Spartan Resources Limited (ASX: SPR) (Spartan or the Company) 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:
West Winds Gold Prospect:
Figure 1: Long Section of Never Never Gold Deposit, Four Pillars and West Winds Gold Prospects looking east. Note location of cross-section A-A’ (see Figure 2). Recent assay results shown in gold.
The assays in this release include significant intercepts from resource in-fill and exploration drilling at the high-grade Never Never Gold Deposit, as well as a new broad intercept of significant gold mineralisation beneath the Gilbey’s Complex Mineral Resource, which is part of the developing higher grade West Winds Gold Prospect.
Figure 2: Cross-section A-A’ through the Never Never Gold Deposit illustrating the location of recent assays from DGRC1392-DT and DGRC1400-DT, as well as the previously reported deepest assay of 11.55m @ 36.77g/t gold in drillhole DGDH052. Note: Inset image of gold grade distribution in DGRC1392-DT intercept of 18.6m @ 9.67g/t gold.
Figure 3: Plan view of the Dalgaranga Mine Complex with recent highlight drill assay results in callout boxes across the main gold prospects at the Dalgaranga Gold Project.
Management Comment
Spartan Managing Director and Chief Executive Officer, Simon Lawson, said: “These latest drill-holes continue to demonstrate the untapped high-grade gold potential at Dalgaranga. Our drilling at the expanding Never Never Gold Deposit is consistently delivering high-grade gold drill intercepts, week after week, month after month.
“When you combine this with the high-grade intercepts that we’re also seeing from the nearby Four Pillars and West Winds gold prospects – such as 15m @ 6g/t gold including 3.0m @ 23g/t and 20m @ 3.5g/t gold including 6m @ 7g/t respectively, outside existing resources – you can see why we’re so excited about the potential ahead of us!
“We understand better than most just how difficult it is to exist as a gold producer with low grade ore feed and the consequential risk to cash margins. That is why as an exploration business we are focused and committed to finding high-grade ounces, delivering consistent high-grade resource growth and eventually solid high-grade reserves aimed at underpinning long-term, lower-risk re-start of gold production at Dalgaranga.
“These high-grade drill results continue to give us the confidence that we will succeed in our task to deliver value to all of our shareholders, rather than just talk about doing it.”
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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.
HIGHLIGHTS
Alex Passmore, NMG’s CEO commented: “Following a busy year of exploration and development work in 2024, the Company is delighted to report an increased Crown Prince Mineral Resource Estimate from the additional drilling undertaken.
With increased drilling density, the understanding of the Crown Prince deposit is at a strong confidence level with 81% of the ounces (i.e., 22C,000 oz) now reporting to the Indicated Mineral Resource classification. Pleasingly, the average ounce per vertical metre endowment sits at 1,538 within key areas of our conceptual open pit development.
This resource underpins the detailed feasibility study work which is well advanced to confirm the mining, metallurgical, geotechnical, economic and environmental parameters to develop the Crown Prince Gold Project.
Initial economic optimisation modelling of the Crown Prince resource confirms that there is sufficient grade and tonnage to sustain an open pit mining operation.”
Table 1: Crown Prince MRE Summary November 2024
This MRE (Table 1, Figure 1) was prepared by Cube Consulting, an independent consultant, using geological and mineralisation interpretations prepared by NMG using all available reverse circulation and diamond drillhole data. The updated Crown Prince MRE incorporates all drilling completed and assayed up to October 2024. Over the course of 2024, NMG’s exploration team completed 21,974 m of reverse circulation and diamond drilling within the Crown Prince area.
Following the discovery of the south eastern zone (SEZ) of mineralisation at Crown Prince in 2022, follow up exploration in 2023 and 2024 successfully added resource inventory via infill and extensional drilling.
Multiple phases of drilling were undertaken in 2024 (Table 2) with resulting assays now incorporated into the resource model supporting the November 2024 estimate for Crown Prince.
Mineralisation envelopes at the Main and Northern Zones were also better defined for this model. Additionally, new high-grade lodes were discovered in the Northern Zone contributing to the uplift seen in this updated MRE.
The Crown Prince deposit is hosted within quartz-carbonate veins within altered and sheared mafic units. In the weathered profile, primary mineralisation (fresh rock) has in places been enriched with a supergene overprint. Notably, primary mineralisation persists at depth and remains open (Figure 2). Further drilling will be undertaken to test for extensions.
Table 2: Drilling Summary for Crown Prince
Figure 1: Crown Prince MRE mineralisation wireframes, isometric view looking north.
Figure 2: Isometric view looking north of Crown Prince block model
Material Information Summary – Mineral Resources
Information required by ASX Listing Rule 5.8.1 (summary of technical information pertaining to the Mineral Resource Estimate) is detailed in the following sections.
Click here for the full ASX Release
This article includes content from Ora Gold, 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.
(TheNewswire)
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November 27th, 2024 TheNewswire - Vancouver, B.C. Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) (the "Company" or "Opawica") a Canadian mineral exploration company focused on precious and base metal projects.
Opawica to Present on the Emerging Growth Conference on the 5 th of December 2025
Opawica invites individual and institutional investors as well as advisors and analysts to attend its real-time, interactive presentation on the Emerging Growth Conference.
The next Emerging Growth Conference is presenting on 5 th of December 2025. This live, interactive online event will give existing shareholders and the investment community the opportunity to interact with the CEO and President Blake Morgan in real time. Blake Morgan CEO and President will perform a presentation and may subsequently open the floor for questions.
Please submit your questions in advance to Questions@EmergingGrowth.com or ask your questions during the event and Blake Morgan CEO will do his best to get through as many of them as possible.
Presentation link: https://goto.webcasts.com/starthere.jsp?ei=1677198&tp_key=9effb22694&sti=opwef
Blake Morgan CEO and President states, "We are thrilled to be presenting at the Emerging Growth Conference live at 4:25 - 4:55pm Eastern standard time on Thursday, December 5, 2024. With Opawica's phase two drilling program closing in, the time is right to bring more eyes to the Company and the opportunity that exists. With high priority drill targets now confirmed, we are excited to tell the story and opportunity at Opawica Exploration Inc. www.opawica.com
If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available on www.EmergingGrowth.com and on the Emerging Growth YouTube Channel, http://www.YouTube.com/EmergingGrowthConference . We will release a link to that after the event.
About the Emerging Growth Conference
The Emerging Growth conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in a time efficient manner. The Conference focus and coverage includes companies in a wide range of growth sectors, with strong management teams, innovative products & amp, services, focused strategy, execution, and the overall potential for long term growth. Its audience includes potentially tens of thousands of Individual and Institutional investors, as well as Investment advisors and analysts. All sessions will be conducted through video webcasts and will take place in the Eastern time zone.
About Opawica Explorations Inc.
Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. The Company's management has a great track record in discovering and developing successful exploration projects. The Company's objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT:
Blake Morgan
President and Chief Executive Officer
Telephone: 236-878-4938
Fax: 604-681-3552
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances as required by applicable law.
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