Spartan Resources

Exceptional Intercept Extends Never Never to ~1km Deep: 11.55m @ 36.77g/t Au

Multiple double-digit widths at double-digit grades including one of the best- ever Never Never assays from the deepest intercept to date

Spartan Resources Limited (“Spartan” or “Company”) (ASX: SPR) 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:

  • 11.55m @ 36.77g/t gold (424.7 g x m) from 875.0m, incl. 4.0m @ 101.07g/t (DGDH052)
    • Top-3 all-time Never Never gram x metre intercept located 170m below the current MRE and the deepest Never Never intercept to date.
  • 13.00m @ 25.82g/t gold (335.7g x m) from 624.0m, incl. 4.0m @ 51.53g/t (DGRC1391-DT)
    • Top 5 all-time Never Never gram x metre intercept in-fills and strengthens lowest extent of the current 0.95Moz Never Never Mineral Resource Estimate.
  • 11.04m @ 11.69g/t gold (129.1g x m) from 567.0m, incl. 2.83m @ 42.24g/t (DGDH051)
    • Intercept in-fills and strengthens the central area of the Inferred Resource.

Figure 1: Long Section of Never Never Gold Deposit, Four Pillars and West Winds Gold Prospects looking east. Note location of cross-sections A-A’ and B-B’ (see Figure 3 and 4 respectively). Recent assay results shown in gold.

The assays in this release includes significant intercepts from resource in-fill and exploration drilling at the high-grade Never Never Gold Deposit, as well as a highly significant assay result that has extended the known mineralisation to nearly 1km below surface – highlighting the growing strategic significance of this exceptional high-grade deposit.

Figure 2: Cross-section A-A’ through Never Never Gold Deposit illustrating the deepest assay result from DGDH052 and nearby logged mineralisation, including substantial widths of “typical” Never Never-style mineralisation and logged trace visible gold in DGRC1392-DT (see Table 1). The tallest building in the world, the Burj Khalifa, and A380 shown for scale.

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. Core processing is currently underway, with assay results expected by mid- March.


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.

SPR:AU
The Conversation (0)
Map of Ontario, Canada, with "Top 5 Canadian Mining Stocks This Week" text overlay.

Top 5 Canadian Mining Stocks This Week: Onyx Gold Shines with 118 Percent Gain

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Statistics Canada released April’s gross domestic product (GDP) numbers on Friday (June 27). The data showed a slowing in the Canadian economy with a 0.1 percent monthly decline after it increased 0.2 percent in March as businesses attempted to get ahead of US tariff deadlines.

In April, the shift in US trade policy led to significant declines in the manufacturing sector, which saw its largest drop in four years at 1.9 percent. Durable goods manufacturing declined for the first time in four months, dropping 2.2 percent d. The most heavily impacted sub-sectors were transportation equipment and the auto sector, which fell 21.6 percent and 5.2 percent, respectively.

Keep reading...Show less
Gold bars with "5 Top Australian Mining Stocks" text overlay.

Top 5 Australian Mining Stocks This Week: GBM Soars on AU$13 Million Raise

Welcome to the first edition of the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.

In significant news for Australia's iron sector, mining giant Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), together with its joint venture partner Hancock Prospecting, said on Tuesday (June 24) that the partners will invest a combined US$1.6 billion to develop the Hope Downs 2 iron ore project in the Pilbara region, Western Australia.

Companies focused on antimony and gold have also been making news this week, such as Resolution Minerals (ASX:RML) announcing its acquisition of the Horse Heaven project in Idaho, US, and Ausgold (ASX:AUC,OTC Pink:AUSGF) signing an agreement to acquire Critica’s (ASX:CRI,OTC Pink:VTMLF) Kulin gold project in Western Australia.

Keep reading...Show less

Latest Press Releases

Related News

×