Initial geometallurgical testing at the Consols Zone of the Spur Project in New South Wales has returned gold recoveries exceeding 89%, pointing to a simple processing pathway for the gold mineralization.

Waratah Minerals Limited analyzed six composite samples and 25 core samples from Consols using an analytical workflow combining micro-X-ray fluorescence scanning on cut core with traditional gravity separation and diagnostic leaching. The test work demonstrated total gold recoveries ranging from 89% to 93%. Gravity recovery accounted for 4% to 24% of the total, while conventional leaching recovered an additional 68% to 86%.

Mineralogical characterization identified coarse, free-milling gold grains up to 601 micrometres in size, with negligible gold locked within silicates at just 0.4% and an average of 5% associated with sulphides.

These results compare with previous geometallurgical test work from the Spur Zone reported in February 2026, which yielded total gold recoveries of 90% to 97% with a gravity recovery range of 15% to 45%.

“This geometallurgical test work at Consols mirrors results seen from the Spur Zone in February 2026. Multiple domains of gold mineralisation have been tested and are amenable to a simple and standard flow sheet with early gravity recovery followed by conventional leaching. These results are informing an ongoing comprehensive geometallurgical program which will determine grind optimisation, comminution characteristics and the other critical parameters to define the optimal processing pathway for the gold mineralisation”

— Peter Duerden, Managing Director

The metallurgical findings build on Waratah Minerals’ broader consolidation efforts in the district, which included the acquisition of a 100% interest in the Ironclad Mining Lease in July 2026. That lease covers the largest historical mine in the district and adjoins the Spur Project tenure.

The company is conducting further metallurgical testing on three bulk master composites and 20 variability samples to develop a mineral processing flowsheet for the Spur Project.

Read the full announcement: Consols Delivers Strong Gold Recoveries