Nexus Minerals Ltd (ASX:NXM, FRA:YAK) has progressed permitting and operational readiness work at its Crusader–Templar gold deposit at the Wallbrook Gold Project in Western Australia, while reporting high-grade drilling results that it says have advanced multiple regional prospects toward resource definition.
In its quarterly activities report for the period ended 31 December 2025, the company said further permitting approvals had been received for Crusader–Templar and discussions were continuing with potential operational and toll treatment partners, as Nexus assesses development pathways for what it describes as a multi-stage, multiple open pit opportunity.
Drilling lifts focus on multiple prospects
On the exploration front, Nexus reported results from a 62-hole, 6,155m reverse circulation (RC) program targeting the Clement, Amand and Godfrey prospects, stating the campaign identified opportunities to build near-surface ounces across the targets.
The company also completed a 295-hole, 10,113m aircore (AC) program at Branches and the regional MC3.3 target. It said drilling at Branches confirmed strike extensions to the north and south and suggested potential parallel mineralised zones east of previous RC drilling, while MC3.3 returned limited, non-coherent anomalism and has been discounted from further work.
Nexus said systematic regional exploration at Wallbrook has now defined 5 prospects—Branches, Payns, Clement, Amand and Godfrey—each displaying sizeable mineralised footprints and remaining open along strike and down dip, with the group progressing toward a resource definition phase.
It highlighted recent RC results at Clement, located about 250m east of Crusader–Templar, as supporting a possible connection between the systems at depth, citing an intercept of 15m at 5.21g/t gold within 34m at 2.73g/t from 116m (NMWBRC25-818).
Across the regional prospects, Nexus summarised standout intercepts including Branches (5m at 17.91g/t from 118m), Payns (5m at 8.10g/t including 1m at 30.05g/t from 39m), Amand (23m at 2.52g/t including 8m at 5.41g/t from 5m), and Godfrey (4m at 4.02g/t from 24m).
Nexus Wallbrook Gold Project location map.
Highlights and next steps
Looking ahead, Nexus flagged resource definition RC drilling at key Wallbrook prospects and further permitting work at Crusader–Templar, while the Pinnacles JV is expected to progress heritage and mine proposal components ahead of a submission to DEMIRS following JV committee sign-off.
At December 31, 2025, Nexus reported cash and cash equivalents of $7.827 million, with exploration and evaluation spend of $1.114 million for the quarter and estimated funding of 4.5 quarters at the reported net operating cash outflow rate.