Spartan Resources Claims New High-Grade Gold Discovery
THE DRILL SERGEANT: Spartan Resources (ASX: SPR) has claimed discovery of a new high-grade gold lode at the company’s 100 per cent-owned Dalgaranga gold project in the Murchison region of Western Australia.
Spartan Resources made the discover immediately south of its 952,000 ounces Never Never gold deposit.
The new lode, named the Pepper gold prospect, sits approximately 90 metres south of the previous southernmost intercept at Never Never and all current conceptual underground development designs for future underground drilling and potential extraction of high-grade Never Never gold mineralisation pass by the new high-grade Pepper discovery position.
The company noted the discovery intercept of 17.52m at 15.86 grams per tonne gold, including 9.22m at 27.89g/t gold, comprises typical Never Never-style mineralisation with similar grades and mineralogical characteristics.
“The discovery of the new high-grade Pepper gold prospect, located directly between Never Never and Four Pillars, is yet another game-changer for the Dalgaranga gold project,” Spartan Resources managing director and CEO Simon Lawson said in the company’s ASX announcement.
“The core from the discovery hole DGRC1432-DT shows the same thick, heavily-altered volcaniclastic host-rock, orientation and mineralisation style as Never Never and the gold grades are consistent across the entire intercept and of an impressive tenor, to this point only seen elsewhere at Never Never.
“Think of fold shoots as linear folds like those on a corrugated iron roofing sheet.
“The sheet represents the north-striking steeply west-dipping volcaniclastic rock package at Dalgaranga.
“East-west shears regularly cross-cut the sheet, creating corrugations or fold shoots.
“The troughs of the folds host steeply plunging high-grade gold mineralisation while the ridges between host lower-grade gold mine.”
Spartan has drilled several follow-up holes up-dip from DGRC1432-DT which have intersected the same style of mineralisation, from which it awaits assays.
“The potential to add further high-grade ounces in close proximity to planned future infrastructure through discoveries like this is central to our strategy and investment proposition – and demonstrates clearly why we think there is so much more upside in what is turning out to be a truly remarkable gold system at Dalgaranga!” Lawson said.
TO READ THE FULL ANNOUNCEMENT: CLICK HERE