Published On: February 1st, 2024
In a significant development that marks a new era for Spartan Resources Limited (ASX: SPR), the company has proudly disclosed its most substantial gold find at the Never Never deposit.
This rich gold find, with 952,900oz at a high quality of 5.74g/t, is a vital part of the Dalgaranga Project, which has grown to have 1.67Moz with an average concentration of 2.49g/t gold. This deposit is located near Spartan’s Dalgaranga Processing Plant, which was shut down nearly three years ago.
The discovery and development of the Never Never deposit marks a significant achievement for Spartan Resources (ASX: SPR) and the Dalgaranga Project. With the company’s ongoing successful exploration efforts, Spartan is on the verge of a promising year in 2024, set to uncover even more value from this high-grade gold deposit.
Although the exploration of Never Never is just beginning, early results suggest it could significantly change the scope and prospects of gold mining at Dalgaranga.
Spartan Resources ASX: A Rising Contender in Gold Exploration and Development
Spartan Resources is pursuing its flagship Dalgaranga Gold Project, 65 kilometres northwest of Mt Magnet in Western Australia’s Murchison Region. With a market capitalisation of AUD453,697,179, it ranks 465th among ASX-listed companies and 77th within the gold sector.
Recent performance showcases a significant 15% increase in value over the past week, shedding light on Spartan Resources’ strong potential and focused exploration and development efforts in high-grade gold.
Never Never Gold Deposit: A Golden Find Indeed!
The strategic uncovering of the Never Never Gold Deposit, situated close to the project’s 2.5Mtpa carbon-in-leach processing infrastructure, signals the onset of a golden period for Spartan Resources ASX.
Never Never gold deposit is a striking high-grade gold find distinguished from other deposits due to its unique geological characteristics. It presents significant opportunities owing to its mineralogy and structural complexity, indicating a new phase in the company’s operational and expansion strategy.
Fundamentally, Spartan’s robust portfolio with core assets like Dalgaranga operations and high-potential projects like Never Never signifies a conducive environment for the company to thrive and accentuate a strong future in gold mining endeavours.
The company’s recent venture at Never Never has yielded spectacular outcomes, including an extraordinary intersection of 6.33 meters at 33.72g/t gold from a depth of 561.7 meters. This includes a phenomenal bonanza zone featuring 1 meter at 114g/t gold.
A Future Shaped by an Avant-garde Leadership
Spartan Resources continues to work relentlessly to discover deposits with exceptional gold mining potential similar to the notable Never Never.
Simon Lawson, the Managing Director of Spartan Resources ASX, highlighted the company’s ambitious exploration roadmap, noting that if the high-grade assays and substantial mineralisation observed in this year’s first drill hole continue, Spartan is assured of an outstanding year in 2024.
Mr. Lawson is a seasoned geoscientist with over 16 years of extensive operational experience across various commodities and international jurisdictions. He has made remarkable contributions in several high-profile projects, demonstrating an unmatched expertise in geoscience.
Under his leadership, the company is ready to reach unprecedented levels of success. His strategic approach and vision for exploring untapped potential indicate a promising future for the company, thus setting it on a trajectory to achieve new heights in the industry.