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Waratah Minerals has identified further gold mineralisation between its Spur deposit and the historic Essex Mine in New South Wales, strengthening the potential to expand its recently announced mineral resource.
New drilling has intersected broad zones of mineralisation outside the existing resource footprint, supporting the company’s interpretation that Spur and Essex form part of a larger mineralised system.
Two drill holes targeting the area between the deposits returned intersections of 170.6m at 0.61 grams per tonne (g/t) gold and 157m at 0.57g/t gold, including higher-grade intervals of 21m at 1.09g/t and 6m at 2.58g/t, respectively.
The results come just days after Waratah announced a maiden mineral resource (MRE) of 3.1 million ounces at 1.2g/t gold across the Spur and Consols zones on 4 November.
The estimate covers approximately 2km of the 6km Spur gold corridor, with the company targeting an increase to five million ounces through further drilling.
Waratah managing director Peter Duerden said the latest results were helping establish the extent of mineralisation beyond the current estimate.
“SPD091A and SPD094 are particularly important because they continue to link the Spur Zone and the historic Essex Mine, with both holes intersecting broad zones of gold mineralisation outside the current MRE,” he said.
“These results strengthen our interpretation that Spur and Essex form part of a larger mineralised system and highlight a clear opportunity for further resource growth.”
Elsewhere at Spur, drilling returned 7.5m at 8.09g/t gold from 191.5m, within a broader intersection of 19.5m at 3.17g/t.
The result extends high-grade mineralisation approximately 100m west of previously drilled areas, adding another potential exploration target beyond the existing resource.
Drilling at the nearby Consols prospect has also extended mineralisation 160m west towards Spur, with a broad intersection of 143.5m at 0.47g/t gold.
Waratah currently has 12 drill rigs operating across the 6km Spur gold corridor, with approximately 50,000m of drilling planned over the next six months to support further resource growth.
Duerden said the company would continue drilling to assess the wider system.
“With 12 rigs operating across the priority 6 km Spur gold corridor, our focus remains on rapidly expanding the mineralised footprint and converting successful drilling into additional resource ounces,” he said.
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