Waratah Minerals confirms expansion potential at Spur Gold Corridor

Waratah’s ramped-up drilling at Spur confirms gold extensions with 60 more drill holes planned.

The expanded drill program is designed to accelerate targeting of extensions to known mineralisation at the Spur Gold Corridor. Pic: Getty Images

Special Report: An expanded three-rig campaign at Waratah Minerals’ Spur project has confirmed extensions to known gold mineralisation at the Spur Gold Corridor, as drilling continues to investigate a potential link with a porphyry gold-copper system.  

• Numerous intercepts returned from expansion drilling at the Spur gold-copper project in NSW 
• Significant new extensions to gold mineralisation have been identified as work continues to grow the scale of the Spur Gold Corridor 
• Follow-up drilling is planned with an additional 60 holes planned 

Numerous intercepts from expansion drilling were returned within the >1km Spur Gold Corridor such as 77m at 1.31g/t gold from 310m, including 8m at 3.19g/t gold from 327m as well as 56m at 1.63g/t gold from 252m. 

New extensions to gold mineralisation, northeast of the Essex Fault, were identified with drilling linking the Spur and Consols Zones, returning 11m at 1.49g/t gold from 90m, including 1m at 14.45g/t gold from 98m. 

Meanwhile, the program at Breccia West intercepted a broad zone of porphyry-related mineralisation and alteration, with drillhole BZD002 hitting 33m at 0.18% copper equivalent and 61ppm molybdenum from 546m within 419m at 45ppm molybdenum from 34m. 

Background on Spur 

Ongoing work is rapidly growing the scale of the Spur Gold Corridor with 76 drill holes totalling 18,852m completed since mid-2024. 

The Spur Gold Corridor now contains 45 >50-gram x metre and 7 >100-gram x metre gold intersections, establishing it as one of the premier emerging gold discoveries in the region. 

So far exploration at Spur, which sits within NSW’s Macquarie Arc in the Lachlan Fold Belt, has outlined a broad zone of epithermal stringer mineralisation, accompanied by porphyry-style alteration – characteristics consistent with the upper levels of a larger porphyry system. 

Waratah Minerals (ASX:WTM) has been drilling on the edge of the major Cargo Intrusive complex, and focusing on the shoulders of that structure, a mere 5km west from Newmont’s (ASX:NEM) Cadia Valley gold and copper operations.

More exploration coming 

WTM managing director Peter Duerden said the company is excited to see step-out drilling along strike and at depth continuing to expand the Spur Gold Corridor. 

“In conjunction with the gold drilling program at the Spur Gold Corridor a second drill hole was completed at the Breccia West porphyry copper-gold target,” he said. 

“Drill hole BZD002 intersected a broad zone of porphyry related mineralisation and alteration with anomalous pathfinder elements that typically occur at the tops or edges of porphyry systems indicating that the first two diamond holes into Breccia West occur on the margins of a preserved system. 

“The higher-grade mineralisation would be expected within the centre of the system rather than the edges and work is being conducted to vector into this higher-grade centre.”

Follow up drilling continues to extend the >1km Spur Gold Corridor with an additional 60 holes planned. 

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.