Building on its exploration and drilling success of 2023, which resulted in a 1.67Moz @ 2.49g/t gold resource, Spartan Resources (ASX:SPR) has kicked off the new year with four drill rigs spinning and more on the way.
The last round of assays from 2023 includes high-grade intersections from resource infill and extensional drilling at the Never Never deposit, such as:
- 6.33m @ 33.72g/t gold from 561.7m, including a bonanza zone of 1m @ 114g/t gold;
- 3.27m @ 8.80g/t gold from 450m; and
- 8m @ 4.09g/t gold from 507m including 2m @ 7.36g/t gold.
Results from drilling at the West Winds prospect, beneath the Gilbey’s open pit, as well as results from the Sly Fox gold prospect – the highest grade gold prospect prior to the discovery of Never Never – have also been received and include:
- 16m @ 2.14g/t gold from 207m;
- 19m @ 2.65g/t gold from 33m, including 1m @ 28.84g/t gold; and
- 9m @ 2.67g/t gold from 228m.
SPR managing director and CEO Simon Lawson says 2024 is already shaping up as another successful year for the company, with the latest results indicating Never Never is still very much open and broadening at depth.
“One of our wedge holes, DGRC1305-W1, returned 6m @ 33.72g/t gold showing good signs of a high-grade plunging shoot beneath the flexure zone,” he says.
“Over 150m further south and along-strike from that wedge hole, DGRC1357 intercepted 8m @ 4.09g/t, including 2m @ 7.63g/t gold, giving us a lot of confidence in increasing the ounces per vertical metre.
“This gives us a really good understanding of the potential strike length of ore drives into high-grade gold mineralisation as we go deeper at Never Never.”
SPR has formulated a strong plan for exploration and growth for 2024 and will release an investor presentation in the coming weeks to outline that strategy.
“We also see exciting potential to the south of Never Never towards the northern end of the Gilbey’s/Four Pillars mineralisation and we will be drilling this area intensively during 2024,” Lawson says.
