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Highlights
- Nexus identifies extensive gold mineralisation at Payns Prospect
- First RC drill program confirms consistent mineralised zones
- Further sampling and analysis underway to guide next steps
Nexus Minerals (ASX:NXM) has confirmed the presence of gold mineralisation at the Payns Prospect, a part of its Wallbrook Gold Project in Western Australia, following the completion of a 5,172-metre reverse circulation drilling program. Although Nexus is not part of the ASX 200, updates like this can be of interest to investors monitoring developments through the ASX 200 share price, as gold exploration continues to draw attention across the resource sector.
The program involved 46 drillholes aimed at following up results from an earlier aircore campaign. Nexus has now confirmed a significant mineralised zone extending across a large footprint, with continuity observed both along strike and down plunge. The mineralisation remains open in multiple directions, indicating further scope for exploration.
Of the 46 holes drilled, 45 intersected gold mineralisation, highlighting consistency across the drilled area. These findings build on earlier results and provide a clear foundation for future exploration planning. Intersections from this campaign include multiple notable gold-bearing intervals, reaffirming the presence of mineralisation across varying depths and locations within the prospect.
Currently, Nexus is focused on analysing one-metre split samples from the recent drill program. These more detailed assays are expected to help define areas of higher-grade mineralisation. Results from this laboratory work are anticipated in the coming weeks and will inform the next phase of drilling activity.
In addition, a multi-element litho-geochemical analysis is underway. This data will assist in refining the geological understanding of the area and support the identification of key structural and geochemical controls for targeting further exploration.
The Payns Prospect has previously delivered encouraging outcomes through aircore drilling, and the latest reverse circulation results further add to the understanding of the mineralised system. Nexus is preparing for additional drilling, including infill to improve data density within the known mineralised zone, and step-out drilling to explore extensions.
As part of its broader exploration strategy, Nexus aims to expand the mineralised envelope at Wallbrook through systematic programs. The continued work at Payns is a key part of this approach, contributing to the company's focus on defining near-surface gold resources.
