Business · Energy & Commodities · 1 hr ago
Waratah Minerals finds shallow gold in first Goldenclad drill hole
Waratah Minerals found broad, shallow gold in its first drill hole at Goldenclad, part of the Spur project in New South Wales.
The hole returned 83 metres grading 1.27 grams of gold per tonne from 6 metres below the surface, including 42 metres at a higher grade.
Goldenclad is the fourth mineralised position identified along the company’s interpreted 6-kilometre gold corridor, joining Spur, Consols and Ironclad.
The company believes these positions could be part of a larger connected gold system, but exploration results do not establish how much gold can be mined.
Assays so far cover only the first 100 metres of a diamond hole that had reached 443 metres and was still being drilled towards about 500 metres.
Waratah has also started a second hole at Goldenclad, targeting an area called Wollard’s Reef.
Deeper results and the second hole will help test the prospect’s potential, while Waratah has an option to acquire the company that owns Goldenclad’s three mining and gold leases.
Waratah Minerals reported 83 metres grading 1.27 grams of gold per tonne from 6 metres in its first drill hole at Goldenclad, in New South Wales.
The interval includes 42 metres at 2.23 grams per tonne from 12 metres.
Goldenclad is about one kilometre along strike from the company’s drilling focus at Consols.
The result adds a fourth mineralised position along Waratah’s interpreted six-kilometre gold corridor.
Assays cover only the hole’s upper 100 metres, while drilling was continuing towards a planned depth of about 500 metres.
- Who
- Waratah Minerals, which is exploring the Goldenclad prospect.
- What
- Its first Goldenclad drill hole returned 83 metres at 1.27 grams of gold per tonne from 6 metres, including 42 metres at 2.23 grams per tonne.
- When
- The result was reported on 20 October 2026.
- Where
- Goldenclad, part of Waratah’s Spur project in New South Wales.
- Why
- The company is testing the potential of a broader gold system along its interpreted corridor. The sources do not state a specific reason for the drilling.
This story does not have two clearly opposing sides.
Waratah reported results from its first Goldenclad drill hole.
The hole had reached 443 metres and was continuing towards a planned depth of about 500 metres.
Waratah had started a second Goldenclad diamond hole targeting Wollard’s Reef before drilling south across the Ironclad lease.
- First Goldenclad hole
- 83m at 1.27g/t gold from 6m
- Higher-grade interval
- 42m at 2.23g/t gold from 12m
- Goldenclad’s position
- About 1km along strike from Consols
- Interpreted gold corridor
- 6km long
- First hole depth at reporting
- 443m; planned depth about 500m
What people are saying
To intersect 83 metres of gold mineralisation commencing just six metres from surface, including 42 metres at 2.23 g/t gold, from only the first 100 metres of the hole is an extremely encouraging start
We are beginning to see compelling evidence of the broader opportunity across this gold system, with multiple mineralised positions extending from Spur through Consols and now Goldenclad.