Spartan Resources

High-Grade Gold Assays from Non-Core Gascoyne Regional Project

Update on drilling and recent assays from Spartan’s non-core northern assets, the Glenburgh and Egerton Gold Projects

Spartan Resources Limited (“Spartan” or “Company”) (ASX: SPR) is pleased to report drilling and assay information from recent drilling at its 100%-owned Glenburgh Gold Project “GGP” and Egerton Gold Project “EGP”, together the “Gascoyne Regional Project” in Western Australia.


Highlights – Glenburgh Gold Project:

  • Resource extension drilling at the high-grade Zone 126 gold deposit has returned:
    • 12.0m @ 4.40g/t gold from 157.0m, incl. 5.0m @ 9.10g/t, and;
    • 4.0m @ 6.0g/t gold from 191.0m, incl. 1.0m @ 20.80g/t (GRC22002)
    • 6.0m @ 6.40g/t gold from 145.0m (GRC22003)
    • 13.0m @ 5.33g/t gold from 137.0m, incl. 5.0m @ 8.70g/t (23GBRC003)

Highlights – Egerton Gold Project:

  • Exploration drilling at the Hibernian West target, located 0.5km west along-strike from the 27,000oz Hibernian gold deposit has returned:
    • 4.0m @ 91.91g/t gold from 36m, incl. 1.0m @ 363.00g/t (MERC083)
  • Exploration drilling at the Mako target, located 2.8km east along-strike from the 27,000oz Hibernian gold deposit has returned:
    • 17.0m @ 5.85g/t gold from 36m, incl. 2.0m @ 19.58g/t (MERC092)
Management Comment

Spartan Managing Director and Chief Executive Officer, Simon Lawson, said: “Our team has been very successful in finding and defining high-grade gold deposits and delivering some of the best drill intercepts seen in recent times at our flagship Dalgaranga Gold Project. This work has resulted in the discovery of the high-grade Never Never Gold Deposit and other emerging high-grade gold prospects along-trend, all within a 2km radius of our 2.5Mtpa Processing Plant.

“With our discovery momentum now well-established at Dalgaranga, the team has had the opportunity to progress other emerging high-grade gold opportunities within our portfolio. I am very pleased to present assays that continue this high-grade theme with some impressive drill intercepts at both of our non-core Glenburgh and Egerton Gold Projects, which make up our Gascoyne Region Gold Project.

“While these projects are non-core given our concerted focus on building the high-grade gold ounce inventory in front of our process plant at Dalgaranga, we have had to complete some drilling on them to maintain them in good standing over the past 12 months. The full assay results have now been received, processed and interpreted by our team and are presented in this announcement.”

The Glenburgh Gold Project is located approximately 320km north “as the crow flies”, or 450km by established secondary roads, from the Dalgaranga Gold Project. The Egerton Gold Project is approximately 165km east “as the crow flies”, or 250km by established secondary roads, from the Glenburgh Gold Project and more than 500km by road from the Dalgaranga Gold Project. Refer to Figure 12 for location details.

The Gascoyne Regional Project has a declared Mineral Resource Estimate (MRE) of 16.57Mt @ 1.01g/t for 537,100 ounces of gold.

The Glenburgh Gold Project has an MRE of 16.3Mt @ 1.0g/t for 510,100 ounces gold spread across a number of individual deposits along a ~20km long strike of mineralisation.

Glenburgh Gold Project

Figure 1: Satellite view of Spartan Resources’ Glenburgh Gold Project tenure showing the main gold prospects.

Figure 2: Plan view of the central Glenburgh Gold Project tenements and granted Mining Lease showing the main prospects, maximum gold grade down-hole projected to drill-hole collar, and recent assays from drilling.


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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