Waratah Minerals (ASX:WTM) said it intersected high-grade gold mineralization during recent drilling at its Spur gold project in New South Wales, according to a Wednesday Australian bourse filing.

The results were of up to 55.9 meters at 2.63 grams per tonne gold from 3.1 meters, including 31.9 meters at 4.45g/t gold from 12.1 meters.

The company said the results have extended shallow mineralization, defining a 500-meter-wide corridor south of the Essex Fault within the wider six-kilometer-long priority target zone at the margin of the Cargo Intrusive Complex, with updates from drilling at Consols and initial reverse circulation results from Gazzards expected later this month.

The company's shares rose 10% in recent Wednesday trade.