Waratah’s Deep Spur Hole Reveals a High-Grade Gold System
Waratah Minerals has reported its strongest drilling result to date at the Spur Gold Discovery, with a deep hole returning 46 metres at 7.27 g/t gold. The result extends the Consols Zone and supports four high-grade footwall domains, although the project remains at an early exploration stage.
- 46m at 7.27 g/t gold from 541m in hole SPD075
- 10m at 28.93 g/t, including 1.3m at 206 g/t
- Mineralisation extended 70m north and 150m east
- Consols traced across approximately 400m of strike and vertically
- No Mineral Resource has yet been defined
Deep SPD075 hole delivers Waratah’s strongest gold result
Waratah Minerals Limited (ASX:WTM) has produced its best reported gold intercept at the Spur Discovery, with diamond hole SPD075 returning 46 metres at 7.27 g/t gold from 541 metres at the Consols Zone. The interval includes 19 metres at 15.62 g/t, 10 metres at 28.93 g/t and a 1.3-metre section grading 206 g/t from a single assay sample.
The result is notable not just for its grade, but for its position in the growing Consols system. SPD075 extended known mineralisation by 70 metres to the north and 150 metres to the east, while the zone can now be traced across approximately 400 metres of east-west strike and 400 metres vertically. Waratah said the hole helps define four higher-grade domains in the footwall of the Colthi Fault.
Four footwall zones emerge at Consols
The standout FW4 zone was not the only meaningful result in the hole. SPD075 also intersected 80 metres at 0.97 g/t from 394 metres, including 22 metres at 2.69 g/t and 15.45 metres at 3.66 g/t. A further 36.6 metres at 0.71 g/t from 490 metres included 7 metres at 3.01 g/t, while the upper FW2 zone returned 23 metres at 2.18 g/t from 312 metres.
Waratah’s interpretation separates Consols into hangingwall and footwall domains divided by the Colthi Fault. The four footwall zones have different widths, orientations and apparent plunge directions, and several remain open along strike or down dip. The company says more drilling is needed to clarify the geometry of the narrower FW3 domain and the relationship between the mineralised zones.
Exploration scale remains the unanswered question
The numbers are encouraging, but they are not yet a resource estimate. The announcement describes the exploration potential as conceptual, and says there has been insufficient work to define a Mineral Resource. Reported intervals are downhole lengths rather than confirmed true widths, although Waratah estimates the mineralised zones are likely to represent more than 80% of true thickness.
The exceptional grades also need to be read with care: the 206 g/t result is based on one assay sample, as is the 71.68 g/t sample within a separate 0.45-metre FW3 interval. Drilling is continuing across Consols and the broader Spur project, with several completed holes awaiting assays and additional holes active or planned. Those results will test whether SPD075 marks a repeatable high-grade structure or an unusually rich section within a more variable system.
Bottom Line?
SPD075 materially improves the geological picture at Consols, but the next value test is continuity: pending assays and follow-up drilling must show whether these high grades persist beyond a single deep hole.
Questions in the middle?
- Will follow-up drilling confirm the continuity and true widths of the four footwall domains?
- How consistently will the exceptional grades in FW4 and FW3 appear across nearby holes?
- Can the expanding Consols footprint support a Mineral Resource estimate after further drilling?
