Waratah Minerals Extends Consols Gold Zone on Three Sides With 17m at 4.10g/t Hit
Key Takeaways
- Five extensional holes have pushed the Consols Gold Zone outward on its northern, eastern and western margins, both laterally and vertically.
- SPD089 returned 17 m @ 4.10 g/t Au from 944 m, including 2 m @ 28.70 g/t Au, extending mineralisation beneath existing drilling.
- SPD083A hit 9.86 m @ 6.71 g/t Au within 70 m @ 1.71 g/t Au, while SPD047W1 intersected a broad 167 m @ 0.91 g/t Au from 485 m.
- Early metallurgical work indicates gold recoveries above 89% by gravity and conventional leaching, with true widths likely over 80% of downhole lengths.
- No Mineral Resource has been defined, and the next catalysts, assays from SPD092 and SPD097 plus four active holes, have no disclosed timelines.
Consols growth accelerates as five holes extend mineralisation on three margins
Results from five extensional holes (SPD047W1, SPD082, SPD083A, SPD089 and SPD090) have extended the Consols Gold Zone on its northern, eastern and western margins, both laterally and vertically, according to a 14 October 2026 update from Waratah Minerals (ASX:WTM). The company says the drilling also identified additional mineralisation closer to surface and beneath existing drilling.
The standout intercepts, all reported in grams per tonne of gold (g/t Au), were:
- 9.86 m @ 6.71 g/t Au from 710 m (SPD083A, within 70 m @ 1.71 g/t Au from 666 m)
- 17 m @ 4.10 g/t Au from 944 m (SPD089, within 31.9 m @ 2.37 g/t Au from 931 m)
- 167 m @ 0.91 g/t Au from 485 m (SPD047W1)
What this tells you is that the Consols results combine broad mineralised envelopes with higher-grade cores, and the company says mineralisation remains open. That mix matters because wide zones add volume while richer zones lift the average value.
Peter Duerden, Managing Director, Waratah Minerals
“These latest results continue to demonstrate the remarkable continuity and scale emerging at the Consols Gold Zone…”
“…the combination of broad mineralised envelopes and higher-grade zones reinforces our view that Consols is evolving into a significant gold system and remains open for further growth.”
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Hole-by-hole results across the Consols margins
Results at a glance
The table below summarises the headline intercepts for each hole, using the announcement’s own figures.
| Hole | Margin | Headline intercept | Wider envelope | Significance |
|---|---|---|---|---|
| SPD047W1 | Northern | 13.6 m @ 2.17 g/t Au from 556.4 m and 11 m @ 2.32 g/t Au from 583 m | 167 m @ 0.91 g/t Au from 485 m | Extends mineralisation closer to surface |
| SPD083A | Central | 9.86 m @ 6.71 g/t Au from 710 m | 70 m @ 1.71 g/t Au from 666 m | Confirms strong continuity within the core of the system |
| SPD082 | Western | 10 m @ 3.20 g/t Au from 557 m | 34 m @ 1.51 g/t Au from 556 m | Continuity of FW1 and FW2 domains |
| SPD090 | Eastern | 9 m @ 3.11 g/t Au from 499 m and 7 m @ 3.7 g/t Au from 743 m | 60.65 m @ 1.08 g/t Au from 478 m and 101 m @ 0.71 g/t Au from 672 m | Vertical continuity over 200 m with SPD074 and SPD089 |
| SPD089 | Eastern | 17 m @ 4.10 g/t Au from 944 m | 31.9 m @ 2.37 g/t Au from 931 m | Extends mineralisation beneath existing drilling |
Northern and central Consols
SPD047W1 returned 13.6 m @ 2.17 g/t Au from 556.4 m and 11 m @ 2.32 g/t Au from 583 m, within the 167 m @ 0.91 g/t Au envelope. The hole extended its parent hole SPD047 deeper after mineralisation was found at depth in SPD031, and it helps expand a new zone of mineralisation.
SPD083A, collared 100 m south of SPD048, continues to develop the high-grade FW1 and FW2 mineralisation. Its FW2 intercept includes the 9.86 m @ 6.71 g/t Au result.
Western and eastern margins
SPD082 on the western margin returned 10 m @ 3.20 g/t Au from 557 m within 34 m @ 1.51 g/t Au from 556 m. The company says it provides important shallow mineralisation in the hanging wall of the Cothi Fault and helps prove strike continuity for the footwall zones.
On the eastern margin, SPD090 returned 9 m @ 3.11 g/t Au from 499 m and 7 m @ 3.7 g/t Au from 743 m. With SPD074 and SPD089, it provides vertical continuity over 200 m of high-grade mineralisation.
SPD089 extends mineralisation beneath existing drilling, including 2 m @ 28.70 g/t Au from 948 m inside the 17 m interval.
Why continuity matters in gold exploration
An intercept is the grade of gold, in grams per tonne, averaged over a length of drill core. A result like 17 m @ 4.10 g/t Au means 17 metres of core averaged 4.10 g/t.
Continuity is what turns isolated hits into a body of mineralisation. When similar zones (the company labels them FW1 to FW4) line up across neighbouring holes, it supports the case for a larger, more coherent system.
The company says mineralisation is generally subvertical, and true intervals are likely to be more than 80% of downhole lengths. Intercepts are reported as uncut gold grades, with no top cut applied.
Assays were done by photon assay, which tests a 500 g sample against 50 g for fire assay. Early Consols metallurgical results (ASX 16/9/26) indicate gold recoveries of more than 89% by gravity and conventional leaching.
For you, this strengthens the exploration story, but the limits are clear. The announcement states there has been insufficient exploration to define a Mineral Resource, and it is uncertain if further exploration will result in one.
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What’s next for Consols and the Spur Project
Mineralisation remains open and drilling is ongoing. The drilling summary lists SPD087A, SPD093, SPD096 and SPD097W1 as active Consols holes, while SPD092 and SPD097 are completed with assays pending.
Management said it is working towards defining the full extent of the system. The announcement also says further exploration drilling is warranted to determine the extent of mineralisation and to fully investigate a link between epithermal and porphyry mineralisation.
Catalysts to watch, none with disclosed timelines:
- Assay results from completed Consols holes SPD092 and SPD097.
- Progress from active Consols holes, including SPD087A, SPD093, SPD096 and SPD097W1.
- Further step-out drilling to test the extent of the system.
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