Waratah Minerals Completes Acquisition of Ironclad Mining Lease in New South Wales; Shares Fall 5%

MT Newswires Live

Jul 07

Waratah Minerals (ASX:WTM) completed the acquisition of the Ironclad Mining Lease, a "high-priority" gold target along strike from its Spur and Consols gold discoveries, according to a Tuesday Australian bourse filing.

The company said diamond drilling is currently underway at Ironclad, testing the highest priority targets, with the drilling fleet to be expanded to 12 rigs to accelerate testing of Ironclad alongside its current multi-rig drilling strategy at the Spur Project.

Waratah plans to complete a detailed review of historical work and targeting studies, alongside on-ground exploration, including ramped-up drilling activity, detailed multi-element soil and rock chip geochemistry, the filing added.

The company's shares fell almost 5% in recent Tuesday trade.

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