SPR 1.09% 93.0¢ spartan resources limited

Golden wings..?

  1. 11,751 Posts.
    lightbulb Created with Sketch. 6244
    So while I could ponder all things T/O.... in regards to the speculation around Tembo and $1 (for better or worse, a blocking stake of 15% is now available for $1.00... so this could prove a target to the upside, but also.. a cap perhaps?), but... I would rather ponder Golden Wings...

    It feels like only yesterday that SPR (GCY) acquired Dalgaranga (ok... it was back in 2012) for a princely sum of approx $2.2m.

    https://hotcopper.com.au/data/attachments/6196/6196532-fffd871f69a6fa9416cfc0aadca6daeb.jpg
    As a GCY holder, I was excited, for a pittance, GCY had acquired a project that had a mining lease, had already produced 200k+ ounces and had ready targets for drilling (though to be clear, I still preferred Glenburgh! ha).

    Dalgaranga was lightly drilled and arguably, still is, and yes.... Gilbey's North sticks out like a sore thumb.

    https://hotcopper.com.au/data/attachments/6196/6196540-76e1c6bdbde3185fc96f64f68f7ad992.jpg

    Without a doubt, I can understand why they went after Golden Wings first.... but yes, hindsight is wonderful.
    There were lots of other targets too. Plus for interests sake, I have shown where the old plant was located.

    https://hotcopper.com.au/data/attachments/6196/6196557-d77e638283f14aca4957a93540887f3a.jpg
    This was how they understood golden wings.... though interestingly, it underperformed badly when they finally mined it... and up until it was mined, the grades kept getting lowered.... perhaps a misunderstanding of the mineralization?

    https://hotcopper.com.au/data/attachments/6196/6196562-2faafda4e234fc388755ec6e48d765b6.jpg
    https://hotcopper.com.au/data/attachments/6196/6196565-512c67c14d84b9e29a37c9475b8d1877.jpg
    https://hotcopper.com.au/data/attachments/6196/6196572-9be2703dbd28cea8b8615f4da9c2ff3d.jpg

    Cheers for the SAM survey @Joelstar - so interesting when compared to what GCY worked off right until the end (the black circled areas were the main drill targets back in 2014-2018), but before SL took the reigns (they tried for Tanguery etc). Crazy that Never Never sort of shows up in yellow+orange.

    https://hotcopper.com.au/data/attachments/6196/6196585-dd8b151628fa4c8acee692a2bcfc6c0b.jpg

    I just wonder... is there something underneath golden wings, like Gilbey's North? Not that they have mentioned drilling under Golden Wings, but I believe the drilling is limited to a bit over 100m.

    https://hotcopper.com.au/data/attachments/6196/6196586-6624a788167ff40ed63e853f17591d87.jpg

    Anyway, just keeps me wondering what else is within the mining lease, let alone within the entire belt...
 
watchlist Created with Sketch. Add SPR (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.