Waratah Minerals Intersects Shallow Gold Mineralized Zone at New South Wales Prospect; Shares Up 4%

MT Newswires Live10:47

Waratah Minerals (ASX:WTM) intersected a broad zone of shallow gold mineralization at the Goldenclad prospect, located about one kilometer along strike from the Consols zone at the Spur project in New South Wales, according to a Tuesday filing with the Australian bourse.

Partial assay results from the first drill hole returned 42 meters at 2.23 grams per tonne (g/t) grade of gold from 12 meters, within 83 meters at 1.27 g/t grade of gold from 6 meters, the filing said.

Drilling is continuing, with the first drill hole planned to test to more than 500 meters, targeting further potential structures found in ground magnetic data, per the filing.

Shares rose 4% in afternoon trade Tuesday.

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