Waratah’s Spur Project Drilling Intensifies Amid Uncertain Resource Outcomes
Waratah Minerals has mobilised a third drill rig to its Spur Gold-Copper Project in New South Wales, targeting high-priority porphyry copper-gold zones and expanding exploration along the Spur Gold Corridor.
- Third diamond drill rig mobilised to Spur Gold-Copper Project
- New high-priority porphyry copper-gold target defined by magnetic anomaly
- Recent drilling intersected two zones of porphyry mineralisation at Breccia West
- Ongoing step-out drilling along >1km Spur Gold Corridor for epithermal gold extensions
- Project located near Newmont’s prolific Cadia Valley gold-copper district
Spur Project Expansion
Waratah Minerals Limited (ASX: WTM) has taken a decisive step to accelerate exploration at its Spur Gold-Copper Project in New South Wales by mobilising a third drill rig, including a second diamond rig. This move underscores the company’s commitment to rapidly grow its resource base and advance step-out drilling activities across its highly prospective tenement.
Located just 5 kilometres west of Newmont Corporation’s Cadia Valley Project, one of Australia’s largest gold-copper operations, the Spur Project sits within the geologically rich Molong Belt of the Lachlan Fold Province. This proximity to a world-class deposit adds significant strategic value to Waratah’s exploration efforts.
Targeting Porphyry Copper-Gold Mineralisation
Recent diamond drilling at the Breccia West prospect has intersected two distinct zones of porphyry copper-gold mineralisation. One zone is associated with potassic altered magmatic-hydrothermal breccia, while the other features strong magnetite alteration and porphyry veining hosted within basaltic volcanic rocks. These findings have prompted the identification of a high-priority follow-up drill target defined by a nearby magnetic anomaly, which is currently the focus of drilling activity.
The strong correlation between magnetite veining and mineralisation has upgraded the prospectivity of this magnetic anomaly, which represents the down-dip and along-strike projection of the mineralised breccia. This target lies along a newly interpreted 2-kilometre priority search space on the western margin of the main intrusive complex, expanding the potential footprint of mineralisation significantly.
Systematic Drilling Along Spur Gold Corridor
Alongside the porphyry targets, Waratah continues systematic reverse circulation (RC) and diamond drilling to test for extensions of shallow epithermal gold mineralisation along the more than one-kilometre-long Spur Gold Corridor. This corridor remains a key focus area given its potential to host economically significant gold mineralisation near surface.
The company’s exploration strategy balances the pursuit of high-grade porphyry copper-gold systems with the search for shallow epithermal gold deposits, both of which could contribute to a robust resource base. The ongoing drilling campaign aims to delineate these targets further and provide data to support future resource estimation.
Strategic Outlook
Waratah Minerals’ Spur Project is emerging as a compelling exploration story within Australia’s premier gold-copper porphyry district. The addition of a third rig signals confidence in the project’s potential and a commitment to maintaining momentum. While assay results from the current drilling are pending, the geological indicators and magnetic data provide a strong foundation for optimism.
Beyond Spur, Waratah also holds tenure in other promising regions, including the Stavely-Stawell Gold Project in western Victoria and the Azura Copper Project in Western Australia’s Kimberley region, positioning the company with a diversified portfolio of exploration assets.
Bottom Line?
As drilling intensifies at Spur, Waratah Minerals positions itself for a potential breakthrough in one of Australia’s richest gold-copper belts.
Questions in the middle?
- What assay results will the current Breccia West drilling yield, and how might they impact resource estimates?
- Can the magnetic anomaly south of recent drilling confirm a significant porphyry core zone?
- How will ongoing exploration along the Spur Gold Corridor influence the project’s overall resource potential?
