- Nexus Minerals (NXM) develops a geological model for the Crusader-Templar prospect within its WA Wallbrook project following a fresh round of drilling results
- The company has received results for 21 diamond holes completed in the area, striking multiple zones of quartz porphyry along a 1.6-kilometre strike
- Managing Director Andy Tudor says the results deepen the company’s understanding and interpretation of the Crusader-Templar mineralised system
- As such, the results will help inform future exploration work in the Wallbrook project area, which includes planned reverse circulation (RC) drilling at Crusader-Templar early in 2023
- Shares in Nexus Minerals are down 4.55 per cent to 21 cents at 11:48 am AEST
Nexus Minerals (NXM) has developed a geological model for the Crusader-Templar prospect within its WA Wallbrook project following a fresh round of drilling results.
The company said it had now received results from 21 diamond holes recently drilled at the prospect, which lies near Kalgoorlie, with assays only outstanding for two more holes.
The drilling so far has struck multiple zones of mineralised, altered and silicified quartz porphyry along a 1.6-kilometre strike.
Assays include a 1.5-metre hit at 8.3 grams per tonne (g/t) gold within a 3.5-metre zone grading 3.96 g/t gold from 218 metres, as well as a three-metre intersection at 4.18 g/t gold within a 5.8-metre zone grading 2.36 g/t gold from 293.6 metres.
Nexus Managing Director Andy Tudor said the information gained from this diamond drilling work had provided a “step change” in the company’s geological understanding and interpretation of the Crusader-Templar mineralised system.
“The diamond drill holes have intersected multiple zones of gold mineralisation within the same mineralised, altered and silicified quartz porphyry rock unit intersected in our previous shallow RC drill program,” Mr Tudor said.
“The results have enabled Nexus to create a geological model which will allow for more targeted future drill program planning.”
Looking ahead, Nexus said these results would help inform its upcoming exploration activities, which include a reverse circulation (RC) drilling program at Crusader-Templar, currently slated for the first quarter of 2023.
Nexus is also planning RC drilling at the Branches discovery within the project area, as well as an aircore drilling program across regional Wallbrook targets to be supported by geophysical program results.
Shares in Nexus Minerals were down 4.55 per cent to 21 cents at 11:48 am AEST.