Spartan Resources

High-Grade Focus Delivers 2.48MOZ @ 4.79g/T – 47% Increase in Ounces and 91% in Grade

Aggressive drilling at the flagship Never Never Deposit and the new Pepper discovery outlines 1.87Moz @ 8.65g/t within 2km of the plant

Spartan Resources Limited (“Spartan” or the “Company”) (ASX: Spartan) is pleased to announce the Updated Mineral Resource Estimate (“MRE”) for its 100%-owned Dalgaranga Gold Project “DGP”, located in the Murchison region of Western Australia.


HIGHLIGHTS
  • Updated Mineral Resource Estimate (“MRE”) completed for the Dalgaranga Gold Project, located on granted Mining Leases and within 2km of the 2.5Mtpa processing plant:
    • 16.1Mt @ 4.79g/t gold for 2,482,200 ounces, comprising:
      • 5.72Mt @ 8.07g/t gold for 1,485,200 ounces – Never Never Gold Deposit
      • 1.78Mt @ 7.66g/t gold for 438,100 ounces – Pepper Gold Deposit
      • 8.63Mt @ 2.01g/t gold for 558,900 ounces – “Other” Underground MRE
  • Resource Classification breakdown for the updated Dalgaranga Gold Project MRE:
    • 8.70Mt @ 4.98g/t gold for 1,392,800 ounces (56%) classified as Indicated;
    • 7.44Mt @ 4.56g/t gold for 1,089,400 ounces (44%) classified as Inferred.
  • Resource Classification breakdown for the Underground Never Never Gold Deposit MRE:
    • 3.88Mt @ 8.74g/t gold for 1,091,200 ounces (76%) classified as Indicated;
    • 1.08Mt @ 9.95g/t gold for 346,200 ounces (24%) classified as Inferred.
  • Maiden Mineral Resource Estimate for the Underground Pepper Gold Deposit:
    • 1.78Mt @ 7.66g/t gold for 438,100 ounces (100%) classified as Inferred.
  • Combined high-grade underground MRE for the Never Never and Pepper Gold Deposits:
    • 6.75Mt @ 8.65g/t gold for 1,875,600 ounces (58%) classified as Indicated.
  • The ounces per vertical metre (“ozpvm”) for the updated high-grade underground MRE has increased 24% to 2,284ozpvm, from 1,690ozpvm. Between 450mbsl and 650mbsl, through both Never Never and Pepper, the ozpvm averages 3,796ozpm.
  • A focus on delineating higher grade underground Mineral Resources for the Four Pillars and West Winds gold prospects, as well as the nearby Sly Fox and Plymouth gold deposits has underpinned the “Other” Underground MRE of:
    • 8.63Mt @ 2.01g/t gold for 558,900 ounces:
  • Updated Spartan Group Mineral Resources for the Dalgaranga and Yalgoo (“Murchison”) and Glenburgh and Egerton (“Gascoyne”) Projects now stand at:
    • 39.15Mt @ 2.62g/t gold for 3,302,000 ounces (61% or 2.01Moz Indicated)
This latest MRE update is a pivot towards Dalgaranga as an emerging high-grade underground gold mining operation, and comprises Never Never, Pepper, Four Pillar, West Winds, Applewood, Plymouth and Sly Fox deposits. MRE details are shown in Tables 1 to 4:
Table 1. Dalgaranga Gold Project Combined Resources at 30 June 2024*

Spartan Resources Dalgaranga gold project combined resources


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)
Gold bar on top of gold nuggets.

Top 5 Canadian Mining Stocks This Week: O3 Mining Up 60 Percent on Agnico Eagle Takeover Deal

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.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 1.12 percent on the week to close at 607.84 on Friday (December 13). Meanwhile, the S&P/TSX Composite Index (INDEXTSI:OSPTX) posted a 1.71 percent decrease to hit 25,274.3, and the CSE Composite Index (CSE:CSECOMP) sank 2.68 percent to reach 131.45.

The US Bureau of Labor Statistics released November consumer price index (CPI) data on Wednesday (December 11).

The report shows the all-items index increased by 0.3 percent monthly, compared to the 0.2 percent recorded in each of the previous four months. Core CPI was also up 0.3 percent, steady compared to the previous three months.

Keep reading...Show less
Mine trucks at site.

Top Stories This Week: Gold Price Reacts to Inflation Data, Trump Makes Big Permitting Promise

The gold price rose early on this week, breaking US$2,700 per ounce on Wednesday (December 11).

The metal was reacting to the latest US consumer price index (CPI) data, which shows a 2.7 percent year-on-year increase for the month of November. That's up slightly from the 2.6 percent annual gain seen in October.

CPI was up 0.3 percent month-on-month, again higher than October's 0.2 percent rise. Core CPI, which excludes the more volatile food and energy categories, was up 3.3 percent year-on-year and 0.3 percent from the previous month.

Keep reading...Show less
larry lepard, gold, silver, bitcoin

Lawrence Lepard: "Big Print" Coming — Fully Expect US$5,000 Gold, US$200,000 Bitcoin

Speaking to the Investing News Network, Lawrence Lepard, managing director at EMA, voiced his thoughts on the outlook for gold and Bitcoin as the debt doom loop intensifies in the US.

"I call it a doom loop — it's a vicious circle in the wrong direction, which I believe will ultimately lead to the government having to say, 'Okay, this isn't going to work. We are going to institute yield curve control or QE, or we're going to buy the bonds,'" he explained on the sidelines of the New Orleans Investment Conference.

Lepard believes it's important to hold both gold and Bitcoin, noting that the only wrong allocation is zero.

Keep reading...Show less
Chris Temple, uranium symbol and gold bars.

Chris Temple: Gold's Next Leg Higher, Plus Uranium and Natural Gas in 2025

Chris Temple, founder, editor and publisher of the National Investor, outlined the main factors he sees impacting the gold price heading into 2025, saying the yellow metal will undoubtedly move higher.

In his view, its rise will come as market participants realize how many problems the US economy is facing.

"I think that once that reality sets in, gold will get its next big lease on life and the stock market is going to bog down. I think we're going to see a lot of rotation in the market that will start to favor real assets and real value — away from everybody chasing the same relative handful of stocks as we've seen," Temple explained.

Keep reading...Show less
Gold bars stacked in ascending order.

WGC: Gold to Face Complex Drivers in 2025, Price Likely to Cool After Record-Breaking Year

The World Gold Council (WGC) has released its 2025 gold outlook, highlighting various macroeconomic factors, geopolitical risks and central bank activity as pivotal forces influencing demand and prices.

While 2024 saw gold achieve a stellar performance with a 28 percent annual increase, the outlook for 2025 is characterized by a mix of opportunities and challenges stemming from both global and regional developments.

The yellow metal has benefited from its historical role as a hedge against uncertainty, but the WGC forecasts that its performance next year will depend on other key variables as well.

Keep reading...Show less
Brightstar Resources Managing Director Alex Rovira.

Increased M&A Activity a Win-Win for Gold Sector, Brightstar Resources Exec Says

Following the completion of its acquisition of Alto Metals, Brightstar Resources (ASX:BTR) plans to conduct 50,000 metres of reverse-circulation and diamond drilling, beginning next year, at Alto Metals' approximately 900 square kilometre Sandstone gold project in Western Australia.

In an interview with the Investing News Network, Brightstar Managing Director Alex Rovira outlined the next steps for merging Alto Metals with Brightstar’s assets and the strategy for moving forward.

“From an exploration perspective … it's really focusing on the Sandstone package. We will do near-mine brownfields exploration at our Menzies and Laverton gold projects. And really, the aspiration there is to take a number of those mines toward development decisions,” he said.

Keep reading...Show less

Latest Press Releases

Related News

×