Spartan has more than one gold project in its army with drilling returning up to 4m at 91.9g/t gold at the Egerton project. Pic: rudall30 via Getty Images.
Mining
Drilling at Spartan’s non-core Glenburgh and Egerton gold projects in WA’s Gascoyne region has returned high-grade intercepts which highlight the quality of its portfolio outside of the flagship Dalgaranga project.
Glenburgh is about 320km north of the Dalgaranga flagship, while Egerton is 165km east of Glenburgh, placing it within economic haulage distance to supply high grade ore to a base load processing plant at Glenburgh.
Collectively, the Gascoyne regional project has a current resource of 16.75Mt grading 1.01 grams per tonne (g/t) gold, or 537,000oz of contained gold, most of which is currently contained at Glenburgh (510,100oz of gold).
Recent drilling at Glenburgh by Spartan Resources (ASX:SPR) returned high-grade gold intercepts from the Zone 126 deposit with outstanding potential to continue to extend the mineralisation along strike.
Egerton is known to host the Hibernian and Gaffney’s Find deposits within granted mining leases.
Previous drilling at Hibernian has returned a top result of 14m grading 71.7g/t gold.Despite this, the 15km long Hibernian Shear has seen very little effective exploration including areas under 1-5m of transported cover.
Resource extension drilling at the high-grade Zone 126 gold deposit within Glenburgh has now returned more high grade hits such as:
Meanwhile, exploration drilling at the Hibernian West target, located 0.5km west along-strike from the 27,000oz Hibernian gold deposit returned a 4m intercept at a stunning 91.9g/t gold from 36m.
Adding further interest, drilling at the Mako target about 2.8km east along strike from Hibernian returned a 17m intercept at 5.85g/t gold including 2m at 19.58g/t gold.
“Our team has been very successful in finding and defining high-grade gold deposits and delivering some of the best drill intercepts seen in recent times at our flagship Dalgaranga gold project,” managing director Simon Lawson said.
“This work has resulted in the discovery of the high-grade Never Never gold deposit and other emerging high-grade gold prospects along-trend, all within a 2km radius of our 2.5Mtpa processing plant.
“With our discovery momentum now well-established at Dalgaranga, the team has had the opportunity to progress other emerging high-grade gold opportunities within our portfolio.
“I am very pleased to present assays that continue this high-grade theme with some impressive drill intercepts at both of our non-core Glenburgh and Egerton gold projects, which make up our Gascoyne region gold project.
“While these projects are non-core given our concerted focus on building the high-grade gold ounce inventory in front of our process plant at Dalgaranga, we have had to complete some drilling on them to maintain them in good standing over the past 12 months.”
Spartan recently expanded its drill program at Dalgaranga by 7,000m to 32,000m and added two rig, bringing the fleet carrying out the program up to six rigs.
The accelerated diamond drill program will test multiple high-grade targets, including Never Never, Four Pillars and West Winds while a dedicated RC rig will carry out a 1,500m follow-up program at the new Patient Wolf prospect.
This drilling is aimed at delivering a resource upgrade in Q4 2023, which is expected to grow its high-grade resource inventory within a 2km radius of the 2.5Mtpa Dalgaranga process plant.
This article was developed in collaboration with Spartan Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
