Kalkine: Nexus Minerals Expands Payns Drilling Scope at Wallbrook; Eyes RC Results Amid ASX 200 Strength

Highlights

• Nexus Minerals (ASX:NXM) continues drilling at Payns within the Wallbrook Gold Project in Western Australia

• The program focuses on delineating near-surface mineralisation zones across the Norseman-Wiluna Belt

• Exploration coincides with ASX 200 momentum and interest in gold sector activity

Nexus Minerals (ASX:NXM), operating in the gold exploration sector, has initiated a new drilling campaign at the Payns prospect within the Wallbrook Gold Project in Western Australia. This development arrives as the broader Australian market, including the ASX 200, tracks positively across mining and resource sectors. Located in the Norseman-Wiluna Archaean Greenstone Belt, Payns is gaining attention as a site of concentrated exploration work.

The Wallbrook Gold Project spans an extensive landholding and is part of Nexus’s larger focus on Western Australian mineral belts. Earlier programs across the site had identified gold-bearing structures, which the company is now aiming to investigate further through reverse circulation drilling.

Ongoing Reverse Circulation Drilling at Payns

The current drill program includes a substantial reverse circulation campaign aimed at evaluating previously defined mineralised gold zones. Nexus had conducted aircore drilling in late 2024 and earlier this year, which revealed strong mineralisation signatures in shallow subsurface layers. This latest phase will examine the scale and structure of these formations with greater resolution.

The company has outlined that the objective is to define continuity and geometry across the gold-enriched zones. Geological modelling remains a key focus of the initiative, with data from this round of drilling expected to inform future exploration and strategic planning. Nexus Minerals has positioned this campaign as an important component of its broader regional development strategy.

Strategic Location Along Strike of Major Operations

According to the company, Payns is strategically situated along strike from major operating deposits held by Northern Star Resources (ASX:NST), one of the region's prominent producers. This location has helped guide ongoing exploration priorities, especially where structural trends and lithological similarities are evident.

The geological context of the Norseman-Wiluna Belt supports a long history of gold production, with multiple active mining centres in proximity. Nexus Minerals has focused its attention on near-surface zones that may correlate with broader mineralised systems mapped elsewhere in the region. The drilling campaign underway is being conducted systematically, with detailed core analysis and model refinement set to follow.

Broader Exploration Portfolio Across States

Beyond Wallbrook, Nexus maintains interests in other jurisdictions, including assets in New South Wales and Victoria. These projects span gold and critical minerals, as well as copper-gold porphyry systems. The company’s multi-region approach reflects the varied geological endowments of Australia’s mineral basins.

Activities at Payns come amid a backdrop of changing global dynamics for gold. Supply levels have grown across major producers, while consumption patterns have shifted between investment and jewellery demand. Australia, alongside other regions, is projected to continue contributing to output gains through both existing operations and exploration-stage progress.

Market Momentum Follows Global Developments

The current activity at Payns aligns with broader global mining trends, where sustained interest in precious metals is reflected in continued exploration and production efforts. Nexus Minerals (ASX:NXM) remains engaged in enhancing geological understanding through advanced drilling programs and ongoing assessment of exploration results.

With the ASX 200 maintaining steady ground and gold sector companies experiencing renewed focus, the development of Payns remains a key chapter in the company’s fieldwork schedule. Nexus has outlined a timeline that places assay results within the next reporting period, with updates expected as drilling concludes and analysis advances.