Australia's largest stock trading and investment forum Australia's #1 stock forum

SPR spartan resources limited

0.00%

$2.13

Ann: More strong drill hits across key prospects, page-75

First 75 Last

Share
Profile

Follow
RooBendigo

986 Posts.

458

22/03/24

21:46

Post #: 73021173
Share

Originally posted by calmbeforestorm: ↑

I have looked at actual and planned drill holes for the current program based on announcements to date this year and the results are:

NN within MRE - planned 9 holes and have completed 11 to date including 1 abandoned holes and have 2 more planned holes = total 13 (6 holes returned with assays to date excluding the abandoned hole)
NN - outside MRE (I have included the holes outside the side of the MRE here but could have included them inside the MRE) - planned 5, drilled 7 to date with another 3 planned - total holes 10 (3 holes returned with assays to date)
NN - planed 16 drilled or planned 23 holes (1 abandoned ) - 6 assays returned + 1 abandoned

Applecross - planed 6 holes, drilled 6 holes and 6 holes returned with assays - not much success here.

WW - planned 7 holes, drilled 3 holes, 3 holes planned (1 assay returned) - total drilled to date 6 holes
SF - 12 holes planned, 3 holes drilled (1 assay returned) - total drilled to date 3, no details of planned holes.

1 hole with assays returned included as a NN hole (no idea where it is on the image) while in the drill hole details its classed as a Gilbey's hole.

No details of holes drilled, if any, between NN and 4P.

Observations:
At NN it appears they have decided to drill more holes than they planned, maybe about 50% more holes. It is not clear if they are going to drill more than 23 holes drilled or planned to date. While I am speculating it seems the deep hole 170m below the MRE (hole 52) resulted in them increasing the number of holes to drill outside the MRE (ie 10 instead of 5 and maybe more to come) - this suggests we will see a good increase in the MRE for NN by June and also a more significant increase in the indicated category.

One planned hole is below hole 52 that returned very high grade gold 170m below MRE - this planned deep hole looks like about 50m or so (bit hard to tell how far below it is) below hole 52.

No idea what they are doing with SF - bit of a mystery with 2 holes with no assays indicating mineralisation similar to NN with good and very good widths and then the delay due to QAQC. We will find out more at the next announcement.

Applecross - looks like the drill campaign did not result in anything significant to assist SPR understand the deposit.

WW - part way through drilling program.

Overall it bodes well for an updated NN resource mid-year and too early to tell for WW. Status of SF and holes between 4P and NN are a complete mystery at this stage - watch this space!

Expand

Nick Jolly on Linkedin responded to a mining pages post about tips for core logging in gold exploration. His comment was "pay for experience".

Made me wonder if the SF logging problem was just what it seems at face value ... they discovered some unreliable work and are doing it again. I really wanted the delay to be somehow connected to a high grade hit ...

SPR Price at posting: 58.0¢ Sentiment: Hold Disclosure: Held
5 Upvote

0 Great analysis

Reply

Top Stories

MQR

'We're extremely encouraged': Marquee expands footprint at Mt Clement

Oz will likely unveil commodity price supports, but don't expect Trumpian flare

ASX Market Close: Health Care stocks lead index lower | August 7, 2025

LTR

Liontown locks in $266M placement to help cashflow, Kathleen Valley ramp-up

Thursday's HotCopper trends: $266M LTR placement, Trigg expansion | Aug 7

First 75 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Ann: More strong drill hits across key prospects, page-75

Top Stories

'We're extremely encouraged': Marquee expands footprint at Mt Clement

Oz will likely unveil commodity price supports, but don't expect Trumpian flare

ASX Market Close: Health Care stocks lead index lower | August 7, 2025

Liontown locks in $266M placement to help cashflow, Kathleen Valley ramp-up

Thursday's HotCopper trends: $266M LTR placement, Trigg expansion | Aug 7

Featured News