| Announcement Date: | 2023-09-12 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | JORC |
| Company name: | Spartan Resources Ltd. |
| Project name: | Dalgaranga |
| Location: | Australia |
| Commodities: | Gold |
| Highlight: | Drilling results incl. 33.10m at 8.15g/t Au from 169.40m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Spartan Resources Limited (“Spartan” or “Company”) (ASX: SPR) is pleased to advise that a major new 25,000m multi-rig drilling campaign has commenced at its 100%-owned Dalgaranga Gold Project in Western Australia targeting further rapid growth in the high-grade resource inventory. The new drilling program will target extensions and a further upgrade in the high-grade 721,200oz Mineral Resource Estimate (MRE) for the Never Never Gold Deposit, while also aggressively drilling out “nearmine” targets and the nearby Arc gold prospect. In addition, investigative work by the Spartan geology team, in conjunction with external structural geology consultants, has confirmed two high-priority drill targets, the Four Pillars and West Winds gold prospects, located approximately 500 metres to the south of Never Never directly beneath the Gilbey’s open pit. A number of additional as yet unnamed medium-priority drill targets have also been defined, all less than 2km from the 2.5Mtpa Dalgaranga Processing Plant. Included in this release are results for two drill-holes completed adjacent to the Gilbey’s Pit in late 2022 but due to the suspension of mining and processing operations at the time were given low priority. As an underground mining scenario is now likely for nearby Never Never, re-evaluation of the assays for these “historic” drill-holes (DGRC1161 and DGRC1162) has been conducted and they are now presented as more meaningful intercepts. |
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