Spartan Resources Ltd

spartan resources limited (“spartan”) is an asx-listed gold exploration company, based in western australia. the flagship asset is the dalgaranga gold project (“dalgaranga”) located approximately 65km from mt magnet in wa's midwest. the former gascoyne resources commenced gold production at dalgaranga in may 2018 operating one of the lowest cost gold processing plants in australia. in late 2022 mining operations were placed into care and maintenance after a period of sustained industry cost inflation and low head grades. prior to shuttering mining operations, mid 2022, gascoyne had made a high-grade discovery, the never never gold deposit, just 1km from the process plant. the company has now drilled out the high grade discovery and established a substantial mineral resource estimate of 721,000 ounces @ 5.85g/t, including 90,000 ounces @ 2.2g/t gold mineralised from surface and an underground component of 630,000 ounces @ 7.6g/t gold, as the cornerstone to a new +5yr high-grade mine