Nexus Minerals intersects mineralisation in Wallbrook gold project exploration

• 2,000m diamond drilling program progressing at the Wallbrook gold project
• Six holes completed at Payns deposit
• Drill rig now at the Branches deposit
• Crusader–Templar new-lodes and the Amand prospect drilling to follow

Nexus Minerals (ASX: NXM) is gaining confidence in its Wallbrook gold project as drilling progresses approximately 140km northeast of Kalgoorlie in WA.

The project, located immediately north of Northern Star Resources’ (ASX: NST) Carosue Dam operations, hosts a combined mineral resource estimate (MRE) containing 631,000 ounces across the Crusader-Templar, Payns and Branches deposits.

“Diamond drilling continues to progress at Wallbrook with the completion of the Payns holes,” MD, Andy Tudor, said.

“Drill core is reconciling well visually with our resource model, giving us further confidence in the geological model underpinning the Payns resource. We look forward to the first assays in December as the rig moves through Branches, Crusader-Templar and Amand.

“With currently 631,000 ounces immediately north of Carosue Dam, we remain very positive on Wallbrook’s development potential and are excited by the opportunities emerging across the region. We will continue to engage with potential partners to secure a development pathway that delivers the best outcome for shareholders.”

The approximately 2,000m diamond drilling program underway is being completed across the Payns, Branches, Crusader-Templar new lodes and Amand prospect.

The program follows on from the recently upgraded combined Wallbrook mineral resource estimate which saw a 108% increase of ounces.

The diamond drilling aims to provide the necessary information to re-classify components of Payns and Branches models, whilst increasing orebody knowledge at newly added components of the Crusader-Templar Deposit to support future growth and classification.

Diamond drilling at the Amand prospect will provide the geological information including structural data to allow for efficient future RC resource definition drilling.

Diamond drilling at Payns is now complete with geological logging showing the Payns holes intersected the targeted mineralised zones where predicted by the MRE modelling.

The drill rig has now moved to the Branches Deposit, with Crusader-Templar and Amand to follow.

Drill holes are being sampled to geological boundaries or otherwise at nominal one-metre intervals across each hole, with samples progressively submitted to the laboratory for Chrysos PhotonAssay analysis for gold. Bulk density and structural measurements will be extensively collected throughout the program to support program aims.

Mineralisation intersected at Payns has geologically reconciled well with the current combined MRE.

NXM was up 3.33% to 3.1¢. Mkt cap $18.11M.

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