Waratah Minerals reports significant new high-grade gold intersections at its Spur Gold Project in New South Wales, extending known mineralisation and accelerating its drilling program with nine rigs active.
- Multiple broad high-grade gold intercepts at Consols and Spur zones
- Drilling extends mineralisation laterally by up to 80 meters and vertically by 35 meters
- Project total now includes 20 intersections exceeding 100 g/t Au x m
- Nine drill rigs currently active with approvals for 150 new drill sites
- Photon assay technique used for robust gold quantification
Expanding High-Grade Gold Mineralisation
Waratah Minerals Limited (ASX:WTM) has delivered a fresh wave of optimism for its Spur Gold Project in New South Wales, unveiling a series of significant high-grade gold assay results from its ongoing diamond drilling campaign. The company’s latest release highlights multiple broad zones of gold mineralisation at both the Consols and Spur Gold Zones, with some drill holes extending known mineralisation both laterally and vertically.
Notably, drill hole SPD025 returned a shallow, high-grade gold intercept extending 80 meters west and above previously known mineralisation, including a standout 11 meters grading 7.32 grams per tonne (g/t) gold from 290 meters depth. Meanwhile, SPD019w has effectively doubled the width of the high-grade zone at the eastern margin of Consols, intercepting 72.5 meters at 1.58 g/t gold from 431 meters, with higher-grade sub-intervals reaching nearly 8 g/t.
Robust Drilling Program and Methodology
The drilling program is notable for its scale and intensity, with nine rigs currently operating and regulatory approvals secured for an additional 150 drill sites. This aggressive approach underscores Waratah’s commitment to rapidly grow and define the gold system at Spur, one of the largest drill campaigns underway in eastern Australia.
Waratah employs advanced photon assay technology, which analyses a larger sample size than traditional fire assays, offering more reliable quantification of gold, especially where coarse gold is present. This methodological rigor adds confidence to the reported results and supports the company’s exploration strategy.
Implications for the Spur Gold Project
The cumulative impact of these results is substantial. The project now boasts 20 intersections exceeding 100 g/t Au x meters and 66 intersections in the 50 to 100 g/t Au x meter range, reinforcing the potential scale and grade of the mineralisation. The broad, subvertical geometry of mineralised zones, combined with the presence of multiple high-grade veins and alteration halos, suggests a robust epithermal-porphyry gold system in a premier Australian gold-copper district.
Managing Director Peter Duerden emphasised the significance of the findings, noting the rapid expansion of high-grade zones and the strong pace of drilling. The company’s ability to secure extensive drilling approvals further enhances its optionality as it advances the project toward resource definition and potential development.
Looking Ahead
While these results are promising, they represent partial assays with further results pending from several drill holes. The true widths of mineralisation remain to be precisely defined, and a formal resource estimate update is anticipated as drilling progresses. Metallurgical testing indicating high gold recoveries adds another positive dimension to the project’s outlook.
Waratah’s Spur Gold Project continues to attract attention as a significant exploration success story in New South Wales, with its expanding high-grade zones positioning it well within Australia’s competitive gold exploration landscape.
Bottom Line?
Waratah’s expanding high-grade gold zones at Spur signal growing momentum, but full resource clarity awaits further drilling and assay results.
Questions in the middle?
- How will pending assay results from ongoing drill holes influence the overall resource estimate?
- What are the implications of the expanded high-grade zones for potential mining methods and project economics?
- How might community and regulatory factors impact the pace and scale of future drilling and development?