Waratah Minerals Extends Spur Gold Zone Westward with Thick Alluvial and Eluvial Gold Intercepts

New Exploration Target Emerges West of Spur Gold Zone

Waratah Minerals Limited (ASX:WTM) has unveiled a compelling expansion of its Spur Gold Project footprint in New South Wales, with sonic core drilling at the Gum Flat area uncovering thick sequences of both alluvial and eluvial gold mineralisation. The results suggest the Spur Gold Zone extends approximately 150 metres westward undercover, opening a fresh exploration front that could also offer near-surface development opportunities.

The drilling campaign, comprising nine sonic core holes, intersected broad zones of shallow gold hosted in weathered basement rocks and stacked paleochannels. Notably, hole GFS005 returned a standout high-grade saprolite intercept of 19 metres at 1.10 g/t Au from 31 metres, including a 0.5-metre section grading 8.84 g/t Au, underscoring the potential for buried high-grade mineralisation.

Alluvial Gold in Stacked Paleochannels Strengthens Project Potential

The alluvial gold mineralisation appears to be hosted in multiple quartz-rich stacked paleochannels. Drillhole GFS001, the westernmost on the southern fence, intersected 14 metres at 0.75 g/t Au from 9.5 metres, including higher-grade intervals up to 7.53 g/t Au over 0.4 metres. Similarly, GFS002 and GFS006 further confirmed gold hosted in gravel paleochannels and adjacent quartz-rich sandstone, with intercepts up to 16.8 metres at 0.43 g/t Au and 14 metres at 0.55 g/t Au respectively.

These shallow alluvial deposits are significant for early-stage development considerations, providing a potential near-surface resource that complements the harder rock mineralisation below.

Eluvial Mineralisation Expands Spur Zone Footprint

Eluvial gold hosted in weathered basement rocks to the east of the Gum Flat Fault further enhances the project's scale. Drillholes GFS007 and GFS009, located on a north-south fence 150 metres north, encountered extensive mineralisation from surface into saprolite and saprock. GFS007 delivered 30.5 metres at 0.96 g/t Au from 8 metres, including high-grade intervals up to 9.06 g/t Au over 2 metres. Meanwhile, GFS009 intersected 50.5 metres at 0.32 g/t Au from surface, with peak grades near the alluvial-basement transition reaching 5.04 g/t Au over 0.5 metres.

These intercepts support Waratah's interpretation of a substantial westward extension to the Spur Gold Zone, a view reinforced by the presence of both hardrock and alluvial gold mineralisation.

Historic Data and Future Drilling Plans

The Gum Flat drilling builds on historical exploration by Billiton Australia in the late 1980s, which reported alluvial gold production over a 20-year period from quartz gravel layers. While these historical results predate the JORC Code and have not been independently validated, Waratah's recent sonic drilling provides modern confirmation of mineralisation continuity and host rock types.

Managing Director Peter Duerden emphasised the significance of these findings, noting the discovery of hardrock and thick alluvial gold sequences materially strengthens the understanding of the Spur gold system. He highlighted that follow-up sonic and core drilling is underway to further delineate the Gum Flat mineralisation and explore potential links to the broader Spur Zone.

Waratah's broader Spur Project continues to see active drilling across multiple targets, with ongoing assays pending from diamond drilling at nearby prospects. The company’s extensive 80,000-metre drilling campaign aims to unlock the district-scale potential of this emerging gold corridor.