Highlights

  • Assays received for drill hole SPD01G, confirming four higher-grade gold zones within a broad mineralised envelope located 80m east of previous drilling. 74m @ 1.6g/t Au from 453m
  • Including 27m @ 2.35g/t Au from 475m
  • Including 5.4m @ 8.46g/t Au from 513.6m
  • Including 18.15m @ 2.0g/t Au from 567.85m
  • Including 12m @ 3.25g/t Au from 862m
  • Seven drill rigs are currently in operation, with two deployed at the Spur Zone and five dedicated to expanding the wide, high-grade intercepts at the newly discovered Consols Zone.
  • WTM Share Price Structure Turns Positive Following Rebound from Key Horizontal Trendline Support.

Waratah Minerals Limited (ASX: WTM) surged about 7% on Monday after reporting strong drill results from its 100%-owned Spur Gold Project (EL5238) in New South Wales. Assays from six diamond holes confirmed significant gold intercepts across the Spur and newly identified Consols Zones, supporting efforts to expand mineralisation and unlock new high-grade discoveries beyond known areas.

Waratah Minerals Shares Climb on Positive Drilling Update

Waratah Minerals Limited continues to deliver strong drilling results from its 100%-owned Spur Gold Project in NSW, highlighting rapid expansion at both the Consols and Spur Zones. At Consols, step-out drilling has extended mineralisation 80m east, confirming multiple high-grade shoots, including standout intercepts such as 1m @ 110g/t Au and 74m @ 1.6g/t Au, with higher-grade internal zones. Five rigs are actively expanding this growing gold system.

At Spur, infill and extension drilling on 50m spacing continues to define shallow high-grade zones, returning broad intercepts including 227m @ 0.62g/t Au and high-grade hits up to 45.27g/t Au. Seven rigs remain active, reinforcing the scale and continuity of this rapidly expanding gold system.

Waratah Minerals Breakout – Start of a Bigger Move?

From a technical standpoint, WTM is holding firmly above its horizontal trendline breakout zone while consolidating near its 52-week high. The breakout was supported by strong trading volumes, reinforcing the validity of the move and indicating sustained bullish momentum. The former resistance level is now acting as reliable support, strengthening the overall structure. As long as the stock continues to trade above this key zone, the prevailing uptrend is likely to remain intact.

WTM remains above its 21-period SMA, reflecting continued near-term strength. The RSI at 57.02 signals strong bullish momentum, though it approaches overbought territory. On the upside, immediate resistance is seen near AUD 0.80, followed by AUD 0.87, which could act as key supply zones.

Bullish Bias Firm as Critical Support Holds

Waratah Minerals Limited (ASX: WTM) maintains a bullish outlook supported by strong drill results from the Spur Gold Project and a solid technical setup. The stock has broken key resistance, trades above its 21-period SMA, and holds firm above its breakout zone. While RSI signals strong momentum, resistance near AUD 0.80–0.87 may cap near-term gains.