for the unusual downside trading activity.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
New Age Exploration Limited

Drilling Commences at Lammerlaw Gold and Antimony Project, NZ

New Age Exploration (ASX: NAE) (NAE or the Company) is pleased to announce the commencement of drilling at its Lammerlaw Project in New Zealand. The drill program is Phase 1 of a two-phase program to test nine high-priority targets identified through extensive geochemical surveys, geological mapping, and geophysical data interpretation.

Keep reading...Show less
Byron King, gold bars.

Byron King: Fear Trade in Play — Make Sure You've Got Gold, Silver

Byron King, editor at Paradigm Press, shares his thoughts on a wide array of hot topics, including gold's historic price rise, inflation and the ongoing tariff situation

In his view, it's more important than ever for investors to have hard assets in their portfolio.

Keep reading...Show less
Gold bars on financial charts and a notebook.

Top 5 ASX Gold Stocks of 2025

Gold has continued to perform exceptionally well in 2025 and even broke through the AU$5,000 per ounce mark for the first time on April 1, when it reached a new all-time high of AU$5,034.

Markets have experienced significant volatility since the start of US President Donald Trump’s term. Tariff threats have created unease among US allies attempting to avoid a full-scale trade war with the world’s largest economy.

The rising gold price also coincides with increasing tensions in the Middle East, where attacks against Iran-backed Houthis in Yemen have intensified. These and other circumstances have prompted investors to seek the safe haven of gold, leading the yellow metal to repeatedly hit new record-high prices throughout the year.

Keep reading...Show less
Rio Silver

Rio Silver


Keep reading...Show less

Latest Press Releases

Related News

×