Spartan Resources

More Strong Drill Hits Across Key Prospects Paves the Way for Mid-Year Resource Update

High-grade intercepts both inside and outside existing Resource’s points to expanding high-grade underground potential at Dalgaranga

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:

  • 15.85m @ 20.23/t gold (100g/t top-cut) from 585.0m, incl. 2.50m @ 64.00g/t (DGRC1400-DT)
    • 9th best Never Never gram x metre intercept (320.65gxm) in-fills Inferred area of the current 0.95Moz Never Never Mineral Resource Estimate.
    • Uncut intercept – 15.85m @ 136.80g/t gold, incl. 2.50m @ 697.00g/t
  • 18.60m @ 9.67g/t gold (uncut) from 696.25m, incl. 6.05m @ 18.17g/t (DGRC1392-DT)
    • Intercept located ~20m below and outside current 0.95Moz Mineral Resource Estimate.

West Winds Gold Prospect:

  • 20.00m @ 3.49g/t gold from 322.0m, incl. 6.00m @ 7.30g/t (DGRC1422)

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.”


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)
Metal Hawk Limited

High Grade Rock Chip Assays Confirm New Gold Discoveries at Leinster South

Metal Hawk Limited (ASX: MHK, “Metal Hawk” or the “Company”) is pleased to provide an exploration update relating to its 100% owned Leinster South Project, located 30km south of Leinster, in the world-class Agnew-Lawlers region of the eastern goldfields in Western Australia.

Keep reading...Show less

B2Gold Reports Q3 2024 Results; On Track to Meet Total 2024 Gold Production Revised Guidance; Year-To-Date Cash Operating Costs within Annual Guidance Range and Year-To-Date All-In Sustaining Costs Below Revised Annual Guidance Range

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") announces its operational and financial results for the third quarter of 2024. All dollar figures are in United States dollars unless otherwise indicated.

2024 Third Quarter Highlights

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Franco-Nevada Reports Q3 2024 Results

Initial Contributions from Tocantinzinho Stream

(in U.S. dollars unless otherwise noted)

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Donald Trump.

Trump Win Fuels Surge in US Dollar, Gold and Silver Prices Fall

What was expected to be a highly contested election between former US President Donald Trump and Vice President Kamala Harris was anything but, with the outcome being called early on Wednesday (November 6).

The results will have wide-reaching implications for the US and global economy as Trump ran on a platform of lowering taxes, raising tariffs and sweeping immigration reforms that could see millions of people deported.

His win comes ahead of the latest Federal Open Market Committee meeting, which is scheduled to wrap up on Thursday (November 7). The central bank is widely expected to cut interest rates by 25 basis points.

Keep reading...Show less
Gold bars on top of US bills.

Will Trump Bring Back the Gold Standard? (Updated 2024)

The gold standard hasn’t been used in the US since the 1970s, but when Donald Trump was president from 2017 to 2021 there was some speculation that he could bring it back.

Rumors that the gold standard could be reinstated during Trump’s presidency centered largely on positive comments he made about the idea. Notably, he suggested that it would be “wonderful” to bring back the gold standard, and a number of his advisors were of the same mind — Judy Shelton, John Allison and others supported the concept.

Now that Trump has won the 2024 US presidential election, some are again wondering if he will return the country to the gold standard after he takes office in January 2025. Speaking on his War Room podcast in December 2023, Steve Bannon, Trump's former chief strategist, said he believes the president elect could ditch the US Federal Reserve and bring back the gold standard in his second term in office.

More recently, the Heritage Foundation included a whole chapter on the US Federal Reserve written by a former member of Trump's 2016 transition team in its Project 2025 (a proposed blueprint for Trump's second term), and suggested a return to the gold standard. While President Trump has publicly disavowed Project 2025, its creators say he is privately supportive of the initiative.

Keep reading...Show less
Metal Hawk Limited

Metal Hawk Limited (ASX: MHK) – Trading Halt

Description

The securities of Metal Hawk Limited (‘MHK’) will be placed in trading halt at the request of MHK, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Friday, 8 November 2024 or when the announcement is released to the market.

Keep reading...Show less

Latest Press Releases

Related News

×