Join our daily newsletter At The Bell to receive exclusive market insights
- Nexus Minerals (NXM) strikes “significant” high-grade gold mineralisation from drilling at its Wallbrook gold project near Kalgoorlie in Western Australia
- The results come from a drilling campaign across some key regional prospects within the Wallbrook area
- Managing Director Andy Tudor says the scale of the metal endowment of this mineralised system is “extremely encouraging”
- Five drill rigs are continuing to operate on-site — three RC drill rigs and two diamond drill rigs
- Nexus shares are up 1.61 per cent to 31.5 cents each at 10:17 am AEST
Nexus Minerals (NXM) has struck “significant” high-grade gold mineralisation from drilling at its Wallbrook gold project near Kalgoorlie in Western Australia.
The initial drilling focused on two regional prospects, Branches and Solomon, which lie on a mineralised corridor over five kilometres in length and 300 metres wide.
Meanwhile, Nexus also completed drilling at a newly named prospect, Clement, which lies parallel to Branches and Solomon along another mineralised corridor.
The company said it intersected sheared and hematite altered mineralised quartz porphyry units, which it dubbed “the right rocks”, at all three prospects.
Nexus Managing Director Andy Tudor said the scale of the metal endowment of this mineralised system was “extremely encouraging”.
“To have received such high-grade gold results from this early stage regional drilling, in both near-surface drilling and at a depth of over 200 metres vertically, leads Nexus to believe that we may be sitting on a significant gold camp,” Mr Tudor said.
“Our aggressive exploration strategy continues to reap rewards and on receipt of these stunning results from Branches prospect, a follow-up reverse circulation (RC) drill program has already commenced.”
Some of the best results from the recent bout of drilling include a five-metre hit at 17.91 grams per tonne (g/t) gold at Branches, a 10-metre hit at 3.4 g/t gold from Solomon, and a four-metre hit at 3.73 g/t gold from Clement.
Five drill rigs are continuing to operate on-site — three RC drill rigs and two diamond drill rigs.
Nexus shares were up 1.61 per cent to 31.5 cents each at 10:17 am AEST.
