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Highlights
- Nexus Minerals reports promising results from its latest drilling efforts.
- Expanded mineralized zones mark significant progress at the Wallbrook Gold Project.
- Well-funded with A$5.17 million, Nexus prepares for upcoming drilling programs.
Nexus Minerals Ltd, trading as (ASX:NXM), recently announced the successful expansion of its gold mineralization footprint at the Wallbrook Gold Project, located in Western Australia. The latest aircore drilling results have not only expanded the known mineralized areas but also set the stage for the next phase of exploration.
The completion of a substantial drilling program, consisting of 313 aircore holes across 11,691 meters, has provided Nexus with a full set of data that bolsters the geological potential of the Wallbrook project. As the results roll in, the company is gearing up to launch another aircore drilling campaign by mid-April, promising a rapid continuation of exploration activities.
Significant assay results from the program have further delineated the mineralized zones within the project. Notable gold intersections at the MC2.1 target now extend over an area of 650 meters by 250 meters. Some of the standout intersections include 4 meters at 1.73 grams per ton (g/t) of gold from a depth of 36 meters, and similarly impressive results from other nearby intervals. These recent findings build on earlier high-grade discoveries at the same site, enhancing the overall prospectivity of the area.
The MC2.1 target, part of the Clement Prospect, has seen substantial development with previous reverse circulation (RC) drilling yielding high-grade intercepts such as 2 meters at 5.57 g/t gold from 71 meters. This ongoing expansion of the mineralized footprint underscores Nexus’s strategic exploration efforts, which focus on delineating and extending known gold zones.
At the Payns prospect, also within the Wallbrook project, drilling has unearthed significant gold grades, including 4 meters at 7.12 g/t from just 8 meters depth. These results highlight the high-grade nature of the gold deposits Nexus is targeting, reinforcing the project's potential to host economically viable resources.
Looking ahead, Nexus is well-positioned financially with A$5.17 million in cash reserves as of the end of the March quarter, supporting its exploration initiatives. The company's forward plan involves detailed RC drill target planning, which is currently underway, and aims to further define and expand the resource base at Wallbrook.
Nexus’s commitment to a systematic exploration strategy at its highly prospective tenement package in the Eastern Goldfields of Western Australia remains robust. The consolidation of the Wallbrook Gold Project through the strategic acquisition of surrounding tenements continues to enhance the project’s scale and potential, making Nexus a noteworthy entity in the region's mining landscape.
