Waratah Minerals Reports 30.5m at 0.96g/t Gold in Drilling at Spur Gold Project
Key Takeaways
- Nine sonic drillholes at Gum Flat have identified a 150m westward extension of the Spur Gold Zone undercover, expanding the known mineralised footprint beyond previously mapped boundaries.
- GFS007 returned the headline eluvial intercept of 30.5m @ 0.96 g/t Au from 8m, including a high-grade core of 2m @ 9.06 g/t Au, confirming the westward extension carries economic-grade mineralisation.
- GFS009 delivered 50.5m of continuous gold mineralisation from surface through alluvial cover into saprolite, demonstrating vertical extent across the alluvial-basement transition zone.
- Both alluvial paleochannel gold and eluvial weathered-basement gold have been identified, with the dual presence suggesting a nearby primary source feeding the broader system.
- Permitting for follow-up drilling is underway, with additional sonic and core holes planned to test Gum Flat extensions and investigate a potential link to the main Spur Zone — alongside active diamond drilling at Ironclad, Consols, and Spur prospects pending assay results.
Waratah’s Gum Flat drilling points to 150m westward extension of Spur Gold Zone
Sonic core drilling at Waratah Minerals‘ Gum Flat prospect in New South Wales has identified thick alluvial gold and hardrock (eluvial) mineralisation that supports the interpretation the Spur Gold Zone may extend approximately 150m undercover to the west. The results, from nine shallow sonic drillholes (GFS001–GFS009), define a significant new near-surface exploration target and a potential early development opportunity.
For investors, this expands the project footprint beyond the known Spur Zone mineralisation and opens a compelling new target near surface — cheaper and faster to test than deep targets. Shallow gold in both alluvial paleochannels and covered basement rocks tells you the system is larger than previously mapped, and the near-surface depth means lower drilling costs and a shorter path to resource definition if grades continue.
When big ASX news breaks, our subscribers know first
Standout high-grade intercepts from the eluvial zone
The best weathered-basement (eluvial) results drive the westward extension story. GFS007 is the hole that expands high-grade Spur mineralisation 150m westward undercover, encountering broad mineralisation from the base of alluvial deposits into saprolite and andesitic saprock with quartz veins and sulphide veinlets.
Headline eluvial intercepts include:
- GFS007: 30.5m @ 0.96 g/t Au from 8m, incl. 21.4m @ 1.31 g/t, incl. 8.5m @ 2.72 g/t, incl. 3.5m @ 5.70 g/t, incl. 2m @ 9.06 g/t
- GFS005: 19m @ 1.10 g/t Au from 31m, incl. 0.5m @ 8.84 g/t, incl. 4.5m @ 3.25 g/t
- GFS009: 50.5m @ 0.32 g/t Au from surface, incl. 7.5m @ 1.08 g/t, incl. 2m @ 2.87 g/t
GFS009 ran mineralisation from surface through the base of alluvial at 11m into underlying saprolite — over 50m continuous. That depth and continuity matters. It tells you the mineralised system is vertically extensive, not just a shallow skin, and that the transition zone between alluvial and basement is gold-bearing across a broad interval.
| Hole ID | Zone Type | Intercept | Grade (g/t Au) | From (m) |
|---|---|---|---|---|
| GFS007 | Eluvial | 30.5m | 0.96 | 8 |
| GFS005 | Eluvial | 19m | 1.10 | 31 |
| GFS009 | Eluvial | 50.5m | 0.32 | 0 |
| GFS001 | Alluvial | 14m | 0.75 | 9.5 |
| GFS002 | Alluvial | 16.8m | 0.43 | 10.5 |
| GFS006 | Alluvial | 14m | 0.55 | 6 |
Shallow alluvial gold adds a near-surface development angle
The alluvial (paleochannel-hosted) results west of the Gum Flat Fault are encouraging from an early development perspective. Shallow stacked paleochannels — ancient buried riverbeds — are hosting gold in quartz-rich gravel beds that get richer with depth.
Alluvial intercepts include:
- GFS001: 14m @ 0.75 g/t Au from 9.5m, incl. 4.9m @ 1.90 g/t, incl. 1m @ 5.30 g/t — two quartz-rich stacked paleochannels
- GFS002: 16.8m @ 0.43 g/t Au from 10.5m — stacked gravel paleochannels getting richer with depth
- GFS006: 14m @ 0.55 g/t Au from 6m, incl. 5.5m @ 1.02 g/t — gold in quartz-rich sandstone adjacent to main paleochannel
The historical Gum Flat area was mined for alluvial gold over approximately 20 years through surface pitting extending over 2km and underground mining that produced an unknown quantity of gold. Historical results referenced here are pre-JORC (Billiton 1988) and are not reported under JORC 2012 — do not treat historical production as JORC-compliant. What the historical activity does tell you is that shallow alluvial gold existed in economic concentrations at surface. The sonic drilling is now defining what sits beneath that shallow mineralisation — and whether the system extends into covered basement rock.
Peter Duerden, Managing Director
“The results provide an important step in expanding the project’s footprint and improving the Company’s understanding of the wider gold system. Sonic core drilling at Gum Flat has identified hardrock and a thick sequence of alluvial gold that materially strengthens our view of the broader Spur gold system… the results support the interpretation that the Spur Gold Zone may extend a further 150 metres undercover to the west, opening up a compelling new exploration target. The presence of alluvial gold in this setting is also encouraging from an early development perspective…”
Understanding eluvial and alluvial gold — and why it matters
The Gum Flat drilling has identified two mineralisation types:
- Alluvial gold — gold that has been eroded, transported, and concentrated in gravel or paleochannels (ancient buried riverbeds). Typically shallow and often lower cost to extract because it requires no blasting or hard rock processing.
- Eluvial / weathered basement (saprolite) gold — gold in weathered rock near where it originated, sitting above harder primary rock. This is transitional between transported alluvial gold and hard rock primary mineralisation.
The company chose sonic drilling because the host rocks are poorly consolidated. Sonic minimises core loss and provides large samples for reliable assaying — critical when you are trying to understand grade distribution in unconsolidated material. For investors, near-surface, shallow mineralisation can be lower-cost to define and potentially develop. The westward extension undercover means the known system may be larger than mapped, and the dual presence of both alluvial and eluvial gold tells you there is a source nearby feeding the system.
What’s next for the Spur Gold Project
Permitting of follow-up holes is underway. The forward program includes:
- Additional sonic and core drilling planned to test Gum Flat extensions
- Drilling designed to investigate a potential link between Gum Flat mineralisation and the Spur Zone
- Work prioritised alongside broader Spur Project drilling across multiple gold targets
The broader active drilling picture includes multiple diamond holes across Ironclad, Consols, and Spur prospects that are completed pending assays or currently active. This signals ongoing news flow. For investors, continued catalysts ahead support the longer-term resource-definition thesis, and the expanding footprint tells you the system is growing, not contracting, as more data comes in.
The next major ASX story will hit our subscribers first
The investment case
Waratah is defining a growing, near-surface gold system in a proven New South Wales goldfield. The newly opened 150m westward target, high-grade intercepts from both eluvial and alluvial zones, and a steady pipeline of drilling results provide near-term catalysts. The historical mining footprint confirms economic gold existed at surface; the sonic drilling is now defining what sits beneath. Results are early-stage exploration — no Mineral Resource has been defined yet — but the combination of shallow depth, broad widths, and high-grade intervals within those widths tells you the system has scale and grade potential worth testing further.
Get ASX Gold News Before the Market Reacts
Join 30,000+ investors receiving FREE breaking ASX gold alerts delivered within minutes of release, complete with in-depth analysis. Click the “Free Alerts” button at Discovery Alert to start receiving market-moving mining news the moment it breaks.