Nexus Minerals Ltd (ASX:NXM, FRA:YAK) has returned high-grade gold results of up to 19.00 g/t from reverse circulation (RC) drilling at the Payns Prospect within the Wallbrook Gold Project, about 140 kilometres northeast of Kalgoorlie in Western Australia.
The results are from the first 30 RC holes for 2,224 metres at Payns, part of 79 holes for 6,040 metres completed at the prospect.
All 30 holes returned anomalous gold intercepts, outlining a continuous mineralised zone that remains open along strike and at depth.
Results included:
- 5m at 8.20g/t Au including 2m at 19.00g/t Au within 13m at 3.35g/t Au from 30m
- 5m at 2.67g/t Au including 1m at 10.82g/t Au within 9m at 1.52g/t Au from 48m
- 5m at 2.49g/t Au within 10m at 1.48g/t Au from 64m
- 3m at 3.09g/t Au including 1m at 6.15g/t Au within 4m at 2.36g/t Au from 123m
- 9m at 1.15g/t Au within 17m at 0.74g/t Au from 14m
- 7m at 1.23g/t Au including 3m at 2.04g/t Au within 15m at 0.68g/t Au from 51m
- 5m at 1.55g/t Au within 8m at 1.17g/t Au from 70m
Payns Prospect plan view with new drilling (yellow labels new 1m RC intercepts, white labels previous results).
"These strong results at Payns, following on from the outstanding Clement results, demonstrate the momentum building across the Wallbrook Gold Project. Payns results display a continuous near-surface system with strongly mineralised higher-grade components, which remain open for continued growth by both lateral and down-dip extensions," Nexus Managing Director Andy Tudor said.
"With drilling now complete at Payns and Clement, and the rig progressing to Branches and then Crusader-Templar, the program remains on track for completion in July. Strong progress in the drilling campaign leaves us on track for the updated Mineral Resource Estimate planned for the September quarter. We look forward to bringing further updates as the program progresses.”
Continuous near-surface mineralisation
The Payns Prospect is around 4 kilometres northwest of the Crusader-Templar mineral resource and 500 metres west of the Branches discovery.
Drilling has confirmed broad, near-surface gold mineralisation within a 900-by-750-metre mineralised footprint, with the results supporting the potential for Payns to host a shallow maiden mineral resource and contribute to growth in the broader Wallbrook resource inventory.
NMWBRC26-849 – 5 metres at 8.20 g/t gold including 2 metres at 19.00 g/t gold from 34 metres within a broader intercept of 13 metres at 3.35 g/t gold from 30 metres.
Current Wallbrook resources are limited to the Crusader-Templar deposit, which hosts a combined mineral resource estimate of 5.67 million tonnes at 1.7 g/t gold for 304,000 ounces.
Program targeting resource growth
The Payns results are the second reported tranche from the company’s planned 22,000-metre RC drilling program at Wallbrook, with 4,106 metres now reported.
The program is focused on Clement, Payns and Branches, as well as extension targets at Crusader-Templar.
At Payns, drilling was designed to infill between existing RC intersections and aircore-defined zones, test near-surface sub-horizontal lodes along strike and down-dip, assess deeper structurally controlled mineralisation and establish drill density for a maiden mineral resource estimate.
Sampling is being completed at 1-metre intervals across each hole, with samples submitted for Chrysos PhotonAssay analysis for gold.
Geology supports further targeting
Nexus said drilling at Payns had confirmed felsic to intermediate volcanic and volcaniclastic units intruded by hematite-altered porphyries.
In oxide and transitional zones, gold is typically associated with quartz-goethite veining near redox boundaries, while higher-grade intervals in fresh rock are generally associated with increased quartz-sulphide veining, including pyrite and occasional tourmaline.
The company has interpreted 2 opposing mineralised pods, reflecting structural offsets, with mineralisation remaining open for lateral and down-dip growth.
What’s next
RC drilling at Payns and Clement is complete, with the rig now moved to Branches and then Crusader-Templar extension targets.
About 12,000 metres of the planned 22,000-metre program have been completed, with drilling on track for completion in July.
Further assay results from Clement, Payns, Branches and Crusader-Templar are expected in the coming weeks and into August.
Nexus has engaged independent consulting geologist Jeremy Clark of Lily Valley International to deliver an updated multi-prospect Wallbrook mineral resource estimate, targeted for completion by the end of the September quarter.