{"id":1397,"date":"2023-11-14T03:13:33","date_gmt":"2023-11-14T03:13:33","guid":{"rendered":"https:\/\/economicherald.net\/?p=1397"},"modified":"2023-11-14T03:13:33","modified_gmt":"2023-11-14T03:13:33","slug":"records-keep-tumbling-spartan-resources-lands-more-strikes-with-massive-1093g-t-gold-hit-at-never-never","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=1397","title":{"rendered":"\u2018Records keep tumbling\u2019: Spartan Resources lands more strikes with massive 1,093g\/t gold hit at Never Never"},"content":{"rendered":"<p>Spartan Resources\u2019 drilling hits up to 1,093g\/t gold at company changing Never Never discovery<br \/>\nNew visible gold intercept ~110m below the current 721,200oz high-grade resource<br \/>\nDrilling also extends strike of high-grade mineralisation at the Ink Lode by 135m<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> Already credited with driving Spartan Resources\u2019 transformation, the high-grade Never Never deposit looks poised to deliver the next phase of growth after drilling returned a monstrous 1,093g\/t intercept and more visible gold.<\/strong><\/p>\n<p>The exceptional deposit, which currently has a resource of 3.83Mt grading 5.85 grams per tonne (g\/t) gold, or 721,200oz of contained gold, is central to the company\u2019s revitalisation of the Dalgaranga operation in WA\u2019s Murchison region.<\/p>\n<p>While its previous incarnation \u2013 Gascoyne Resources \u2013 went into administration after failing to economically mine and process the (then) sub 1 gram per tonne (g\/t) gold resource found within the open pit at Dalgaranga, the subsequent discovery of Never Never has changed its fortunes.<\/p>\n<p>Though momentum started to build in May this year when reverse circulation drilling delivered high-grade gold hits, shares in <a href=\"https:\/\/stockhead.com.au\/company\/spartan-resources-spr\/\"><strong>Spartan Resources (ASX:SPR)<\/strong><\/a> really exploded when it upgraded resources to the current level.<\/p>\n<p>Since them, SPR has climbed from 20c prior to the announcement to the current 46c \u2014 an impressive 130% gain \u2014 as investors twigged on to the fact that the company had significant high-grade resources to feed into its established infrastructure.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>New high-grade intercepts<\/strong><\/h2>\n<p>Long-section of the Never Never Gold Deposit looking east with new interpreted flexure zone across the lower part. Pic: Supplied (SPR).<\/p>\n<p>Its expanded resource drilling program has now added even more fuel into the fire with holes returning new high-grade gold intercepts, visible gold about 110m below the current resource envelope, and that narrow but eye-popping 1,093g\/t intersection.<\/p>\n<p>Highlighted assays from the latest batch of results received are:<\/p>\n<p>27.26m grading 6.64g\/t gold from 441.46m down-hole including 2.36m at 28.37g\/t gold and 4.22m at 18.97g\/t gold;<br \/>\n11.1m at 12.1g\/g told from 444.9m including 5.1m at 23.07g\/t gold that also holds the 0.28m at 1,093g\/t gold intercept;<br \/>\n9.5m at 4.01g\/t gold from 570.5m including 5.65m at 6.23g\/t gold (the <a href=\"https:\/\/stockhead.com.au\/resources\/the-system-continues-at-depth-spartan-pulls-up-visible-gold-130m-below-deepest-assays-at-never-never\/\"><strong>visible gold intercept noted in late October<\/strong><\/a>); and<br \/>\n13m at 4.18g\/t gold from 520m including 6.63m at 7.21g\/t gold where visible gold was noted.<\/p>\n<p>The company noted that in the lower part of Never Never, there is an apparent shift in high-grade mineralisation laterally south towards the Gilbey\u2019s mineralised system.<\/p>\n<p>Adding interest, drilling at the separate Ink lode returned a 0.82m intercept grading 33.27g\/t gold from 250.34m, extending the potential strike of high-grade mineralisation by 135m.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>\u2018We have shown we can discover, define and deliver\u2019<\/strong><\/h2>\n<p>\u201cThe assay records keep tumbling the more we drill at Never Never \u2013 another indication we have a fantastic orebody on our hands. The fact that we keep hitting visible gold in drill-core and RC chips the deeper we go is also a great sign,\u201d managing director Simon Lawson said.<\/p>\n<p>\u201cIt tells us that gold is present in the targets we are drilling and, while never a substitute for actual assays, it continues to reinforce that our exploration model is valid. When we see alteration and damage in the core that is always a great sign but spotting visible gold is always a buzz for any gold exploration geologist!<\/p>\n<p>\u201cWith these latest assays validating the very furthest extents of the Never Never resource and multiple drill rigs spinning across multiple targets, we are applying a substantial amount of statistical pressure to good, proven, high-grade gold geology.<\/p>\n<p>\u201cWe are working the numbers, closing the gaps, chasing down the leads and hunting those high-grade drill returns.<\/p>\n<p>\u201cSimultaneously, we are working to de-risk Dalgaranga for the future, turning concepts into actual prospects and then into deposits, delivering solid, consistent outcomes and hopefully providing insights to our investors along that journey.<\/p>\n<p>\u201cThese latest drill-holes provide a window into the growing excitement at Spartan. Our mineral resource asset base is growing strongly with each drilling campaign, we are well on the path to establishing new high-grade reserves and we have shown we can discover, define and deliver.\u201d<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Spartan, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/records-keep-tumbling-spartan-resources-lands-more-strikes-with-massive-1093g-t-gold-hit-at-never-never\/\">\u2018Records keep tumbling\u2019: Spartan Resources lands more strikes with massive 1,093g\/t gold hit at Never Never<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Spartan Resources\u2019 drilling hits up to 1,093g\/t gold at company changing Never Never discovery New visible gold intercept ~110m below the current 721,200oz high-grade resource <a href=\"https:\/\/economicherald.net\/?p=1397\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":1398,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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