Spartan Resources Strikes More High-Grade Gold at Dalgaranga Project

Spartan Resources Managing Director and CEO, Simon Lawson, commented: “Our recent exploration updates show that our aggressive drilling strategy is continuing to deliver on its key objectives – growing our high-grade resource inventory while at the same time making new high-grade discoveries.”

“We keep applying drill pressure to good geology – and the results continue to demonstrate the enormous potential of the broader Gilbey’s mineral system, which now contains multiple high-grade, steeply plunging deposits and emerging prospects along an 800m corridor running from north to south.

“The latest results also reinforce the compelling logic behind the proposed development of our underground exploration drill drive. This critical piece of infrastructure will be another game-changer for the Spartan team as it will significantly increase our resource growth and future reserve generation efforts by using more cost effective, more accurate and faster underground drilling methods from platforms located closer to our existing high-grade targets.”

The company is planning to develop a fully-funded exploration drill drive parallel and adjacent to the mineralised horizon to provide underground drill platforms for more effective definition of existing targets and exploration for further high-grade shoots. Subject to receiving final regulatory approvals, mining of the underground drill drive is set to commence in the second half of 2024, with diamond drilling designed to follow development as it progresses north and south.

Gold is a precious metal that is widely used in jewelry, electronics, and as a store of value. The demand for gold is expected to remain strong, driven by its status as a safe-haven asset during times of economic and geopolitical uncertainty and its increasing use in technology. Spartan Resources, with its high-grade gold projects, is well-positioned to potentially capitalize on this growing demand.

The high-grade gold assay results from the Dalgaranga Gold Project underscore the project’s growing potential. As the company continues to advance its exploration and development efforts, investors will be keenly watching its progress in unlocking the full potential of this exciting gold project.