Waratah Minerals Unveils Expanding 1km Spur Gold Corridor with High-Grade Drilling
Waratah Minerals has confirmed significant extensions to its Spur Gold Corridor in NSW, revealing high-grade gold intercepts and promising porphyry copper-gold mineralisation. The expanded drilling program aims to unlock further potential in this emerging gold discovery.
- Multiple high-grade gold intercepts along a >1km Spur Gold Corridor
- Drilling links Spur and Consols Zones across the Essex Fault
- Porphyry copper-gold mineralisation identified at Breccia West
- 76 drill holes completed since mid-2024 with 60 more planned
- Potential scale comparable to major regional deposits like Cowal
Expanding the Spur Gold Corridor
Waratah Minerals (ASX – WTM) has delivered a compelling update on its Spur Project in New South Wales, confirming substantial extensions to gold mineralisation along its Spur Gold Corridor. The corridor now stretches over one kilometre, with recent drilling returning impressive intercepts such as 77 metres at 1.31 grams per tonne gold and 56 metres at 1.63 grams per tonne gold, underscoring the project's growing significance.
The company's aggressive drilling campaign, which has completed 76 holes totalling nearly 19,000 metres since mid-2024, is rapidly expanding the known mineralised footprint. Notably, drill hole SPRC062 has linked the Spur Zone with the Consols Zone across the Essex Fault, suggesting a more extensive and continuous gold system than previously understood.
Porphyry Copper-Gold Potential at Breccia West
Beyond gold, Waratah's exploration at the Breccia West prospect has intersected broad zones of porphyry-related copper-gold mineralisation. Drill hole BZD002 revealed 33 metres at 0.18% copper equivalent, accompanied by significant molybdenum anomalies over a 419-metre interval. These findings indicate proximity to a preserved porphyry system, with ongoing drilling aimed at vectoring towards higher-grade cores.
Geological Context and Regional Comparisons
The Spur Gold Corridor's epithermal gold mineralisation, associated with magnetite skarn alteration, draws parallels with renowned deposits in the region, such as the Cowal gold mine. The geological setting, featuring alkalic porphyry and skarn systems, is highly prospective and supports the potential for a large-scale discovery. Waratah's exploration strategy integrates detailed geochemical and geophysical data to refine targeting and enhance the understanding of mineralisation controls.
Next Steps and Market Implications
With an additional 60 drill holes planned, Waratah is poised to further delineate the Spur Gold Corridor and advance its porphyry copper-gold targets. The company's methodical approach and encouraging results position the Spur Project as a premier emerging gold and copper discovery in the East Lachlan region. Investors will be watching closely as assay results from ongoing diamond drilling tails and new holes are released, potentially reshaping the project's valuation and development trajectory.
Bottom Line?
Waratah Minerals’ expanding Spur Gold Corridor and porphyry targets signal a promising next phase in a rapidly evolving discovery.
Questions in the middle?
- How will pending assay results from diamond tails impact the overall resource potential?
- What are the timelines and plans for initiating a formal resource estimate?
- How might metallurgical testing influence the economic viability of the porphyry copper-gold system?
