- Nexus Minerals (NXM) intersects high grade mineralisation at the Templar Project within the Wallbrook gold project in WA
- Results have been received from one diamond drill hole and two reverse circulation holes
- Gold mineralisation at Templar shows the same style as Northern Star’s (NST) Karari Mine
- On the market, Nexus is down 3.45 per cent and is trading at 42 cents per share at 11:27 am AEDT
Nexus Minerals (NXM) has intersected high grade mineralisation from the Templar Prospect, located within the Wallbrook gold project in Western Australia.
The company has received results from one diamond hole and two reverse circulation (RC) holes.
In diamond hole three, drilling intersected broad and high-grade gold. Results include 4.61 metres at 5.78 grams per tonne (g/t).
Results from the two RC holes include four metres at 4.13g/t gold and 8 metres at 1.99g/t gold.
Gold mineralisation at Templar is hosted in the same rocks observed at the Crusader Prospect and Northern Stars (NST) Karari Mine.
Managing Director Andy Tudor said these results were in line with expectations.
“What has significantly exceeded our expectations is the alteration style and mineralisation observed in both diamond drill hole three and the recently completed deeper diamond hole four,” Mr Tudor said.
“They exhibit the same style that hosts the multi-million ounce Karari deposit 30 kilometres to the south. This has now linked the Crusader-Templar alteration and mineralisation style with that of Karari, providing confidence in the potential for the CrusaderTemplar Prospect to evolve into a very large mineralised system.”
Nexus was down 3.45 per cent and is trading at 42 cents per share at 11:27 am AEDT.