Spartan Resources (ASX:SPR) upgraded its resource estimate for the Dalgaranga gold project in Western Australia by 47% to 16.1 million tonnes at 4.8 grams per tonne (g/t) of gold for 2.5 million ounces.
This was boosted by growth at the Never Never deposit, which hosts 5.7 million tonnes at about 8.1 g/t of gold for 1.5 million ounces, and a maiden resource estimate of 1.8 million tonnes at roughly 7.7 g/t of gold for 438,100 ounces at the Pepper gold deposit, according to a Thursday filing with the Australian bourse.
The company is accelerating exploration at Dalgaranga with the construction of the Juniper Decline drill drive that will target deeper extents of high-grade mineralization and plans of more than 95 kilometers of drilling in 2025.
Shares of Spartan Resources rose almost 2% in recent Thursday trade.
Price (AUD): $1.47, Change: $+0.022, Percent Change: +1.52%
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