Special Report: The deepest ever hole at Never Never has now hit +20m of mineralisation – including visible gold – from 1034m downhole.

The turnaround story of 2023, Spartan Resources (ASX:SPR), continues to surpass expectations in 2024.

Shallow, high grades and metallurgical simplicity at its game changing Never Never discovery at Dalgaranga, all within 2km of the processing plant, makes the deposit something special, analysts say.

Now you can also add size to that list.

Assays are pending for an intercept ~400m down plunge of the 952,000oz Never Never resource, and 245m down plunge of drill-hole DGDH052, which returned a top 3 all-time Never Never intercept of 11.55m at 36.77g/t gold.

 

The Never Never gold deposit illustrating the location of the deepest ever hit (DGDH064) with reference to the current 952koz resource … and the Burj Khalifa. Pic: SPR

 

SPR boss Simon Lawson says the latest drilling results reinforce the remarkable scale, endowment and grade of the Never Never deposit.

“We are confident this latest intercept takes the consistent down-plunge extent of Never Never mineralisation beyond 1000m vertical depth, more than 1250m down-plunge and, most importantly, extends the mineralisation to more than 400m below the existing 952,000oz high-grade mineral resource,” he says.

“The Spartan investment proposition continues to strengthen with each drill-hole.

“DGDH064 was drilled into an area that we expect to be mining many years in the future and provides further clear evidence of the sheer scale and endowment of the deposit.

“While it’s safe to say this is the deepest drill-hole we will be drilling from surface for the time being, we’re absolutely delighted to see a plus-20-metre down-hole intercept of typical Never Never-style mineralisation with visible gold logged in two areas.”

 

Resource updates incoming

SPR currently has five rigs on site.

Three are focused on infill drilling to increase confidence in the Never Never resource, as well as resource growth and exploration drilling.

New results from this drilling within the resource shell include 12.54m at 14.32g/t gold from 570.91m (including 2.52m at 67.49g/t).

Another rig is being used for resource definition drilling at the nearby Four Pillars and West Winds Gold prospects and Sly Fox gold deposit.

New results from Sly Fox mean SPR has “essentially doubled the strike length of mineralisation … with just a couple of holes”, says Lawson.

Results include 23.60m at 2.45g/t gold from 457.40m, 90m away from the existing resource.

A smaller aircore rig will also test a bunch of juicy greenfields targets north of Never Never.

SPR says resource updates are due mid-year.

 

 

 

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

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