Never Never and Pepper Deliver Exceptional Assays Ahead of Imminent Resource Update

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

• Never Never Gold Deposit – strong in-fill drilling results strengthen deeper Resource extents:
  • 10.14m @ 11.26g/t gold from 966.90m down-hole, incl. 0.77m @ 126.45g/t (DGDH064-W1)
  • 9.07m @ 17.81g/t gold from 760.55m down-hole, incl. 1.52m @ 99.45g/t (DGDH072-W3)
  • 10.66m @ 6.55g/t gold from 798.02m down-hole, incl. 0.49m @ 126.00g/t (DGDH072-W4)
• Pepper Gold Prospect – new deepest intercept expands potential high-grade Resource extent:
  • 13.50m @ 4.47g/t gold from 679.50m down-hole, incl. 0.5m @ 73.04g/t (DGDH073)

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.

• 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 due for imminent release.
• Underground Exploration Drill Drive – finalisation of approvals and support activities for the underground development are well in train with development to commence in Q3 2024.

This release contains new assay results from recent surface drilling targeting the high-potential and very high-grade Pepper Gold Prospect, as well as the immediately adjacent and ever growing high-grade Never Never Gold Deposit.

Management Comment

Spartan Managing Director and Chief Executive Officer, Simon Lawson, said: “These latest intercepts demonstrate the incredible potential of what we have found right in front of our processing plant at Dalgaranga. With the Never Never Gold Deposit we have really shown what can happen with a change in mindset and the more recent discovery of the Pepper Gold Prospect has demonstrated that we are really onto something very special in this under-explored greenstone belt.

“Our drill teams are taking a well-earned rest at the moment while we catch up on the frantic pace of drilling and discovery. Our geology team is now finalising the new Mineral Resource Estimate to collate our drilling efforts in the first half of this calendar year and update the Spartan value proposition. While we take a brief drilling hiatus, we are planning and prioritising our second half exploration program so that we increase our momentum and keep driving the Spartan juggernaut forward!”

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