Gold explorer Spartan Resources has discovered visible gold 170m below the 952,000-ounce Never Never deposit.
The Never Never deposit is part of Spartan Resources’ flagship Dalgaranga gold project located 475km north-east of Perth and about 65km north-west of Mount Magnet in Western Australia.
The company said the 20.5m of “typical” Never Never-style mineralisation was logged from a 871.5m down-hole that included small specs of visible gold logged at 878.7m down-hole.
Additional new Never Never assay results include 17m at 6.59 grams per tonne (g/t) of gold from a 448.3m down-hole.
Spartan managing director and chief executive officer Simon Lawson said the company’s strategy for 2024 is simple: “drill and de-risk”.
“Drilling at the key high-grade Never Never gold deposit is targeting more rapid high-grade resource growth by mid-2024, and with our first deep hole already hitting more than 20m of typical highly silicified and altered Never-Never-style mineralisation at 878m down-hole, including specs of visible gold, I’d say we’re already well on the way towards achieving that objective,” Lawson said.
“We are also drilling to de-risk Never Never by targeting conversion of more than 85 per cent of the current MRE (mineral resource estimate) ounces to indicated classification. This drilling is designed to provide increased grade, volume and metal content confidence to the Spartan engineering team.
“Our drilling and de-risking includes ongoing metallurgical test-work from drill-holes designed and drilled specifically for this purpose. This drilling is yielding crucial information for our ongoing ore reserve and feasibility study work.”
Spartan’s strategy is to drill and de-risk its assets by increasing geological confidence and orebody knowledge.
“As we continue this process, we not only grow the potential value of our existing high-grade gold assets in front of our 100 per cent owned process plant and infrastructure, we also increase confidence in and de-risk the Spartan investment proposition for all our shareholders,” Lawson said.
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