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Spartan Resources (ASX:SPR) reports outstanding high-grade assay results

Spartan Resources reports high-grade assay results


Spartan Resources Limited (ASX:SPR) has released an update on its Dalgaranga Gold Project, reporting outstanding high-grade assay results from recent drilling. The company's exploration update includes significant intercepts from resource in-fill and extensional drilling at the high-grade Never Never Gold Deposit, as well as results from drilling at the Four Pillars and West Winds prospects beneath the Gilbey's open pit.

Spartan Managing Director and CEO, Simon Lawson, on 2023 achievements


2023 has been a truly transformational year for our shareholders and our Company. Our team has remained focused at all times on the things we can control applying smart geology, undertaking effective drilling and delivering high-grade resource growth, as well as keeping our established infrastructure in place and in a high state of readiness. This means we are now very well positioned as a low-risk, well-capitalized, high-grade gold investment with existing production infrastructure in times of record US & Australian gold prices. We offer unique optionality and exposure to gold in challenging economic times. The intense drill focus on the high-grade Never Never discovery has delivered more than 720,000oz of high-grade gold - mineralized from surface and including roughly 90koz @ 2.2g/t in open pit Resources as well as 630koz above 7.5g/t gold in the underground environment - in a very short space of time. Our wider focus on delivering further higher-grade tonnage ore sources has seen us apply what we have learned at Never Never to the former Gilbey's open-pit environment, highlighting specifically the Four Pillars and West Winds targets on the western side of the pit. These targets are just starting to reveal their true identity as standout higher-grade, structurally-associated gold shoots within the wider Gilbey's stratigraphic sequence, with the potential to add significant tonnages at a very reasonable grade to any future mine plan. Work is well advanced on the resource upgrade for both Never Never and the Gilbey's Mine Complex, with most of the results from today's release to be included in the MRE upgrade, which is on track to be finalized and delivered to market imminently. A new and expansive drill campaign will commence in January to build on the significant resource foundation already established as we seek to continue to grow high-confidence and high-grade gold ounces in front of our established infrastructure.

Spartan Resources' outlook and corporate strategy


Spartan Resources has reported outstanding high-grade assay results from its Dalgaranga Gold Project, marking a successful year in 2023. The company's focus on delivering high-grade resource growth and maintaining established infrastructure has positioned it as a low-risk, well-capitalized, high-grade gold investment. The intense drill focus on the high-grade Never Never discovery has yielded significant high-grade gold ounces, both in open pit resources and the underground environment. Additionally, the company's wider focus on delivering higher-grade tonnage ore sources has shown promising results at the Four Pillars and West Winds targets. Work is well advanced on the resource upgrade for both Never Never and the Gilbey's Mine Complex, with a new drill campaign set to commence in January to further grow high-confidence and high-grade gold ounces. Spartan Resources' outlook includes continued growth and exploration to expand its resource foundation and maintain its position as a significant player in the gold mining industry.

Sourcehttps://announcements.asx.com.au/asxpdf/20231212/pdf/05yg5zpgfgy9r2.pdf

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