Spur emerging as sizeable gold corridor for Waratah Minerals

• WTM says multiple high-grade gold zones extend Spur Gold Corridor
• Project shaping up to host sizeable epithermal system in NSW
• Company undertaking extensional RC and diamond drilling

Special Report: Waratah Minerals shot up more than 40% in early trading after drilling at Spur project in the East Lachlan region of NSW reinforced the potential of the Spur gold corridor to host a large-scale, high-grade epithermal gold system.

The latest assays returned: 

• 208.7m at 1.17 g/t gold from 514m including 89m at 1.96 g/t from 614m and including 38m at 3.61 g/t from 665m (drill hole SPRCD062 at Consols prospect);
• 27m at 1.03 g/t Au from 163m (SPRC078 at Essex Zone);
• 28m at 0.88 g/t Au from 160m (SPRC077 at Essex Zone); and
• 21m at 0.73 g/t Au from 133m (SPRC076 at Thistle Zone).

Waratah Minerals (ASX:WTM) also found visible gold at Consols, which it says represents a major extension of the Spur Gold Corridor.

A broad spaced drill program is planned for Consols to determine the extent of the mineralised system from surface to approximately 450m depth. 

Scale and significance becoming clear

The company is confident the drilling demonstrates the potential scale, significance and growth upside of the rapidly emerging Spur Gold Corridor.

“Drill hole SPRCD062 represents a pivotal drill hole for Waratah at our Spur project,” MD Peter Duerden said.

“We have always believed that the epithermal gold mineralisation of the Spur Gold Corridor crossed the Essex Fault and should extend to the northeast, despite historical drilling having been unable to locate extensions. 

“The decision by the exploration team to extend SPRCD062 twice based on encouraging geological indicators has resulted in the identification of a new mineralised zone including visible gold with high grades at Consols which represents a major extension of the Spur Gold Corridor and the best intercept at the project to date. 

“With the ongoing exploration success and a high-level team in place the company is planning to accelerate activity at the project.”

Extensional RC and diamond drilling is now underway at the Spur Project to define epithermal gold across the >1.5km Spur Gold Corridor whilst simultaneously testing for porphyry mineralisation in the Breccia West area.

This article was developed in collaboration with Waratah Minerals, a Stockhead advertiser at the time of publishing. 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.