Spartan Resources (ASX:SPR) has received initial assay results from the new phase of surface diamond drilling, delivering a new record drill hit from the Pepper gold deposit, within the Dalgaranga Gold Project in Western Australia.
New assay results include drillhole DGDH074 with 27.01m @ 39.15 grams per tonne (g/t) gold from 606.74m, including 5.11m @ 121.35g/t gold and 7.5m @ 50.72g/t gold.
Spartan Resources, which has a market capitalisation of $1.48 billion, says these results confirm very consistent “high-grade” gold mineralisation between the initial discovery and definition intercepts used in the July 2024 inferred resource estimate.
Interim executive Chairman Simon Lawson says since discovery, Pepper has returned some of the “best” drill intercepts seen at Dalgaranga.
“These latest intercepts, DGDH074 and DGDH074-W1 are important infill holes targeting conversion if inferred to higher confidence indicated resource classification, but also rank number one and four all-time for the Dalgaranga Gold Project.
“Our focused push for indicated ounces at Pepper with two dedicated diamond drill rigs is aimed at delineating additional higher confidence ounces for conversion to ore reserves, as we work towards our Pre-Feasibility Study and final investment decision (FID) targets.”
Lawson adds that Pepper’s ounces supplement those defined at the Never Never deposit and will further strengthen the company’s goal to establish a long-life, sustainable, and profitable mine plan for Dalgaranga
The Pepper deposit currently has a resource estimate totalling 438,000 ounces at 7.66g/t gold.
Write to Aaliyah Rogan at Mining.com.au
Images: Spartan Resources
