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%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.