Spur Gold Project Drilling Yields 71m at 1.65g/t and 8m at 1.87g/t Gold Intercepts
Waratah Minerals reports significant new gold intercepts at its Spur and Consols Zones, expanding the promising Spur Gold Corridor in NSW. The company also accelerates exploration with more rigs and advanced assay technology.
- Significant gold intercepts from diamond drilling at Spur and Consols Zones
- Expansion to five active diamond rigs to increase drilling pace
- Adoption of rapid, non-destructive PhotonAssay technology for improved assay accuracy
- NSW government grants $250,000 co-contribution for further drilling
- Ongoing drilling targets extensions and structural complexities in mineralisation
Extending the Spur Gold Corridor
Waratah Minerals (ASX – WTM) has unveiled a fresh tranche of assay results from its Spur Gold Project in New South Wales, revealing substantial gold mineralisation extensions at the Spur and Consols Zones. The latest diamond drilling, including holes SPD009, SPD010, and SPRCD080w, returned multiple high-grade intercepts, some exceeding 5 grams per tonne over several meters, underscoring the project's growing scale and potential.
Notably, hole SPD009 intersected a remarkable 71 meters at 1.65 g/t gold starting from 582 meters depth, including a high-grade segment of 6.22 meters at 5.37 g/t. Meanwhile, SPD010 delivered near-surface mineralisation with an 8-meter intercept at 1.87 g/t, featuring a standout 1-meter section grading 18.7 g/t. These results build on previous drilling successes, confirming continuity and encouraging further exploration.
Scaling Up Exploration Efforts
To capitalize on this momentum, Waratah has expanded its drilling fleet to five diamond rigs, a significant increase that will enable more rapid and extensive coverage of the Spur Gold Corridor. This operational scale-up is complemented by the adoption of the Chrysos PhotonAssay technique, a cutting-edge, non-destructive assay method developed by CSIRO and Chrysos Corporation. PhotonAssay uses high-energy X-rays on larger sample sizes, reducing the notorious 'nugget effect' that can skew gold assay results and shortening turnaround times.
Waratah’s Managing Director, Peter Duerden, highlighted the strategic importance of these developments, noting that the team is actively tracking zones of high-grade mineralisation and adjusting drilling to account for structural complexities such as fault displacement observed in the Consols Zone.
Government Support and Future Outlook
Further bolstering Waratah’s exploration campaign, the company secured a $250,000 co-contribution grant from the New South Wales government’s Critical Minerals and High-Tech Exploration Program. This funding will support two deep drill holes at Consols and Breccia West, targeting extensions of mineralisation and refining geological models.
The Spur Gold Project sits within a highly prospective epithermal-porphyry gold-copper district, with Waratah’s tenure covering multiple targets. While the current results are promising, the project remains at an early stage, with ongoing drilling aimed at delineating mineralisation continuity and potential resource estimation.
Waratah’s integration of advanced assay technology and increased drilling capacity positions it well to accelerate news flow and potentially unlock significant value from the Spur Gold Corridor in the coming months.
Bottom Line?
Waratah Minerals is rapidly advancing the Spur Gold Project, but structural complexities and early-stage exploration mean investors should watch closely for upcoming drilling and assay updates.
Questions in the middle?
- How will ongoing drilling refine the understanding of structural controls on mineralisation continuity?
- What impact will PhotonAssay technology have on the accuracy and reliability of future gold grade estimates?
- When can investors expect a formal Mineral Resource estimate for the Spur Gold Project?
