Waratah Minerals has reported outstanding high-grade gold drilling results at its Spur Gold Project in New South Wales, extending mineralisation and boosting confidence in the geological model. Significant intercepts include 42m at 2.95g/t Au and a standout 1m hit at 146g/t Au.
- New drilling extends high-grade gold mineralisation up dip and along strike
- Partial assays from drill hole SPD015 reveal shallow high-grade zone
- SPD021 records highest-grade intercept to date with 1m at 146g/t Au
- Seven drill rigs active targeting rapid resource growth
- Geological framework advancing with improved predictability of gold shoots
Exceptional Drilling Results at Spur Gold Project
Waratah Minerals (ASX, WTM) has unveiled a series of impressive drilling results from its 100%-owned Spur Gold Project in New South Wales, signalling a growing and high-grade gold system. The latest assays from the Consols and Spur Zones have extended known mineralisation both up dip and along strike, reinforcing the company's geological model and resource growth potential.
Partial results from drill hole SPD015 at the Consols Zone have defined a new shallow high-grade gold zone approximately 40 metres above previous intercepts. This hole returned a notable 42 metres at 2.95 grams per tonne (g/t) gold starting from 262 metres depth, including intervals of 16 metres at 7.48 g/t and 12 metres at 9.73 g/t. Meanwhile, deeper mineralisation was also encountered, with 35 metres at 1.75 g/t from 452 metres, highlighting multiple mineralised shoots within the system.
Record-Breaking Grades at Spur Zone
At the Spur Zone, complete assay results from five diamond drill holes have revealed expanding high-grade shoots. Drill hole SPD021 stands out with an extraordinary 6 metres at 24.56 g/t gold from 329 metres, including a spectacular 1 metre intercept grading 146 g/t; the highest grade recorded on the project to date. Other holes such as SPD020 and SPD016 also returned significant intervals of mineralisation, confirming the zone's rapid expansion and complexity.
Seven drill rigs are currently active, with five focused on the Consols Zone and two at the Spur Zone, underscoring Waratah’s commitment to accelerating resource definition. The company’s Managing Director, Peter Duerden, praised the geology team’s progress in developing a 3D geological framework that is enhancing drill targeting and predictability of high-grade shoots.
Geological Insights and Exploration Outlook
The mineralisation at both zones is characterised by subvertical veins and breccias with strong alteration signatures, typical of epithermal-porphyry gold systems. The interaction of multiple vein sets at Spur has created shallowly plunging high-grade shoots that are being systematically targeted by infill drilling to capture their full extent for future resource estimates.
Waratah Minerals’ exploration strategy is focused on rapid resource growth and testing new high-grade discoveries beyond known mineralised areas. The ongoing drilling program aims to delineate the scale and grade of the system, with further assays pending, particularly for the deeper sections of SPD015.
These results position the Spur Gold Project as a potentially significant gold system with geological similarities to some of the world’s most prolific gold deposits. The company’s methodical approach and robust assay techniques, including photon assay technology, provide confidence in the quality and representativity of the data.
Bottom Line?
Waratah Minerals’ latest drilling success at Spur and Consols sets the stage for a potentially transformative resource update in the months ahead.
Questions in the middle?
- How will the pending assay results from SPD015 influence the overall resource model?
- What is the potential scale of the high-grade shoots identified at Consols and Spur?
- Could the geological similarities to major global deposits translate into a significant commercial operation?