Waratah Minerals (ASX:WTM) Expands Gold Zones and Porphyry Target at Spur Project
Gold Zone Expansion
Waratah Minerals Limited (ASX: WTM) has announced significant progress in its ongoing drilling program at the Spur Gold-Copper Project located in New South Wales. Step-out drilling along the Dalcoath-Spur-Essex trend has extended gold zones over a distance greater than 1km. Notable results include drill hole SPRC036, which returned 251m at 0.54 g/t gold, including 83m at 0.84 g/t gold from 168m depth.
Identification of Porphyry Target
In addition to extending gold mineralisation, broad zones of porphyry pathfinder anomalism have been confirmed at Dalcoath North. This area shows potential for porphyry mineralisation along the main intrusive complex’s western contact. High-resolution magnetic surveys have outlined a high-priority porphyry target at Breccia West. A second drilling rig is set to mobilise in mid-February 2025 to initiate testing at this promising location.
Future Outlook and Executive Insight
Ongoing drilling at the Spur Project aims to define the extent of shallow epithermal gold mineralisation and establish connections with deeper gold-copper porphyry systems. Waratah’s Managing Director, Peter Duerden, expressed enthusiasm about the drilling successes. “We’re excited to fast-track testing our first porphyry target at Breccia West, supported by recent magnetic data,” he stated.
The exploration strategy aligns with similar successful approaches at major deposits within the Macquarie Arc, indicating strong potential for substantial discoveries at the Spur Project.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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