The Chinese translation is being made; the original is shown for now.
Waratah Minerals has appointed executive chair Andrew Stewart as managing director, with Peter Duerden transitioning to a strategic exploration advisory role following the company’s maiden 3.1-million-ounce gold resource estimate at its Spur project in New South Wales.
The leadership changes mark a new phase for Waratah as it shifts towards resource expansion, technical studies and longer-term project development.
Stewart will assume responsibility for the company’s broader corporate and strategic direction, while retaining his executive chair position.
Duerden, who oversaw Spur’s progression from an exploration prospect to a significant gold discovery, will remain involved as strategic advisor to the board on exploration.
“The maiden mineral resource at Spur represents a major milestone for Waratah and provides a natural point to evolve the company’s leadership structure as we enter our next phase of growth,” Stewart said.
“Peter has made an exceptional contribution to Waratah. His geological expertise, strategic vision and leadership have been instrumental in transforming Spur from an exploration concept into a significant gold discovery and maiden mineral resource.”
In Duerden’s eyes, what he described as the “accelerated delivery” of this maiden mineral resource is a reflection of the strength of the exploration model and Waratah’s mining and exploration capability.
“The timing is right for this leadership transition,” he said.
“I remain highly enthusiastic about the future of Waratah and the Spur gold project and look forward to continuing to contribute as a strategic advisor to the board on exploration.”
The restructure follows Waratah’s announcement of a maiden 3.1-million-ounce resource at Spur, comprising 82.9 million tonnes grading 1.2 grams per tonne (g/t) gold across the Spur and Consols zones.
The estimate covers approximately 2km of the project’s 6km priority gold corridor, with Waratah targeting further growth towards five million ounces.
More recently, drilling between Spur and the historic Essex Mine has identified additional mineralisation beyond the existing resource footprint, supporting the company’s interpretation of a larger gold system.
Two drill holes returned 170.6m at 0.61g/t gold and 157m at 0.57g/t, reinforcing the potential to connect mineralised zones across the broader project.
Meanwhile, Waratah has strengthened its executive, financial and exploration capabilities through several appointments.
Naomi Scott will transition from non-executive director to executive director, overseeing sustainability, governance and stakeholder engagement.
Michele Muscillo has been appointed non-executive director, bringing corporate law and transaction experience, while Adrian Margiotta will commence as chief financial officer on November 23.
The company has also appointed Mathew Brown as head of exploration, drawing on more than 25 years of experience across gold and copper exploration, development and mining.
“The appointments of Michele, Adrian and Mathew further strengthen our governance, financial and exploration capability,” Stewart said.
“Together, these changes position Waratah to deliver its priorities through coordinated exploration, disciplined capital management and systematic project advancement.
“Our strategy is clear: grow the Spur resource, pursue further discoveries and progressively advance the project.”
Waratah currently has 12 drill rigs operating across the Spur corridor, with approximately 50,000m of drilling planned over the coming six months.
The company will also progress technical and development studies as it evaluates further resource growth and development opportunities.
“We are building the team and corporate capability required to support Waratah’s continued growth and realise the long-term value of the Spur gold project,” Stewart said.
Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.