Spartan Resources’ Pepper gold deposit in Western Australia has had its indicated resource increased by 71 per cent, a feat Spartan is crediting to its exploration success in 2024.
Interim executive chair Simon Lawson said the result was “exceptional” and a credit to the team.
“In the space of less than six months since we posted our maiden inferred resource for Pepper of 438,100 ounces (oz) at 7.66 grams per tonne (g/t), the drilling success we have achieved has translated into a phenomenal 99 per cent increase in ounces and 35 per cent in grade,” Lawson said.
“The new high-grade Pepper mineral resource estimate of 2.64 million tonnes grading 10.31g/t gold for 873,400oz is a truly remarkable result, particularly considering that 88 per cent is now classified at the higher confidence indicated level at a spectacular grade of 12.18g/t.
“This provides unequivocal evidence of the exceptional endowment of this spectacular high-grade gold system.”
The Pepper deposit is part of the wider Dalgaranga gold project, Spartan’s flagship operation.
“These indicated ounces will now underpin our mine scheduling work and feasibility studies, which are well progressed,” Lawson said.
The Pepper and nearby Never Never deposit now compares favourably with some of the richest and highest-grade underground deposits globally.
“While Spartan is already firmly on track to become a leading mid-tier gold miner, we are not slowing down exploration anytime soon,” Lawson said.
“The recently announced Freak discovery sits immediately adjacent to Pepper and is rapidly emerging as an exciting new mineralised position with potential for considerable scale at grades that would complement the incredible Never Never and Pepper deposits.
“We are continuing to drill Freak and other new prospects aggressively, and our intention is to continue to deliver further robust mineral resource estimate upgrades in 2025 and beyond. The Spartan march is not slowing down.”
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