- Nexus Minerals (NXM) intersects near-surface high-grade gold mineralisation through drilling at the Branches prospect in WA
- A 26-hole program tested the prospect and successfully intersected mineralisation with the same features that host mineralisation at Nexus’ nearby Crusader-Templar prospect
- Managing Director Andy Tudor says the high-grade results are “extremely positive” and is pleased with such success at the first prospect tested outside of Crusader-Templar
- The Branches prospect is now defined over 650 metres of strike and is open in all directions and Nexus plans to conduct further drilling to explore for more mineralisation
- NXM shares are up 2.17 per cent to trade at 23.5 cents at 10:46 am AEST
Exploration drilling at Nexus Minerals’ (NXM) Branches prospect has intersected near-surface high-grade gold mineralisation.
The Branches prospect can be found within the company’s Wallbrook gold project, 140 kilometres northeast of Kalgoorlie in Western Australia.
The prospect sits on the mineralised corridor 1 (MC1) that has been defined over five kilometres by 300 metres and remains completely open as well as untested to the north.
A total of 26 reverse circulation holes were drilled, for 3750 metres, at Branches to step out and explore mineralisation to the north-northeast of previous drilling and infill known mineralisation to better understand the style.
Positively for the company, drilling achieved its objectives and intersected mineralisation associated with sheared and hematite altered mineralised quartz porphyry units – “the right rocks”, which are the same rocks that host gold mineralisation at the nearby Crusader-Templar prospect.
These are also the same rocks that host mineralisation at Northern Star’s multi-million ounce Carosue Dam gold project a further 30 kilometres to the south.
The latest results include 10 metres at 3.33 grams per tonne (g/t) gold from 115 metres including four metres at 7.23 g/t gold, and 27 metres at 1.16 g/t gold from 26 metres including eight metres at 3.65 g/t gold.
These build on previous high-grade results from Branches of eight metres at 11.37 g/t gold from 118 metres including five metres at 17.91 g/t gold, and 25 metres at 2.86 g/t gold from 43 metres including eight metres at 7.59 g/t gold.
Mineralisation at the Branches prospect is now defined over 650 metres of strike and is open in all directions.
Nexus Minerals Managing Director Andy Tudor said the results are “extremely positive”.
“This early success in testing the first prospect outside of our Crusader-Templar prospect, really opens up the opportunity of the four mineralised corridors to host significant gold mineralisation,” he said.
There are three parallel potential gold mineralised corridors (MC2, MC3 and MC4) which lie to the east of the Crusader to Branches prospects’ MC1 corridor and are yet to be tested.
NXM shares were up 2.17 per cent to trade at 23.5 cents at 10:46 am AEST.