Key Highlights

  • Drilling at the 100%-owned Spur Gold Project has defined a district-scale mineralised corridor of about 6 kilometres.
  • Drill hole SPD075 returned 46 metres at 7.27 g/t gold from 541 metres, described as the best intercept to date.
  • The Consols Gold Zone can now be traced over about 400 metres of east-west strike and 400 metres of vertical extent.
  • The acquisition of the Ironclad Mining Lease was completed, consolidating the Spur Gold District.

Waratah Minerals Limited (ASX:WTM) published its quarterly activities report for the period ended 30 September 2026 on 30 October 2026. The company said it continued its growth and discovery drilling at the 100%-owned Spur Gold Project, where results have extended known mineralisation. The report also confirms that the company completed the acquisition of the Ironclad Mining Lease during the period.

Drilling Results at Consols

Drilling continued to extend known mineralisation at the Consols Zone during the quarter. The company reported drill hole SPD075, which returned 46 metres at 7.27 grams per tonne of gold from 541 metres, and described it as the best intercept to date.

The Consols Gold Zone can now be traced over approximately 400 metres of strike extent in an east-west direction and about 400 metres vertically. The company says these dimensions reflect repeated success in extending the system.

The report describes the drill results as extending the known system in several directions, which the company believes indicates a larger mineralised footprint than previously recognised. Because the work remains at the drilling stage, the report leaves the final size and grade of the system for future assessment.

Corridor and District Consolidation

Waratah has defined what it calls a district-scale mineralised gold corridor of about 6 kilometres at Spur. The company's interpretation is that Spur is a high-grade gold system with substantial expansion potential.

The acquisition of the Ironclad Mining Lease completes the consolidation of the Spur Gold District, bringing all of the historic gold mines in the area under the company's control.

Interpreting the Results

The quarterly report describes the results as consistently extending known mineralisation. Interpretation of the Spur system, including its size and grade, comes from the company's own work, and the report does not present independent review of those views.

Exploration results of this kind are reported as drilling intercepts, which means they show grade and width at specific points rather than a full resource estimate for the district.

Final Word

Waratah Minerals' September quarter shows drilling that continues to extend mineralisation at Spur, with a 6 kilometre corridor now defined and the Ironclad lease secured. The company's view is that the system can grow further, and the figures reported so far relate to drilling intercepts. Subsequent quarterly reports will indicate whether the extensions are confirmed by additional drilling.