VISIBLE GOLD SPARKS EXCITEMENT AT DALGARANGA

Deep Below the Surface, Dalgaranga’s Never Never Deposit Shines

Spartan Resources Ltd (ASX:SPR) Dalgaranga Gold Project’s latest exploration update heralds a significant milestone for Spartan, as deep drilling beneath the Never Never Gold Deposit reveals visible gold over a kilometre deep. This endeavour pushes the boundaries of the known gold-rich zones, expanding the potential of the site’s resources.

Deep Dive into Never Never

A remarkable find at approximately 1,034 meters down-hole, a 20+ meter section exhibits “typical Never Never-style” mineralization, including visible gold sightings at depths of 1,046 and 1,050 meters (DGDH064). This intercept, located roughly 400 meters down-plunge from the 0.95 million ounces (Moz) Never Never Mineral Resource Estimate (MRE), sets the stage for an eagerly awaited assay.

Further impressive intercepts within the current 0.95Moz MRE aim to convert Inferred Resources to Indicated, including:

  • 12.54m at 14.32g/t gold from 570.91m, with a high-grade core of 2.52m at 67.49g/t gold (DGRC1430-DT).
  • 13.75m at 10.08g/t gold from 667.00m, featuring 3.00m at 38.10g/t gold (DGRC1429-DT).
  • 12.80m at 8.13g/t gold from 603.00m, including 1.00m at an exceptional 96.47g/t gold (DGDH055).

Management’s Perspective

Spartan Managing Director and Chief Executive Officer, Simon Lawson, said:

This latest intercept in drill-hole DGDH064 is another fantastic development in our ongoing systematic exploration of the Never Never mineral system. While it’s safe to say this is the deepest drill-hole we will be drilling from surface for the time being, we’re absolutely delighted to see a plus-20-metre down-hole intercept of typical Never Never-style mineralisation with visible gold logged in two areas.

The intercept – which has all the characteristic attributes of high-grade Never Never mineralisation with heavy silica flooding, sericite/biotite alteration and visible gold – is located approximately 245m down-plunge of drill-hole DGDH052, which returned a Top 3 all-time Never Never intercept of 11.55m @ 36.77g/t gold. We are confident this latest intercept takes the consistent down-plunge extent of Never Never mineralisation beyond 1,000m vertical depth, more than 1,250m down-plunge and, most importantly, extends the mineralisation to more than 400m below the existing 952koz high-grade Mineral Resource. We eagerly await the assay results from this deepest intercept.

Read the full announcement

Goldman

Read Previous

GOLDEN QUARTERLY SUCCESS FOR TIETTO MINERALS

Read Next

GOLD AND COPPER BREAKTHROUGH AT SPUR PROJECT