Announcement Date: 2022-07-26
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Nexus Minerals Ltd.
Project name: Wallbrook
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 33m @ 2.96g/t Au from 110m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Nexus Minerals Limited (ASX: NXM) (Nexus or the Company) is pleased to announce further significant broad high-grade gold assay results from drilling completed at the Crusader – Templar Prospect, within the Company’s Wallbrook gold project in the eastern goldfields of WA. Nexus drill campaigns have concentrated on a mineralised corridor 1.6km in length and some 300m wide, with the drilling being undertaken on granted mining tenements. The highly prospective tenure is situated between Northern Star’s operating Porphyry mining centre and its multi-million ounce Carosue Dam mining operation – where Northern Star’s 3.2 million tonne per annum gold processing plant is located. The Crusader-Templar drilling has successfully shown the mineralisation to be continuous along the full extent of the 1.6km mineralised corridor tested to date, with multiple sub-vertical sheeted mineralised porphyry units being mapped effectively. The strong continuity of mineralisation associated with these sub-vertical porphyry units allows for effective drill targeting of the mineralised zones. Drilling at the most northern end of the Crusader-Templar prospect has been focussed on the detailed 20mx20m pattern drilling of the oxide component of the mineralisation down to ~100m. This targeted shallow drilling has been designed to allow the detail required for inclusion in a mineral resource estimate and pit design optimisation studies, to be undertaken on any potential shallow oxide resource. Previous metallurgical test work (see ASX release 25/01/2022) on this oxide material returned positive results with gold recoveries of 98% being achieved.
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