Join our daily newsletter At The Bell to receive exclusive market insights
- Nexus Minerals (NXM) intersects broad, high-grade gold at the Crusader prospect which is part of the Wallbrook Project in Western Australia
- NXM receives results from another three holes that have returned up to 8.8 grams of gold per tonne (g/t) over 14 metres and 21.59g/t gold over three metres
- Mineralisation at Crusader has been extended to over 600 metres of strike and to more than a 500-metre depth
- While Nexus waits for assays from a further eight holes, it’s getting closer to completing a 6000-metre drilling program at the Templar prospect
- Company shares are up 25 per cent to trade at 11 cents at 1:03 pm AEST
Nexus Minerals (NXM) has received assays from another three holes drilled at the Crusader prospect which is part of the Wallbrook Project in Western Australia.
The company is undertaking a diamond and reverse circulation (RC) drilling program at the Crusader prospect to test for depth and strike extensions to existing mineralisation.
The latest results include 14 metres at 8.8 grams of gold per tonne (g/t) including three metres at 21.59g/t gold within 19 metres at 6.57g/t gold from 141 metres, and 24 metres 1.32g/t gold from 144 metres including eight metres at 3.51g/t gold.
These build on the results reported in July which included 10 metres at 6.42g/t gold including one metre at 41.23g/t gold.
Positively for the company, today’s results have extended mineralisation at the Crusader prospect to over 600 metres of strike and down to more than 500 metres deep.
Managing Director Andy Tudor was pleased with the broad, high grades intersected.
“These high grade results from the Crusader prospect have again shown excellent continuity of mineralisation with broad, high-grade gold intersected,” he said.
The company has now received results from 11 RC holes drilled at Crusader and is waiting on assays from a further eight drill holes.
In addition to Crusader, Nexus is progressing drilling at the Templar prospect and has completed about 80 per cent of the 6000-metre RC drilling program.
Company shares were up 25 per cent to trade at 11 cents at 1:03 pm AEST.
