Waratah Minerals (ASX:WTM) has begun a growth and discovery drilling campaign, extending 80,000m at its Spur Gold Project in New South Wales.
Chairman Andrew Stewart describes this drilling program as “transformational” for the company that will realise growth potential beyond the existing footprint at Spur.
“Our exploration team is well positioned to commence this systematic exploration program that underpins our focused and aggressive growth strategy,” Stewart says.
“Exploration drilling over the last 18 months at Spur continues to show the potential to host a globally significant gold deposit.
“Recent drilling has returned some of the best intercepts to date with intervals of 200m or greater grading over 1 gram per tonne gold and importantly comprises multiple high grade zones, which compares favourably to other recent significant gold discoveries in the Lachlan Ford Belt.”
Waratah says drilling is targeting resource growth, while also targeting new discoveries outside of the known mineralisation.
The company has seven diamond drill rigs operating across the project, focusing on expanding the Spur zone and tracking previously intersected ‘high grade’ mineralisation at the Consols zone.
“The increase in drilling operations with additional rigs will enable both a continued focus on extending the known mineralisation and a ramp up of evaluating the newly developed high priority targets,” Stewart adds.
“Our exploration is driven by a robust geological model of the Spur gold system and has entered an exciting period of discovery and growth.
“The drill program is anticipated to deliver a strong pipeline of newsflow as we report results, with the aim of unlocking the full potential at Spur and creating further value for shareholders.”
Waratah Minerals is focused on its flagship Spur Gold and Copper Project in the East Lachlan region of New South Wales, Australia.
The company is attending the RIU Explorers Conference in Fremantle, Western Australia, held from 17-19 February 2026.
Mining.com.au is a media partner for the conference.
Write to Maddison Elliott at Mining.com.au
Images: Waratah Minerals
