Waratah Minerals Unearths Rich Gold Intersections at Spur Project
Waratah Minerals is making significant headway at its flagship Spur gold project in New South Wales, with ongoing drilling programs consistently delivering high-grade gold results and expanding known mineralisation. Recent drilling efforts at both the Consols and Spur zones have yielded impressive intersections, bolstering the company’s confidence in the project’s economic potential.
The company’s strategic drilling strategy is focused on two key objectives: rapidly growing the existing mineral inventory and identifying new, high-grade gold discoveries. The latest batch of five diamond holes has provided compelling evidence that these goals are being met.
Consols Zone: High-Grade Gold Within Broad Mineralised Zones
At the Consols gold zone, drilling has returned multiple high-grade gold results that are situated within broader zones of mineralisation. A standout intersection from hole SPD025 delivered a significant 24.4 metres grading 3.73 grams per tonne of gold (g/t Au) from a down-hole depth of 290 metres. This result is particularly noteworthy as it not only confirms the presence of high-grade gold but also extends mineralisation along strike and to shallower depths. The drilling also successfully tested an area 80 metres west of and above known mineralisation, indicating further upside potential.
The ongoing systematic progression of the drilling program at Consols is building upon recent discoveries, including the impressive intersection from drill hole SPRCD062, which previously returned 208.7 metres at 1.17 g/t Au from 514 metres, revealing wide and multiple high-grade zones.
Hole SPD025, in its entirety, has provided valuable insights. It returned partial results showing a broad zone of 80 metres grading 1.78 g/t Au from 271 metres. Within this broader zone, higher-grade intervals were identified, including 9 metres grading 3.18 g/t Au from 274 metres. Furthermore, the previously highlighted 24.4-metre intersection at 3.73 g/t Au from 290 metres contained an exceptional 11-metre interval grading 7.32 g/t Au from the same depth. These intersections were found within andesite, characterised by strong vein and disseminated pyrite associated with potassic and hematite alteration, all indicative of a robust mineralising system.
Final assays for hole SPD015, which was previously reported to a depth of 491 metres, have now been received, revealing that the drill hole passed through an additional broad mineralised zone containing four more high-grade intervals. These newly reported intersections are:
- 30 metres grading 1.99 g/t Au from 494 metres, including 7.4 metres grading 7.06 g/t Au from 501 metres.
- 52 metres grading 1.41 g/t Au from 536.93 metres, including 12 metres grading 3.93 g/t Au from 570 metres.
- 19.3 metres grading 2.1 g/t Au from 741.7 metres.
- 5 metres grading 10.93 g/t Au from 854 metres.
In a separate development at Consols, hole SPD019W1, a wedged hole from SPD019, has successfully extended and expanded high-grade mineralisation approximately 35 metres above its parent hole. Partial assays from SPD019W1 returned a significant 72.5-metre intersection grading 1.58 g/t Au from 431 metres, which included a high-grade interval of 3.5 metres grading 7.97 g/t Au from 480.5 metres.
Spur Zone: Broad Results and Multiple High-Grade Discoveries
The definition drilling at the Spur zone is also continuing to deliver promising broad results, with multiple higher-grade zones encountered. These findings are consistent with, or even exceed, the expectations set by earlier, broader drilling campaigns.
A standout drill hole at the Spur zone, SPD028, has demonstrated that the deposit hosts multiple higher-grade zones located closer to the surface. The assay results from SPD028 include:
- 58 metres grading 0.51 g/t Au from 135 metres, with an included interval of 4 metres grading 2.35 g/t Au from 182 metres.
- 41 metres grading 0.96 g/t Au from 271 metres, containing a 4.1-metre intersection grading 5.25 g/t Au from 280.2 metres.
- 88.4 metres grading 0.61 g/t Au from 331.6 metres, which includes a 1-metre interval grading 11.5 g/t Au from 340 metres.
These latest results are particularly encouraging for Waratah Minerals (ASX:WRM), as they increase the total number of gold intersections exceeding 100 gram-metres (a common indicator of economic deposit potential) to 20. Furthermore, the count of intersections between 50 and 100 gram-metres has now reached 66, underscoring the project’s growing mineral endowment.
Continued Drilling Momentum and Future Outlook
Waratah Minerals’ managing director, Peter Duerden, expressed his satisfaction with the ongoing drilling success. “We are extremely pleased to report that drilling continues to extend multiple zones of high-grade gold mineralisation along strike and to shallower levels at Consols,” he stated. “Spur infill and definition drilling continues at pace, providing results in line with or better than expected.”
The company’s ambitious drilling program is showing no signs of slowing down. With nine diamond rigs currently operational, the focus remains on extending and defining gold mineralisation at both the Spur and Consols prospects. Adding to the project’s momentum, Waratah has secured approvals for an additional 150 new drill sites. This strategic foresight provides the company with significant flexibility and optionality as it progresses what is currently one of the largest drill programs underway in eastern Australia. This sustained drilling effort is crucial for unlocking the full potential of the Spur gold project.
