Spartan Resources (ASX:SPR) has reported significant progress in its September 2024 quarterly update, driven by a major upgrade in resources at the Dalgaranga Gold Project.
The updated Mineral Resource Estimate (MRE) showed a 47% increase in contained ounces, bringing the total to 2.48 million ounces at an impressive grade of 4.79g/t gold.
This marks a pivotal shift toward high-grade underground mining at Dalgaranga.
The Never Never deposit, which now holds 1.485 million ounces at a grade of 8.07g/t, contributed heavily to the resource growth, alongside the newly discovered Pepper deposit with 0.438 million ounces at 7.66g/t. Notable drill results included a standout intercept of 27.01 meters at 39.15g/t gold from the Pepper deposit, further solidifying Dalgaranga's high-grade potential.
Simon Lawson, Spartan’s Interim Executive Chair, commented, “This MRE upgrade has provided a solid foundation for our next phase of growth, and with the Pepper and Never Never deposits showing exceptional results, we're optimistic about the belt-scale potential at Dalgaranga.”
SPR Price at posting:
$1.46 Sentiment: None Disclosure: Held
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.
(20min delay)