Waratah Minerals (ASX: WTM) is intensifying its drilling operations at the Spur gold-copper project in New South Wales, spurred by the identification of an expanding corridor with multiple mineralized zones. To date, drilling has outlined a 1-kilometer gold strike, which remains open in several directions, situated 5km west of the Cadia Valley project.
The company is expanding reverse circulation (RC) and diamond drilling (DD) at Spur to delineate shallow epithermal gold zones across the corridor and gather data to refine porphyry targets. Current drilling targets two high-value prospects: shallow, high-grade epithermal gold mineralization and associated porphyry gold-copper mineralization. Recent drilling yielded a 100 gram-metre intercept 100 meters down dip from previous drilling, which the managing director considers a great result that highlights significant upside.
Waratah has recommenced work at 40 additional drill sites using a high-capacity RC rig, targeting structural controls on high-grade mineralization at the Spur zone. The ongoing work aims to double the overall strike to 2km, extending into the Consols and Balvenie target areas, where existing data indicates significant potential. Recent high-resolution ground magnetic data has refined the position of the western margin of the main intrusive complex and defined a new wallrock-style porphyry target along strike from an anomaly defined in RC drilling at Dalcoath North. This data has also enhanced the significance of known mineralization at the Breccia West prospect, where historical drilling intersected 108m at 0.52% copper.
