Spartan Resources

Exceptional New Thick, High-Grade Intercepts

New deepest intercept at Pepper - 30.79m @ 12.12g/t and Never Never delivers19.57m @ 19.43g/t demonstrating grade and endowment of adjacent deposits

Spartan Resources Limited (“Spartan” or “Company”) (ASX: SPR) is pleased to provide an update on exploration activities at its 100%-owned Dalgaranga Gold Project (“DGP”), located in the Murchison region of Western Australia.


Highlights:

  • Never Never Gold Deposit – strong in-fill drilling intercept strengthens deeper Resource extents:
    • 19.67m @ 19.43g/t gold from 765.33m down-hole, incl. 3.74m @ 62.98g/t (DGDH066)
  • Pepper Gold Prospect – new deepest intercept expands potential high-grade Resource extents:
    • 30.79m @ 12.12g/t gold from 647.67m down-hole, incl. 3.47m @ 92.19g/t (DGRC1431-DT)

Figure 1: Long Section of the Never Never Gold Deposit and the Pepper, Four Pillars and West Winds Gold Prospects looking east. Newly reported drill intercept assays detailed in the gold callout boxes. Note the proposed exploration drill drive design in black.

  • Mineral Resource Estimate updates for the Never Never and Sly Fox Gold Deposits, as well as maiden standalone MRE’s for the Four Pillars, West Winds and Pepper Gold Prospects will be completed as part of the scheduled mid-year market update for the Dalgaranga Gold Project.
  • Underground Exploration Drill Drive – submissions from four major underground mining contractors have been received. Submissions are currently being evaluated and awarding of the exploration drill drive development contract is expected in July. Surface support works in preparation for underground development activities are underway in anticipation of receiving approvals to commence the works to support the planned timing of development beginning later in the September quarter.

This release contains new assay results from recent surface drilling targeting the recently discovered high-grade Pepper Gold Prospect (DGRC1431-DT and DGDH071), as well as the immediately adjacent and growing Never Never Gold Deposit (DGDH066 and DGDH072-W2).

Figure 2: Plan-view of the key gold targets at the Dalgaranga Gold Project. The Pepper Gold Prospect is located between the Never Never Gold Deposit and the Four Pillars Gold Prospect, marking the northern end of the former Gilbey’s Open Pit. Drill-hole intercept grades are shown coloured by gold grade and recent drill assays are highlighted in gold callout boxes.

Management Comment

Spartan Managing Director and Chief Executive Officer, Simon Lawson, said: “The parent hole to the recently reported deepest intercept at Pepper of 25.24m @ 16.66g/t gold (DGRC1431-DT-W1) rewrites history again, being deeper still and returning an exceptional intercept of 30.79m @ 12.12g/t gold (DGRC1431-DT). These two holes are separated by about 50m and demonstrate the continuity of thick, high-grade gold mineralisation at this exciting new and growing prospect.

“The Never Never Gold Deposit also continues to throw up pleasant surprises, with a new thick and consistently high-grade intercept of 19.67m @ 19.43g/t gold (DGDH066) from within the Inferred area of the existing Mineral Resource Estimate. This near 400 gram x metre result provides strong support for our objective of converting Inferred ounces to the higher confidence Indicated category by in-filling this part of the existing MRE.


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)
North Stawell Minerals

High-grade Gold Intercept Confirmed at Darlington

North Stawell Minerals (ASX:NSM) is pleased to announce an update on the results of its recent diamond drill program. The North Stawell Project includes a 504 km2 contiguous package of ground that incorporates the gold-prospective corridor immediately north of Stawell Gold Mines’ operation at Stawell. A thin blanket of unmineralised sediments preserves potential for large, near-surface repeats of the multimillion-ounce ore deposit at Stawell. The current focus is on two priority targets, Wildwood and Darlington, which both have potential to be repeats of the multi-million-ounce mineralisation at Stawell.

Keep reading...Show less
Gold bars and coins with an upward graph, symbolizing financial growth.

Juniors Gain Momentum as Gold Price Surges

As the gold price continues its upward trajectory, investors are turning their attention to junior exploration companies poised to capitalize on this bullish trend.

The gold price has reached unprecedented levels in 2025, with spot gold recently peaking at US$3,245.42 per ounce before settling slightly lower. This surge has been attributed to a combination of factors, including inflationary pressures, central bank demand and geopolitical tensions.

For junior exploration companies, these elevated prices present transformative opportunities, reshaping project viability and investor appeal.

Keep reading...Show less
Gold coin stacks with up arrow.

Gold Price Hits New Record, Touching US$3,500 for First Time

The gold price reached yet another record high on Tuesday (April 22), hitting US$3,500 per ounce.

In trading on Monday (April 21), the precious metal surged past the US$3,400 mark; it then briefly touched US$3,500 early on Tuesday morning before settling in the US$3,425 to US$3,450 range.

Gold has been on the rise all year, with the latest boost coming after US Federal Reserve Chair Jerome Powell spoke at the Economic Club of Chicago on April 16. In his remarks, he said he expects US President Donald Trump's tariff policy to negatively impact American economic growth and further fuel inflation in the country.

Gold's momentum was boosted in the following days as Trump made his own statements suggesting he is seeking ways to remove Powell as the head of the US central bank. However, the Fed operates at arm's length, and it would require an act of Congress to remove Powell from his post. Powell's term is set to expire in May 2026.

Keep reading...Show less
Molten metal being poured into a mold by a worker wearing heat-resistant gloves.

Black Cat Pours First Gold at Lakewood Processing Facility

Black Cat Syndicate (ASX:BC8,OTC Pink:BLCAF) has successfully poured first gold at its recently purchased Lakewood processing facility, marking a key milestone for the company.

The pour took place on April 16, with 757 ounces of gold produced at the site.

The Lakewood facility, acquired by Black Cat on March 31, is located 6 kilometres southeast of Kalgoorlie, Western Australia, and within 40 kilometres of Black Cat’s fully owned Kal East gold operation.

Processing began on April 1, immediately after Black Cat took possession of Lakewood. Since then, the company has hauled 60,000 tonnes of ore from Kal East's Myhree open pit to the processing facility.

“The commencement of processing through Lakewood has started well with throughputs, grade and recoveries all above expectation,” said Black Cat Managing Director Gareth Solly.

Keep reading...Show less
Gold bars stacked on colorful currency notes.

WIN Metals Updates Butchers Creek Gold Resource, Plans to Advance Development

WIN Metals (ASX:WIN)will now advance toward developmental studies for its Butchers Creek gold project.

The company released an updated mineral resource estimate for the asset on April 16, saying it now stands at 5.23 million tonnes at 1.91 grams per tonne (g/t) gold for 321,000 ounces of gold.

The project's indicated resource has increased by 86 percent, coming in at 3.58 million tonnes at 2.24 g/t gold for 258,000 ounces of gold. The inferred category holds 1.66 million tonnes at 1.18 g/t gold for 63,000 ounces of gold.

Butchers Creek is located in the East Kimberley region of Western Australia and historically produced at least 52,000 ounces of gold. According to WIN, open-pit mining took place at the site between 1995 and 1997.

WIN acquired Butchers Creek from Meteoric Resources (ASX:MEI,OTC Pink:METOF) in late 2024. According to the company, it hosts numerous high-order drill targets from over 60 known gold occurrences.

Keep reading...Show less
Three gold bars on price chart with magnifying glass.

What Was the Highest Price for Gold?

Gold has long been considered a store of wealth, and the price of gold often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.

The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has pushed the precious metal to record highs as market participants seek its perceived security.

And each time the gold price rises, there are calls for even higher record-breaking levels.

Gold market gurus from Lynette Zang to Chris Blasi to Jordan Roy-Byrne have shared eye-popping predictions on the gold price that would intrigue any investor — gold bug or not.

Some have posited that the gold price may rise as high as US$4,000 or US$5,000 per ounce, and there are even those who believe that US$10,000 gold or even US$40,000 gold could become a reality.

These impressive price predictions have investors wondering, what is gold's all-time high (ATH)?

In the past year, gold has reached a new all-time high dozens of times. Find out what has driven it to these levels, plus how the gold price has moved historically and what has driven its performance in recent years.

Keep reading...Show less

Latest Press Releases

Related News

×