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SPR - Spartan Resources

Joined
9 January 2007
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spun out of HLX and GIR's au portfolio's

several au projects in aust

current jorc resource of 2.4Mt @ 2.6 g/t au for 203,000ozs au at the glenburgh project

resource upgrade due the second half of this month, described as 'significant' by gcy [see ann dated 22/10/10] - due to drilling further extending the orebody and the pog increase since initial estimate allowing for a lower au cut-off grade

as at sep qrtly 63,349,600 shares + oppies, approx $3.5M in the bank
 
Went hunting for some nice specy gold miner and found this the other day
with a market cap of about 8mil.
Today a resource upgrade from one of there deposits from 203koz to 360koz and two weeks ago Highly Anomalous Gold in Soils at Bassit Bore another one of there projects this could be a nice one to watch.
 
Not sure if anyone is following this little specy but it jumped up 6cents to 16.5
hitting a daily high of 18cents.

Small gold deposit in the gascoyne area of 360k oz with many projects and great upside.
current market cap arround 6million i believe.
 
Is there anybody that is still following this stock ??? This stock is gonna go parabolic this year.
 

I am, and the technicals on its chart is compelling.
 
SIGNIFICANT TUXEDO AND SW AREA DRILLING RESULTS – GLENBURGH GOLD PROJECT


HIGHLIGHTS: Significant results continue from infill and extensional RC drilling at Glenburgh satellite deposits;
 Tuxedo Deposit area
o 11m @ 3.5 g/t gold including 5m @ 7.0 g/t gold, 1m @ 29.6 g/t gold
o 5m @ 3.9 g/t gold including 1m @ 14.6 g/t gold
o 17m @ 1.4 g/t gold including 6m @ 2.8 g/t gold
o 18m @ 1.0 g/t gold including 8m @ 1.7 g/t gold
o 3m @ 4.8 g/t gold including 1m @ 13.1 g/t gold
o 6m @ 1.5 g/t gold EOH including 1m @ 5.0 g/t gold to EOH
 SW Target Zone
o 29m @ 0.8 g/t gold including 3m @ 1.7 g/t gold Ongoing drilling at the major Icon, Apollo, Zone 102 and 126 deposit areas

Forward Program
The 40,000 metre drill program is progressing well ahead of schedule. To date around 27,000 metres have been completed.
Infill drilling to allow resource conversion from Inferred to Indicated as part of the current feasibility study has been completed. Diamond drilling is continuing at Icon/Apollo and 126
In addition to the priority targets outlined in the text above, the following activities are planned.
• Detailed infill geochemical sampling of historical soil anomalies along strike from the Zone 126 deposit that remain untested.
• Exploration drilling of a number of priority geochemical anomalies.
• Shallow geochemical RAB /Aircore drilling to test historical targets
• Resource modeling
• Pit optimizations and associated mine designs
Further results and information will be provided as they become available.
 
DALGARANGA GOLD PROJECT ACQUISITION HIGHLIGHTS

-Gascoyne to acquire an 80% interest in the advanced Dalgaranga gold project
-382,300 ounces of gold resources in JORC Measured and Indicated categories
-No significant exploration in last 12 years
-High grade drill results yet to be followed up including 22m @ 6g/t gold and 7m @ 10.8g/t gold
-High potential for discovery and resource growth within large 850km² tenement package
-Acquisition fits Gascoyne’s growth strategy, and provides a second near-term production opportunity in addition to Company’s 700,000 ounce Glenburgh project.

Gascoyne Resources Limited is pleased to announce that it has entered into a binding agreement to purchase the Dalgaranga gold project and surrounding exploration tenements from private tenement holders (vendors). Dalgaranga is located 70km NW of Mt Magnet in the Murchison region of Western Australia, and contains JORC gold resources of:
7.5 Mt @ 1.58 g/t gold for 382,000 ounces in the Measured and Indicated categories
 
should have done first pour yesterday at Dalgaranga..............
 
Some love for Gascoyne Resources finally after a four month share price decline from 62c in mid-May to a low of 27c yesterday after news that initial RC drilling has intersected ultra-high grade gold mineralisation at the Tanqueray Prospect at the Dalgaranga Gold Project. The drill holes are located only 1.8 km north of Gascoyne's mill at Dalgaranga.

The company reported that gold grades of up to 1,450 g/t were intersected within an 8 metre wide zone of high grade visible gold mineralisation. The drilling intersected: 8m @ 373.5 g/t gold from 53 metres including 3m @ 987 g/t from 53 metres. The mineralisation contains very coarse visible gold within a quartz rich clay zone.

Today's announcement saw GCY gap up and reach a high of 36c early in the day before retreating slightly to close at 32.5c. Volume of 8.5 million shares traded is the company's highest daily volume of 2018 so far.

Only two RC holes have been drilled on the prospect and follow-up drilling is currently being planned. If more assay results like this come through we might see GCY revisit old highs before the end of the year.

One to watch over the coming months.

 
froth and day trade excitement - went as quick as they came. SPP is concluding ..... and take up rates as yet unknown (ann did not hurt you would think).
General gold sentiment maybe getting better, but site details are scant at this vital point after the raise debacle (they all seem to be lately)
 
Yep ….. One vein is not going to get the Market going crazy the way Gold is being traded at the moment ….. If they happen to duplicate that vein either width or depth wise, it will definitely create some interest though.
 

I do respect Ian Murray ..........
Now need shiny stuff results.
 
froth and excitement ? or a failure to meet expectations


Gascoyne is back trading after a long long time. At least it is still operating, and workforce have jobs, creditors and NRW get something.
There's a long story about the perilous path of restructuring, of getting a concern out of administration and how the liquidation pathway may impinge on a successful listed reincarnation. Went to court and the original restructure held up rather than selected creditors winning the day and getting it cheaper.

 
(continued)


Full story needs to be read. Excerpts: 02 July 2019, Gascoyne in administration
then by 18 June, this year, administrators FTI asked the company's creditors to approve a deed of company arrangement that it said could lead to a full refund for everyone owed money. Investors put in new debt, bank loans reduced to manageable levels, and relist.

But it nearly didn't happen
 
@Dona Ferentes Thanks for the summary and link. I was wondering what happened to Gascoyne as there is a huge gap in the chart.

Price seems to have found a base and has started moving higher. Reading through the latest reports it seems mgt is taking a very cautious approach with hedging (40%) and cash on hand equals bank debt.

 
Closed my position in GCY after price failed to rally after breaking higher than 0.60 at the same time gold was rallying. Planned to re-buy on a BO>0.65 but it didn't trigger. Price fell after news of production problems (sulphide contamination, cost rises, mine design alterations).

When sellers want out, the price falls quickly.

 
Now in a trading halt awaiting release of details pertaining to a material corporate acquisition.

I wonder if some market participants knew this was happening and don't like it? Hence the selloff.