Spartan Initiates Significant Expansion Drilling at Premier Dalgaranga Gold Project

January 23, 2025 11:00 AM AEDT | By Team Kalkine Media

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Spartan Initiates Significant Expansion Drilling at Premier Dalgaranga Gold Project — Image source: shutterstock

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Highlights:

Spartan Resources is undertaking a large drilling program to enhance its resource base at Dalgaranga.

The company aims for a significant resource update targeting mid-2025.

Recent drilling results suggest promising expansion opportunities across multiple prospects.

Spartan Resources (ASX:SPR) is pushing forward with an extensive surface and underground drilling program at its Dalgaranga gold project, aiming to boost both the scale and confidence in its existing 2.87 million-ounce resource. The campaign covers approximately 85,000 meters and targets a variety of prospects including Freak, Sly Fox, Never Never, Pepper, Four Pillars, and West Winds.

The company's strategic pause in operations last year allowed it to focus on the highly lucrative Never Never deposit, which is situated less than a kilometer from its 2.5Mtpa processing facility. This strategic drilling effort revealed a substantial resource of 1.49 million ounces with a grade exceeding 8 grams per tonne, elevating Spartan’s market value considerably, and enhancing its attractiveness as a takeover target.

With gold prices remaining strong, currently exceeding $4,400 per ounce, Spartan has set its sights on expanding the Dalgaranga project's resource base further. The company aims to rival the nearby 6-million-ounce Mt Magnet field, operated by major shareholder Ramelius Resources (ASX:RMS).

The enhanced drilling initiatives include 20,000 meters of surface drilling that has already commenced at key sites such as Freak and Sly Fox. This will be complemented by 65,000 meters of underground drilling slated for early next year, engaging with several deposits including Never Never and Pepper.

Following the strategic drilling campaign, the firm plans to release an updated project-wide Mineral Resource Estimate (MRE) by mid-2025. Preliminary indications from recent assays are promising, with significant intercepts being recorded at Freak and Pepper, potentially extending the known resource envelope.

In anticipation of a possible restart of mining operations at Dalgaranga, planning activities for extending the Juniper Decline are underway. This strategic move is aimed at securing initial access to ore zones, pending a final investment decision on resuming production.

This ambitious program signals Spartan Resources' determination to leverage high gold prices and affirm Dalgaranga as one of Australia's premier high-grade gold operations.

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