Waratah Minerals (ASX:WTM) reports drilling results from the Spur Gold Discovery in New South Wales, with hole SPD075 delivering its ‘best intercept to date’.
SPD075 returned 46m @ 7.27 grams per tonne gold (Au) from 541m, including 19m @ 15.62g/t Au from 541m and 10m @ 28.93g/t Au from 550m. The result included a single assay of 1.3m @ 206g/t Au from 556m.
Additional intercepts from the hole include 80m @ 0.97g/t Au from 394m, incorporating 22m @ 2.69g/t Au from 401m, and an upper zone returning 23m @ 2.18g/t Au from 312m including 8m at 5.14g/t Au from 327m.
The hole extended mineralisation 70m north and 150m east from existing drilling at the Consols Zone, defining four zones of mineralisation in the footwall of the Colthi Fault.
Managing Director Peter Duerden says the hole extended known mineralisation and confirmed continuity across the Consols Zone.
“Not only has the hole provided a significant extension to known mineralisation, it has also delivered high gold grades and confirmed the continuity of multiple mineralised zones across the Consols Zone within the wider Spur Gold Discovery,” Duerden adds.
“As drilling continues, we are seeing increasing evidence that the high-grade zones identified to date form part of a much larger interconnected mineralised system.”
The results trace Consols Zone mineralisation over about 400m of strike east-west and 400m of vertical extent.
Consols is separated into two domains by the east-west trending Colthi Fault.
Mineralisation above the fault features magnetite, chlorite, epidote, and pyrite-hosted gold. Meanwhile, the footwall domain contains quartz, pyrite, chalcopyrite, and magnetite vein and breccia-hosted gold.
Four ‘higher-grade’ domains above 2g/t Au have been defined in the footwall.
Waratah has 17 active drill rigs across the Spur Project, with multiple holes completed and assays pending. The discovery sits within exploration licence EL5238 in the Eastern Lachlan Fold Belt.
Waratah Minerals is an Australian diversified explorer advancing a portfolio of gold, copper, and nickel assets.
Write to JC Villarba at Mining.com.au
Images: Waratah Minerals
