Nexus Minerals Ltd (ASX:NXM, FRA:YAK) has advanced both development planning and exploration at its flagship Wallbrook Gold Project in Western Australia during the March quarter, with permitting progress and a major drilling campaign underpinning its next phase of growth.
The company confirmed further key approvals at the Crusader–Templar deposit, alongside continued discussions with potential mining and toll treatment partners, as it works towards a potential staged open-pit operation.
At the same time, Nexus has mobilised crews for a substantial ~22,000-metre reverse circulation (RC) drilling program aimed at expanding the project’s mineral resource base and supporting an updated estimate targeted for 2026.
Nexus Wallbrook Gold Project Location Map
Drilling targets resource growth across multiple prospects
The Wallbrook drilling program is focused on four key areas, including three newer prospects generated through systematic exploration over the past 18 months:
- Clement, Payns and Branches targeted for maiden or expanded mineral resource estimates
- Drilling designed to test scale, continuity and grade across these emerging zones
- Additional work at Crusader–Templar, which currently hosts a resource of 304,000 ounces at 1.7 g/t gold
- Extension potential identified beyond the current resource envelope
Initial assay results from the campaign are expected from May, with further updates to follow progressively.
Nexus has also engaged an independent competent person to support the upcoming mineral resource estimate update, reflecting a more structured push towards resource definition and potential development.
Nexus Wallbrook Regional Prospects Location Map
Permitting progress supports development pathway
On the development front, Nexus said critical operational permits are now in place for a stage one mining scenario at Crusader–Templar, pending access to third-party processing capacity.
The company continues to assess commercial pathways through discussions with potential partners, including toll treatment arrangements, as it works to de-risk the project.
Nexus Crusader-Templar Permitting Status
Broader portfolio advances alongside Wallbrook
Outside of Wallbrook, Nexus continues to progress its broader asset base:
- Pinnacles JV Gold Project (90% Nexus): ongoing mine study work, with permitting steps advancing towards submission of a mine proposal
- NSW Mineral Project: landholding refined from 15,000km² to 7,500km² to focus on higher-priority targets for gold, copper and critical minerals
- R&D program: ongoing development of new geological analysis tools to improve exploration targeting
Nexus Minerals Australian Project Locations
Cash position supports ongoing work
At quarter end, Nexus held $7.4 million in cash and term deposits, with exploration and evaluation expenditure of $449,000 during the period.
The company reported net operating cash outflows of $406,000 for the quarter, equating to around six quarters of funding at current spending levels.
Looking ahead
Over the June quarter, Nexus plans to continue its Wallbrook drilling campaign, advance Crusader–Templar towards potential operations, and progress permitting at Pinnacles.
With drilling under way and permitting milestones falling into place, the coming months are expected to provide clearer insight into the scale and development potential of the Wallbrook system.
RC Drilling at Wallbrook Gold Project