{"id":5803,"date":"2024-02-14T00:37:13","date_gmt":"2024-02-14T00:37:13","guid":{"rendered":"https:\/\/economicherald.net\/?p=5803"},"modified":"2024-02-14T00:37:13","modified_gmt":"2024-02-14T00:37:13","slug":"spartans-drilling-to-de-risk-strategy-reveals-visible-gold-logged-170m-below-952000oz-never-never-deposit","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=5803","title":{"rendered":"Spartan\u2019s \u2018drilling to de-risk strategy\u2019 reveals visible gold logged 170m below 952,000oz Never Never deposit"},"content":{"rendered":"<p>Metallurgical drill hole DGR1396 returns 170m @ 41.3g\/t from surface\u00a0<br \/>\nFour Pillars and West Winds continue to yield wide drill intersections\u00a0<br \/>\nFive drill rigs continue at Dalgaranga targeting further growth in the resource\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><em>Special Report<\/em>: Resurgent gold explorer Spartan Resources is targeting rapid resource growth by mid-2024 as recent drilling highlights 20.5m of \u2018Never Never\u2019 style mineralisation logged 871.5m down-hole in further proof the mineralisation extends at depth.\u00a0<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/spartan-resources-spr\/\"><span>Spartan Resources (ASX:SPR)<\/span><\/a><span> appears well on its way to achieving its \u2018drill and de-risk\u2019 strategy at the Dalgaranga project in 2024, as ongoing drilling returned <\/span><a href=\"https:\/\/stockhead.com.au\/resources\/spartan-resources-serves-up-its-deepest-gold-hit-to-date-at-never-never\/\"><span>its deepest gold hit to date \u2013 16.65m @10.29 g\/t \u2013 in late January.<\/span><\/a><span>\u00a0<\/span><\/p>\n<p><span>The stunning drilling results delivered throughout 2023 have continue to roll in this year with the latest batch of hits including significant intersections from resource in-fill and metallurgical test work.\u00a0<\/span><\/p>\n<p><span>Around 20.5m of \u2018Never Never\u2019 style mineralisation has been logged from 871.5m down hole, including small specs of visible gold logged at 878.7m down hole, more than\u00a0 <\/span><span>170m below the current 952,000oz resource, highlighting the growth potential at the deposit.\u00a0<\/span><\/p>\n<p><span>A 25.17m intersection @ 6.59g\/t gold from a downhole depth of 448.3m, including 7.5m @ 13.52g\/t gold, de-risks a key area of high metal content in the resource estimate.<\/span><\/p>\n<p><span>SPR looks to convert more than 85% of the current resource to indicated classification.\u00a0<\/span><\/p>\n<p><span>Other Never Never assays including 170m @ 4.13g\/t gold from surface, drilled at 75 degrees dip down-plunge through the Never Never orebody.\u00a0<\/span><\/p>\n<p><span>Over at Sly Fox \u2013 the highest-grade gold prospect at Dalgaranga before the game-changing Never Never discovery \u2013 results returned 23.83m @ 2.44g\/t gold, including 5m @ 5.23g\/t from near the very base of the declared resource, validating it as a legitimate priority target for 2024.\u00a0<\/span><\/p>\n<p>\u00a0<\/p>\n<h2>\u2018Crucial information\u2019 for ore reserve and feasibility work\u00a0<\/h2>\n<p><span>\u201cThis drilling is designed to provide increased grade, volume and metal content confidence to the Spartan engineering team,\u201d SPR managing director and CEO Simon Lawson says.\u00a0<\/span><\/p>\n<p><span>\u201cSo far, the program is yielding crucial information for our ongoing ore reserve and feasibility study work.\u00a0<\/span><\/p>\n<p><span>\u201cA recent example is metallurgical drill-hole DGRC1396, drilled inside the Never Never gold deposit resource and potential open pit, which returned a spectacular gold assay of 170m @ 4.13g\/t from surface to the footwall contact,\u201d he says.\u00a0<\/span><\/p>\n<p><span>\u201cThis result, while not useful in a resource estimation sense due to its sub-vertical drill angle, gives a useful insight into the down-plunge gold grade variability through any number of open-pit to underground design scenarios for the Never Never gold deposit.\u201d\u00a0<\/span><\/p>\n<p>\u00a0<\/p>\n<h2>Onwards and upwards\u00a0<\/h2>\n<p><span>SPR has a full set of priority drill targets for 2024 and believes it will continue to grow the potential value of existing assets as drilling continues.\u00a0<\/span><\/p>\n<p><span>Five rigs are currently operating at Dalgaranga, targeting further growth in the high-grade resource within 2km of the existing 2.5Mtpa plant and infrastructure.\u00a0<\/span><\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span><span>\u00a0<\/span><\/p>\n<p><span>This article was developed in collaboration with Spartan Resources, a Stockhead advertiser at the time of publishing.\u00a0<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/span><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/spartans-drilling-to-de-risk-strategy-reveals-visible-gold-logged-170m-below-952000oz-never-never-deposit\/\">Spartan\u2019s \u2018drilling to de-risk strategy\u2019 reveals visible gold logged 170m below 952,000oz Never Never deposit<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Metallurgical drill hole DGR1396 returns 170m @ 41.3g\/t from surface\u00a0 Four Pillars and West Winds continue to yield wide drill intersections\u00a0 Five drill rigs continue <a href=\"https:\/\/economicherald.net\/?p=5803\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":5804,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5803","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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