Nexus Minerals Ltd has delivered further encouraging gold assays from its recently completed aircore drilling program, expanding the mineralised footprint at the Wallbrook Gold Project in Western Australia.
The company has now received all results from the regional program, comprising 313 aircore holes for a total of 11,691 metres and is on track to begin its next regional aircore drilling program in mid-April.
As at the end of the March quarter, Nexus remained well funded with A$5.17 million in cash.
Stand out assays
During the program, Nexus expanded MC2.1 target’s mineralised footprint to 650 metres by 250 metres with new intersections including:
- 4 metres at 1.73 g/t gold from 36 metres;
- 4 metres at 1.68 g/t from 36 metres;
- 4 metres at 1.11 g/t from 28 metres; and
- 4 metres at 1.08 g/t from 48 metres.
Notably, these results expand on previous high-grade intersections at MC2.1, which include:
- 8 metres at 2.94 g/t gold from 44 metres;
- 8 metres at 2.93 g/t gold from 28 metres; and
- 8 metres at 2.33 g/t gold from 32 metres.
Consequently, Target MC2.1 is now encompassed within the company’s Clement Prospect, where RC drilling has previously delivered:
- 2 metres at 5.57 g/t gold from 71 metres; and
- 4 metres at 3.73 g/t from 151 metres.
Clement Prospect Map (Target MC2.1) (yellow labels are new results)
Meanwhile, at Payns prospect, aircore drilling encountered:
- 4 metres at 6.85 g/t gold from 28 metres;
- 4 metres at 7.12 g/t from 8 metres;
- 4 metres at 6.59 g/t from 40 metres; and
- 4 metres at 5.02g/t from 20 metres
Payns Prospect - Selected Drill results with Cross Section Lines (new results in yellow).
“Results from MC2.1 have expanded the mineralised footprint to some 650m x 250m, a further significant exploration achievement for the Wallbrook Gold Project”, Nexus MD Andy Tudor said.
“Expansion of Target MC2.1 has allowed it to be encapsulated in the previously identified Clement Prospect”
Forward plan
With the results in hand, Nexus has defined a compelling RC drill target with RC drill hole planning underway.
The company is continuing a systematic exploration approach focused on near-surface discoveries to efficiently build the projects’ resources.
Furthermore, the next regional aircore program is on track to begin in mid-April.
Highly prospective tenement package
Nexus is actively exploring gold deposits on its highly prospective tenement package in the Eastern Goldfields of Western Australia.
In Western Australia, the consolidation of the highly prospective Wallbrook Gold Project by the amalgamation of existing Nexus tenements with others acquired will advance these gold exploration efforts.
Nexus holds a significant land package of highly prospective geological terrane within a major regional structural corridor and is exploring gold deposits.