Waratah Minerals Ltd (ASX:WTM) has reported further high-grade gold results from drilling at its 100%-owned Spur Gold Project in New South Wales, with new assays extending mineralisation at both the Consols and Spur zones.
The latest results cover seven diamond holes, with drilling focused on growing known mineralisation and testing for new high-grade zones outside previously defined areas. Waratah said 10 drill rigs remain active on site.
At Consols, hole SPD025 returned multiple strong intercepts, including 54 metres at 1.88 g/t gold from 446 metres, including 20 metres at 4.42 g/t from 476 metres, 13 metres at 6.5 g/t from 483 metres and 10 metres at 7.89 g/t from 486 metres. The same hole also returned 40 metres at 1.42 g/t from 767 metres, including 23 metres at 2.34 g/t from 781 metres and 1 metre at 20.59 g/t.
Waratah said SPD025 extends the broad high-grade Consols system 75 metres west of previously defined mineralisation and now contains two intercepts exceeding 100 gram metres. Hole SPD024, drilled 100 metres up-dip of SPD011, returned 78.45 metres at 0.9 g/t gold from 481.3 metres, including 10 metres at 2.61 g/t from 513 metres, supporting continuity towards surface.
Spur Project, plan showing reported drilling.
Spur drilling confirms continuity and shallow extensions
At the Spur zone, Waratah reported four holes from a single east-west section that confirm continuity of high-grade mineralisation and extend the system east and west.
Hole SPD029 returned 93 metres at 0.83 g/t gold from surface, including 69 metres at 1.02 g/t from 22 metres, as well as 7 metres at 1.38 g/t from 364 metres, including 2 metres at 4.54 g/t. SPD030 intersected 95 metres at 0.61 g/t from 75 metres, including 8.1 metres at 3.92 g/t from 161.9 metres and 4.5 metres at 6.66 g/t from the same depth, plus 46 metres at 0.71 g/t from 361 metres.
Further east, SPD032 returned 47 metres at 0.76 g/t from 54 metres, including 30 metres at 1.07 g/t from 71 metres, while SPD033 delivered one of the strongest near-surface hits with 8 metres at 7 g/t from 91 metres, including 3 metres at 18.42 g/t and 1 metre at 42.39 g/t. SPD034 also returned a deeper mineralised interval of 5 metres at 2.49 g/t from 362 metres within a broader 73-metre zone grading 0.39 g/t from 312 metres.
Consols cross section running south to north looking west. Clipping window is 100m.
More assays pending across active program
Managing director Peter Duerden said the results continue to support the scale and grade potential of the Spur project, particularly at Consols where drilling is extending multiple high-grade zones west along strike and towards surface.
“Our ten-rig drill program at the Spur Project continues to deliver strong results, with further high-grade gold intersections returned across multiple target areas. We are particularly encouraged by results from the Consols zone, where drilling continues to extend multiple high-grade gold zones west along strike and towards surface. Drillhole SPD025 returned a second significant high-grade gold intersection, extending mineralisation by 75 metres west of, and above, previously defined mineralisation. This hole has now returned two +100gram metre intervals and two +50gram metre intervals demonstrating the scale of the Consols system and highlighting the grade potential.
"Spur extensional drilling has expanded mineralisation to the east, whilst infill and definition drilling continue to return results in line with or better than expected. The consistency and frequency of significant intersections at both Spur and Consols gives us confidence in the potential for additional shallow, high-grade deposits within the broader Spur district. As drilling progresses, we look forward to providing further updates.”
Several additional holes remain active or are awaiting assays across both Consols and Spur, including holes SPD031, SPD036 and SPD039, as the company continues to test the broader system.
Ongoing drilling is aimed at defining the extent of mineralisation and investigating a potential link between epithermal and porphyry styles of gold-copper mineralisation at the project.