The Wallbrook project covers about 250 square kilometres of prospective geological terrain considered highly prospective for the discovery of significant gold mineralisation.
Nexus’ RC drill program completed at the Crusader and Paint prospects returned high-grade gold intersections including:
• Crusader: 27 metres at 3.18g/t gold from 61 metres;
• Crusader: 35 metres at 2.85g/t gold from 25 metres;
• Paint: 20 metres at 0.58g/t gold including 4 metres at 2.17g/t gold; and
• Paint: 16 metres at 0.89g/t gold including 8 metres at 1.70g/t gold.
June 2019 quarter work program
During the June 2019 quarter Nexus intends to undertake the following activities at the Wallbrook Gold Project:
• Analyse data received from recently completed RC drill program;
• Undertake 3D modelling of Crusader RC drill data;
• Drill program planning at Crusader prospect;
• Integrate and analyze gravity and high-resolution ground magnetic data from Templar prospect to generate drill targets along prospective mineralised corridor;
• Geological and structural mapping;
• Analysis of regional geochemistry; and
• Geophysical programs including high-resolution ground magnetics.
Well-funded for accelerated drilling
Nexus has also completed a $1,625,500 capital raising from a $1,254,000 private placement and a $371,500 share purchase plan.
The funds raised will allow accelerated drill testing of the company’s Wallbrook Gold Project.