Home » Uncovering Gold: A Journey to 1km Deep below the Never Never Deposit

Uncovering Gold: A Journey to 1km Deep below the Never Never Deposit

by Dubaiforum

Special Report: Spartan Resources, a mining company listed on the ASX (ASX:SPR), has hit a significant milestone at its Never Never discovery located near Dalgaranga. The company has successfully drilled the deepest hole at the site, reaching over 20 meters of mineralization, including visible gold, from a depth of 1034 meters.

Analysts believe that the shallow, high grades, and metallurgical simplicity of the Never Never deposit, which is located within 2km of the processing plant, make it a unique and valuable asset for Spartan Resources. The company’s turnaround story in 2023 has continued to exceed expectations in 2024, with promising results from ongoing drilling activities.

Spartan Resources CEO, Simon Lawson, expressed confidence in the latest drilling results, highlighting the scale, endowment, and grade of the Never Never deposit. He emphasized the significance of a recent intercept, which extends the mineralization to more than 400m below the existing high-grade mineral resource of 952,000 ounces.

The company currently has five rigs on site, with a focus on infill drilling to increase confidence in the resource, resource growth, and exploration activities. Results from recent drilling include impressive intercepts, such as 12.54m at 14.32g/t gold, indicating the potential for resource expansion.

Additionally, resource updates are expected to be released later this year, providing further insights into the company’s growth prospects. Spartan Resources continues to strengthen its investment proposition with each successful drill hole, showcasing the potential of the Never Never deposit and its surrounding prospects.

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