Waratah Minerals Extends Spur Corridor With 83m Gold Intercept at Goldenclad

Waratah Minerals has intersected broad, near-surface gold mineralisation in its first drill hole at Goldenclad, extending the exploration footprint of its Spur project in New South Wales. Partial assays from the upper 100 metres returned 83m at 1.27 grams per tonne gold from 6m below surface, including a 42m interval at 2.23g/t from 12m, TradingView reported. Waratah Minerals is a pre-revenue Australian mineral exploration company advancing gold and copper projects in the Lachlan Fold Belt, the Stawell Gold Corridor and Western Australia.

Goldenclad Adds a Fourth Position to the Spur Corridor

The broad intercept was recorded directly beneath historical surface workings, with narrower zones including 6m at 3.75g/t from 26m and 8m at 4.83g/t from 46m. Visible gold was evident in veins associated with quartz, chlorite, pyrite, and carbonate-sulphide mineralisation, while strongly weathered material was encountered in the upper portion of the hole.

Goldenclad lies approximately one kilometre along strike from the Consols Zone, where Waratah has concentrated recent drilling, and sits among numerous historical gold workings near the margin of the Cargo Intrusive Complex. The result adds a fourth mineralised position to a 6km corridor encompassing Spur, Consols, Ironclad, and Goldenclad.

A previous hole drilled approximately 5m away intersected 48.3m at 1.65g/t from 16.5m, including 35.26m at 2.19g/t. The intervals are downhole lengths rather than established true widths, although Waratah considers the generally subvertical mineralised zones likely to exceed 80% of the reported downhole thicknesses.

Managing director Peter Duerden said: "This is an outstanding result from Waratah's very first drill hole at Goldenclad." He added that Goldenclad "has immediately emerged as an important new exploration opportunity for Waratah and adds another dimension to the scale potential of the broader project."

Waratah's Funding Record for Spur Drilling

According to akta.pro company records, Waratah raised approximately A$48 million in a 2026 placement to fund an expanded drilling campaign at the Spur gold-copper project in NSW's Lachlan Fold Belt. The same records show a A$30 million placement in August 2025 for extensional and resource drilling at Spur, and A$8.4 million in May 2025 to accelerate exploration at the project.

Earlier Drilling Results at Spur and Consols

In September 2026, Waratah Minerals shares rose up to 34.7% to A$0.815, its highest since March 6, after the company reported its best drilling result at the Spur gold discovery in New South Wales, The future of trading reported. In July 2026, Waratah Mining Co. presented at the Noosa Mining Conference 2026, outlining its gold exploration progress in the Macquarie Arc region and highlighting strong drilling results at its Spur and Consols discoveries, according to Investing.com.

Deeper Drilling Continues at Goldenclad

Only the first 100m of Goldenclad hole GCD001 has been assayed, leaving most of the planned approximately 500m drill hole yet to be evaluated. A second hole, GCD002, has been collared on the western side of the Goldenclad trend to test the previously undrilled Wollard's Reef and continue south towards the Ironclad lease. The wider Spur program also includes ongoing drilling at Spur and Consols, with several completed holes awaiting assay results.