Nexus Minerals Ltd (ASX:NXM) has received positive assays from a 3,092 metre drill program at its Pinnacles Gold Project in the Eastern Goldfields of Western Australia.
Six drill holes at the GT6 prospect returned wide anomalous gold intersections including:
• 21 metres at 0.88 g/t gold, including 10 metres at 1.66 g/t gold from 18 metres; and
• 22 metres at 0.78 g/t gold, including 14 metres at 1.02 g/t gold from 9 metres.
Importantly, the drilling to date at GT6 has tested only a fraction of the 3 kilometres x 600 metres anomalous gold corridor.
Similar to the 1990 Karari discovery
The geological and mineralisation features exhibited to date are consistent with results returned from initial exploration programs at the Karari gold mine, 20 kilometres to the north, in the mid 1990’s.
The Karari discovery hole was drilled in 1997 and returned 12 metres at 2.05 g/t gold from 38 metres.
This Karari-style gold mineralisation is known to be confined to volcanic sediments and is associated with quartz-hematite alterations.
Notably, these features were observed in the recent drilling at GT6 and the prospect will be subject to targeted exploration programs in 2018.
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Nexus is actively exploring for gold deposits on its highly prospective tenement package in the Eastern Goldfields of Western Australia.
The company’s tenement package commences along strike from Saracen Mineral’s (ASX:SAR) 4 million ounce Carosue Dam mining operations, and operating Karrari underground gold mine.
The recent addition of the Wallbrook Gold Project is expected to further advance Nexus’ gold exploration efforts.
READ: Nexus Minerals to boost gold portfolio with acquisition from Saracen
The company’s review of historical data for the Wallbrook Gold Project has revealed significant gold assay results including 3 metres at 16.6 g/t gold, 5 metres at 13.0 g/t gold and 12 metres at 4.1 g/t gold.