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- Nexus Minerals (NXM) surges in early trade after announcing the latest string of drilling results from its Wallbrook project in Western Australia
- The company says each of the 13 holes drilled at the Templar prospect in the project area struck gold mineralisation
- Nexus says the mineralisation at Templar is the same style of mineralisation previously struck at the nearby Crusader prospect in the project area
- According to Managing Director Andy Tudor, the latest results effectively link the Templar and Crusader prospects into one large mineralised system
- Shares in Nexus Minerals are up 40 per cent this morning and trading at 21 cents each at 10:30 am AEST
Gold explorer Nexus Minerals (NXM) has surged in early trade after announcing the latest string of drilling results from its Wallbrook project in Western Australia.
The company released assay results from 13 reverse circulation (RC) holes from the Templar Prospect in the project area. The results show several zones of high-grade gold intersection.
Nexus said the best results included a 10-metre hit at 5.64 grams of gold per tonne (g/t gold) within a wider 23-metre zone averaging 2.85 g/t gold. This same hole struck a six-metre intersection at 6.21 g/t gold and a two-metre intersection at 11.02 g/t gold.
Importantly, Nexus said the mineralisation at Templar is the same style of mineralisation previously struck at the Crusader prospect in the project area.
Nexus Managing Director Andy Tudor said the latest results have effectively “linked” the Templar and Crusader prospects into one large mineralised system.
“Nexus is the first company to drill the Templar prospect and we are very proud of the work our exploration team has contributed leading to this discovery,” Mr Tudor said.
The Templar drilling program was designed to follow up on mineralisation struck by previous aircore drilling campaigns taken on my Nexus.
As part of the latest Templar program, Nexus drilled the 13 holes from surface to around 300 metres deep. The company said all 13 holes struck mineralisation.
Looking ahead, Nexus said it will design future drilling programs at the prospect to test for depth extensions to some of the newly-discovered zones of mineralisation, as well as further strike extensions to the Templar/Crusader mineralised corridor.
The company said the current strike zone extends over 1.6 kilometres.
Nexus’ Wallbrook project covers some 250 sqkm in Western Australia’s eastern goldfields. On top of the Wallbrook project, Nexus also owns three other gold assets in Western Australia and the Bethanga Porphyry Copper-Gold Project in Victoria.
Shares in Nexus Minerals were up 40 per cent this morning and trading at 21 cents each at 10:30 am AEST. The company has a $50.54 million market cap.
