Spartan Resources has announced a significant update to the mineral resource estimate (MRE) for its Dalgaranga gold project in WA.
“This MRE update firmly cements its position as an exceptional high-grade deposit, comprising an underground resource of 1.44 million ounces (Moz) at a grade of nine grams per tonne (g/t) gold,” Spartan managing director and chief executive officer Simon Lawson said.
Lawson highlighted the update’s importance to the company’s standing in the mining sector.
“The delivery of this landmark MRE update is a pivotal moment in our journey and firmly stamps the high-grade Spartan brand on our key project at Dalgaranga,” he said.
“The Spartan team has taken the pieces of a struggling low-grade open-pit gold miner and rebuilt it as a highly successful high-grade exploration, discovery and development machine.”
Lawson said since its recapitalisation in February 2023, Spartan has established itself as a highly investable gold mining and development company, consistently delivering value to shareholders.
“Since its discovery in mid-2022, the high-grade Never Never gold deposit has consistently delivered some of the most eye-catching drill intercepts seen in the Australian gold sector in many years,” he said.
Lawson said the company was able to achieve the new results through a rigorous and effective drilling strategy, combined with the team’s extensive experience in interpreting, modelling, and estimating high-grade gold resources.
“This resource will underpin our maiden underground ore reserve, which is currently underway and due for delivery in the second half of 2024,” Lawson said.
In addition to the Never Never gold deposit, Spartan recently announced the discovery of the high-grade Pepper gold deposit. Situated adjacent to Never Never, Pepper has contributed a maiden high-grade underground inferred mineral resource of 0.43Moz at 7.66 g/t gold.
Lawson said this new discovery, given its close proximity to the development of the Never Never deposit, has become the drill team’s top priority for in-fill and extensional drilling throughout the second half of 2024.
“The combined underground MRE for Never Never and Pepper stands at 1.8Moz at 8.65 g/t gold,” he said.
The Dalgaranga gold project’s mineral resource estimate now stands at 16.1Mt at 4.79 g/t gold. This represents a 90 per cent increase in grade and a 45 per cent increase in ounces from the previous estimate.
“Our journey has just begun, and we are looking forward to seeing what our team can deliver once the drill drive is in place,” Lawson said.
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