Spartan Resources (ASX: SPR) has moved to consolidate its position at the Dalgaranga Gold Project in WA, snapping up the remaining 20% interest in four exploration tenements it didn’t already own. The deal, worth $2.5 million in cash, gives Spartan 100% control over tenements E59/1904, E59/1906, E21/195 and E59/1709, and effectively dissolves two legacy joint ventures.
It’s a strategic step forward for Spartan, which has been laser-focused on unlocking value from its high-grade Never Never and Pepper underground gold deposits. These assets sit just a stone’s throw from the company’s existing 2.5Mtpa CIL plant and infrastructure, giving Spartan a low-capex pathway to production restart.
Clean ownership, clearer path ahead
Executive Chairman Simon Lawson said full ownership will give the company greater operational flexibility as it weighs a restart decision at Dalgaranga. And with exploration prospects on the newly consolidated ground showing similar geological potential to Never Never and Pepper, Spartan is wasting no time planning the next wave of drilling.
“The acquisition simplifies our business model and positions us well as we progress the broader transaction with Ramelius,” Lawson said, referring to the proposed corporate tie-up announced back in March.
What’s next?
With a strong cash balance in place, Spartan isn’t just tightening its land position — it’s also gearing up for aggressive exploration around its known high-grade zones. The Never Never and Pepper discoveries already boast a combined underground Mineral Resource Estimate of 2.32Moz at an impressive 9.32g/t gold, and both remain open along strike and at depth.
Recent work around the Freak Prospect, just 110 metres south of Pepper, adds further intrigue, especially given its proximity to planned underground infrastructure. The company’s focus is firmly on building a long-term, high-grade gold operation that can deliver robust shareholder returns.
This latest move removes any JV complexities from the equation and gives Spartan a streamlined platform to drive its strategy forward — one high-grade ounce at a time.
