Waratah Minerals Confirms Broad High-Grade Gold Expansion at Spur Project

• Shallow high-grade gold intercepts up to 108 g/t Au
• Mineralisation corridor now 500m wide and 6km long
• 80,000m drilling program ongoing across multiple targets
• Drilling extends mineralisation along Tywi and Essex faults
• Further assay results expected from Consols and Gazzards

Shallow High-Grade Gold Extends Along Key Faults

Waratah Minerals (ASX:WTM) has delivered another strong batch of assay results from its Spur Gold Zone in New South Wales, confirming the Spur Project as a burgeoning district-scale gold system. The latest 12 drill holes, part of an extensive 80,000m growth and extensional drilling campaign, have revealed shallow, high-grade mineralisation extending notably along the Tywi and Essex faults.

Standout intercepts include SPD058, which returned 55.9m at 2.63 g/t Au from just 3.1m downhole, featuring a remarkable 1m section grading 108 g/t Au at 43m depth. This hole extends mineralisation 40m north along the Tywi Fault, highlighting the structural controls driving gold distribution. Similarly, SPD039 added significant width to shallow mineralisation between Spur and the Essex Fault, with a broad 102.9m intercept at 0.73 g/t Au from 210m, including multiple high-grade intervals up to 12.29 g/t Au.

Deep Mineralisation and Corridor Expansion

The drilling also pushed mineralisation deeper and wider. SPD063 intersected 25m at 2.05 g/t Au from 359m, including 2m at 16.68 g/t Au, expanding the known high-grade footprint 180m below previous holes. SPD059 and SPD061 extended mineralisation eastward toward the Essex Fault, with SPD059 delivering a thick 117m intercept at 0.69 g/t Au from 101m, featuring multiple higher-grade zones.

Overall, the results define a 500m wide mineralised corridor south of the Essex Fault within a priority target zone extending 6km along the margin of the Cargo Intrusive Complex. This scale and continuity reinforce the project’s potential as a major epithermal-porphyry gold system in one of Australia’s premier gold-copper districts.

Systematic Exploration Across Multiple Targets

Waratah’s Managing Director, Peter Duerden, emphasised the ongoing nature of the program: “Drilling continues across multiple targets at the Spur Project, with rigs turning at Spur, Consols, Ironclad and Gazzards. These results from Spur have extended shallow mineralisation defining a 500m wide corridor south of the Essex Fault within the wider 6km long priority target zone.”

The company is advancing systematic exploration and expects to release further assay results from Consols and initial reverse circulation drilling at Gazzards later this month, maintaining momentum in its aggressive growth strategy.

Technical Rigor and Forward Steps

The drilling program employs industry-leading photon assay techniques, enabling robust quantification of gold, including coarse gold grains. The mineralisation is generally subvertical, with true widths estimated to be over 75% of downhole intercepts. Early metallurgical testing indicates gold recoveries exceeding 90% by gravity and conventional leaching methods, a positive sign for potential processing.

Waratah holds 100% ownership of the Spur Project tenements, with some recent acquisitions expanding its footprint. The company’s exploration is supported by detailed geophysical surveys, including reprocessed 3D IP and magnetic data, which have helped delineate targets and structural controls.

Bottom Line?

Waratah Minerals’ latest drilling cements Spur as a large, high-grade gold system with significant upside, but resource definition and further assay results remain key near-term milestones.

Questions in the middle?

• How will upcoming assay results from Consols and Gazzards reshape the project’s overall resource potential?
• What impact will the deep high-grade intercepts have on future mine planning and economic modelling?
• Can the company confirm continuity of mineralisation between Spur and adjacent zones to support a district-scale resource?