{"id":5113,"date":"2024-01-31T03:36:05","date_gmt":"2024-01-31T03:36:05","guid":{"rendered":"https:\/\/economicherald.net\/?p=5113"},"modified":"2024-01-31T03:36:05","modified_gmt":"2024-01-31T03:36:05","slug":"spartan-resources-serves-up-its-deepest-gold-hit-to-date-at-never-never","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=5113","title":{"rendered":"Spartan Resources serves up its deepest gold hit to date at Never Never"},"content":{"rendered":"<p>Spartan Resources\u2019 deepest assay returns significant intersection of high-grade gold<br \/>\nResults at bottom of Never Never resource indicates that high-grade mineralisation continues at depth<br \/>\nDrilling ongoing across Dalgaranga project with five rigs on site<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> Spartan Resources\u2019 deepest assay to date \u2013 16.65m @ 10.29g\/t gold from a downhole depth of 625.83m \u2013 has proved the mineralisation at its Never Never deposit maintains good widths and grades at depth.<\/strong><\/p>\n<p>The high-grade Never Never deposit, which hosts a <a href=\"https:\/\/url.avanan.click\/v2\/___https:\/stockhead.com.au\/resources\/spartan-checks-the-boxes-on-both-tonnage-and-grade-for-its-dalgaranga-gold-resource-upgrade\/___.YXAzOmVuLXNwcjphOm86ZTAwYzc5ODY2NzcwMTJkNTUyZWIyNDY2MjNkOTlkNzE6Njo4MzRiOjJmYzVkZjU1NGNiN2ZiOGM2MDIyZmNiZjRlMGFiMGYwMDIzNWM5ZDU4ZDBiOWVmNzI2M2Q5MmZkZGY3NTgyMTE6cDpU\"><strong>resource<\/strong><\/a> of 952,900oz @ 5.74g\/t gold, underpins the rapidly growing Dalgaranga Project resource endowment of 1.67Moz @ 2.49g\/t gold in front of SPR\u2019s Dalgaranga Process Plant, mothballed in late 2021.<\/p>\n<p>While its previous incarnation was forced to halt operations due to the challenge of making what was a sub-1.0g\/t gold resource from the nearby Gilbey\u2019s open pit profitable, the discovery of the high-grade Never Never Gold Deposit on the doorstep of the project\u2019s existing 2.5Mtpa carbon-in-leach processing facility is proving to be transformational.<\/p>\n<p>The rapid growth of Never Never since its discovery in late 2022 has certainly done wonders for <a href=\"https:\/\/url.avanan.click\/v2\/___https:\/stockhead.com.au\/company\/spartan-resources-spr\/___.YXAzOmVuLXNwcjphOm86ZTAwYzc5ODY2NzcwMTJkNTUyZWIyNDY2MjNkOTlkNzE6NjozYzcwOjU5MjE1MjRmYjhhYWU3YWFjNDk5ZmRhYzhhYjg4NjUyMWM3NmE0OGYwOWYxYzM0OWMwZTIyYmE3NTQ2Mzk0NGI6cDpU\"><strong>Spartan Resources\u2019 (ASX:SPR)<\/strong><\/a> share price, which has increased 350% to 45c since the end of March 2023.<\/p>\n<p><a href=\"https:\/\/url.avanan.click\/v2\/___https:\/stockhead.com.au\/resources\/spartan-dives-deeper-into-the-never-never-deposit-with-new-114g-t-gold-hit\/___.YXAzOmVuLXNwcjphOm86ZTAwYzc5ODY2NzcwMTJkNTUyZWIyNDY2MjNkOTlkNzE6Njo3NTk0Ojk1NGMwMThiYjg0NDM0ODdlYmNmYTk4NzJjMmI3ZTAyZWI0M2E5Zjk3NGJlMDUyNTI3MWM5YTY1MzE2NDE3YjA6cDpU\"><strong>Resource infill and extensional drilling<\/strong><\/a> carried out at Never Never in late 2023 also returned high-grade intersections such as 6.33m @ 33.72g\/t gold from 561.7m, including a bonanza zone of 1m @ 114g\/t gold.<\/p>\n<p>Drilling at the West Winds prospect, beneath the Gilbey\u2019s open pit, as well as the Sly Fox gold prospect\u00a0have also proved there are more ounces to be found.<\/p>\n<p>Long section of the Never Never deposit with assay information from deepest assay to date. Pic supplied (SPR)<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Deep, high-grade mineralisation<\/strong><\/h2>\n<p>SPR\u2019s deep drilling has now proved that high-grade mineralisation at Never Never maintains good widths and grades at depth, while the inferred area of the new resource boasts excellent potential for conversion to indicated in subsequent updates.<\/p>\n<p>The 16.65m intersection @10.29g\/t gold from 625.83m in hole DGRC1377-DT was returned from below the previously interpreted flexure zone, and very near the base of the Never Never resource estimate.<\/p>\n<p>It also reinforces the incredible gold endowment of Never Never and confirms the potential for continued high-grade resource growth as drilling systematically targets further extensions down-plunge, as well as wider afield.<\/p>\n<p>\u201cDGRC1377-DT is a highly significant hole and a great way to start the year,\u201d SPR managing director Simon Lawson said.<\/p>\n<p>\u201cApart from being the first assayed intercept for 2024, it is also the deepest assay result to date from Never Never and importantly is located below the flexure zone which we encountered in some of our deeper drilling late last year.<\/p>\n<p>\u201cThis flexure zone was the first time we had seen any structural disruption to this incredibly consistent, high-grade gold discovery \u2013 an area of apparent thinning and possible transposition of the orebody. We have now shown that beneath this zone of potential uncertainty, there is still a monster lurking.<\/p>\n<p>\u201cTo start the New Year with such an incredible intercept has given our team great confidence in our ability to continue growing this deposit at depth.\u201d<\/p>\n<p>Lawson adds the intercept at the very base of the Never Never orebody \u201cclearly\u201d shows the high-grade mineralisation continues at depth and demonstrates the \u201cincredible\u201d endowment and scale of the gold system at these depths.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Ongoing exploration points to more growth<\/strong><\/h2>\n<p>Five drill rigs are turning at Dalgaranga in a bid to uncover more potential.<\/p>\n<p>\u201cWe are seeing more Never-Never style mineralisation in the core on our racks, and if the thickness of mineralisation and high-grade assays seen in our first hole of the year can be repeated with follow-up holes either recently drilled or currently underway, then we have another massive year ahead for Spartan in 2024,\u201d Lawson said,<\/p>\n<p>\u201cOur Never Never MRE in December 2023 established a solid 952,900oz gold resource for this spectacular high-grade discovery.<\/p>\n<p>\u201cThe last assays from 2023 pointed towards the strong potential for Never Never to continue at depth and this first hole of 2024 illustrates that the wide high-grade intercepts continue and I\u2019m confident there is much more on the way.\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 Resources, 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\/spartan-resources-serves-up-its-deepest-gold-hit-to-date-at-never-never\/\">Spartan Resources serves up its deepest gold hit to date at Never Never<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Spartan Resources\u2019 deepest assay returns significant intersection of high-grade gold Results at bottom of Never Never resource indicates that high-grade mineralisation continues at depth Drilling <a href=\"https:\/\/economicherald.net\/?p=5113\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":5114,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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