Gold explorer Waratah strikes 3.1 million ounces in NSW discovery
Waratah Minerals found 3.1 million ounces of gold at its Spur project in NSW.
Waratah Minerals announced the resource at 82.9 million tonnes grading 1.2g/t gold across 2 kilometres of the 6km-long Spur corridor. The company also flagged a broader exploration target of 5.1 to 10.4 million ounces.
Waratah has 12 drill rigs on site with 50,000 metres of drilling planned in the next six months. Acorn Capital's Rick Squire called Waratah an exception to gold developers struggling in a volatile market, noting it is not a small company.
- 3.1 million ounces
- Maiden resource
- 82.9 million tonnes at 1.2g/t
- Gold grade and tonnage
- 5.1 to 10.4 million ounces
- Exploration target
- US$14.62
- Discovery cost per ounce
Why it mattersA low-cost gold discovery near an operating Newmont mine could unlock mining at scale, making it attractive to larger producers or strategic buyers.
AustraliaAn Australian gold discovery at commercial scale supports investment in NSW resources and may sustain junior exploration sector momentum when commodity prices stabilise.
✓ Claims checked against the source. checked 4 h ago
