Nexus Minerals Ltd (ASX:NXM) has reported notable exploration results for the June quarter, highlighted by its recent drilling program at the Wallbrook Gold Project in Western Australia, where 5,172 metres of reverse circulation (RC) drilling across 46 holes returned several significant gold intersections. Standout results include 8 metres at 7.99 g/t gold (Au) and 4 metres at 4.24 g/t Au — further evidence of the strong mineralisation across the project’s Payns Prospect.
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NMWBRC25-763 - 8m @ 7.99g/t Au from 44m (within 24m @ 2.80g/t Au).
The company’s ongoing exploration efforts have revealed a coherent and high-grade mineralised zone at Payns, further solidifying the project’s potential to become a major resource hub in the region.
Nexus continues to expand its understanding of the Wallbrook Gold Project, with further drilling and geological refinement expected to unlock additional opportunities for resource growth.
Nexus Wallbrook Gold Project Location Map.
Strong results at the Payns Prospect
Nexus completed an extensive RC drilling program across its Payns Prospect, part of the broader Wallbrook Gold Project, revealing substantial gold mineralisation. Highlights include:
- 8m at 7.99 g/t Au (within 24m at 2.8 g/t Au) from 40m;
- 8m at 2.85 g/t Au (within 16m at 1.55 g/t Au) from 36m;
- 4m at 3.07 g/t Au (within 12m at 1.25 g/t Au) from 36m; and
- 4m at 4.24 g/t Au from 56m.
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Payns Prospect Completed RC Drillholes – Highlight Results Map.
These results confirm the presence of a coherent mineralised zone within the Payns Prospect footprint, with 45 out of the 46 holes intersecting gold mineralisation.
The company’s focus on high-quality shallow gold discoveries continues to be validated, with results indicating a strong regional exploration opportunity at Wallbrook. The Payns Prospect is strategically located near several operating gold mines, including Northern Star Resources’ Porphyry and Million Dollar mines.
Expanding the Wallbrook Gold Camp
The results further support Nexus’ view of Wallbrook as a developing "Gold Camp." The company is continuing to explore the regional prospectivity, with the current drilling program demonstrating the depth and continuity of mineralisation across the prospect.
Wallbrook Gold Project location and existing infrastructure.
The high-grade core emerging from the drilling could offer a substantial upside as Nexus refines its geological model and prepares for future exploration work.
Nexus is also progressing discussions with potential operational and toll treatment partners for its Crusader-Templar resource, also part of the broader Wallbrook Gold Project. The company is now well-positioned to pursue a multi-stage, open-pit operation at Wallbrook, with technical studies continuing to de-risk the project.
Ongoing progress and future work
Nexus is set to continue its efforts at Wallbrook, with plans to receive and assess one-metre gold assay results from the recent RC drilling program. The company also aims to undertake further RC drilling following up on priority target areas identified during prior campaigns.
Nexus has already submitted the mine proposal and closure plan for the Crusader-Templar resource, with permitting processes under way.
In addition to the Wallbrook Gold Project, Nexus is advancing its other key projects, including the Pinnacles Joint Venture with Northern Star Resources and its NSW Mineral Project, which spans a highly prospective region for gold, copper, and other critical minerals.
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Nexus Minerals Australian Project Locations.
Solid financial position
The company remains well-capitalised, with $11.2 million in cash at the end of June, following a successful $8.1 million capital raise in April. Nexus continues to build on its exploration successes and is poised for continued growth in the coming quarters.
As Nexus focuses on its near-surface ounce portfolio at Wallbrook and its other gold projects, the company remains dedicated to efficiently progressing its exploration activities, with a clear path forward to expanding its gold resources and achieving long-term value for shareholders.