Nexus Minerals' Ltd (ASX:NXM) has been on a high-grade gold streak at the Pinnacles project in the Eastern Goldfields of Western Australia with its $740 million capped joint venture partner Saracen Mineral Holdings (ASX:SAR).
All seven holes in the 2,000-metre campaign intersected high-grade gold mineralisation, confirming that the width and grade of the mineralised structure extends at least 100 metres below the existing 28,000-ounce resource.
Adding to the prospectivity, mineralisation remains open at depth and along strike.
Standout intersections included 6 metres at 13.1g/t gold, 8 metres at 7.7g/t gold and 11 metres at 5.6g/t gold.
Price catalysts for the stock include geological modelling integrating the Nexus drilling with that of previous operators, which will result in the next phase of drill planning.
Nexus is also well-funded, with $5.8 million on cash at the end of 2015, yet its market cap. is just $6 million.
The company is therefore leveraged to news flow.
MEET CEO Andy Tudor at Proactive's Spotlight CEO Sessions in Sydney and Melbourne in March 2016
To find out the importance of the initial results, Andy Tudor, chief executive officer for Nexus, has been secured to speak at Proactive's Spotlight CEO Sessions in March.
Sydney Investor Luncheon, Tuesday, 8th March
Melbourne Investor Luncheon, Wednesday, 9th March
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