Nexus Minerals Ltd (ASX:NXM) (FRA:YAK) is planning follow-up activities after receiving strong high-grade assay results across multiple prospects at the Wallbrook Project, Eastern Goldfields, WA.
The company is planning reverse circulation (RC) and diamond drilling programs with the drill rigs targeted to start in early March.
Exciting new mineralised corridor
Nexus managing director Andy Tudor said: “The drilling results from Crusader-Templar prospects last year have intersected broad and high-grade gold intercepts, showing continuity of mineralisation over greater than 1.6 kilometres of strike, which remains open in all directions, and importantly at depth.
“This is rapidly growing into an exciting new mineralised corridor, with potential to establish a significant mineral resource. RC and diamond drilling programs have been planned to follow up on the results received in last year’s programs, with the drill rigs commencing in early March.”
Wallbrook project
The company’s 2021 field exploration activities at Wallbrook include:
➢ Crusader Prospect: Diamond drilling (about 1,200 metres) and RC drilling (about 6,000 metres) will commence in early March targeting strike and depth extensions.
➢ Templar Prospect: The drill program at Templar will commence post the Crusader program with diamond drilling (around 1,200 metres) and RC drilling (around 6,000 metres) targeting strike and depth extensions.
➢ Branches Prospect: All 35 RC holes drilled at Branches by Nexus in 2020 intersected mineralisation and the future drill program will be to test significant potential remaining at depth and along strike
➢ Paint Prospect: The use of geophysical surveys has provided excellent vectors for mineralisation and drill planning. High-resolution ground magnetic surveys, followed up with gravity surveys and Gradient Array IP surveys have been used successfully to identify targets for drill testing.
Drill targets generated will be subject to drill testing.
Pinnacles project
Nexus Minerals has been undertaking a pre-feasibility study (PFS) of a range of options for the project to be developed into a mining operation.
The work to date is indicating the option of standalone underground/no open pit operation as the preferred option.
In light of the significant exploration potential and activities planned for the Wallbrook Gold Project in 2021, the Nexus board has made the decision to direct management and personal efforts predominantly to the Wallbrook project, rather than expand the PFS at this time.
Crusader mineralisation
The drill programs planned for Crusader will test for depth extensions to the mineralisation, which has been drilled to a maximum 200 metres depth (remains open at depth), constrained only by the extent of drilling completed by Nexus to date.
Templar mineralisation
The drill program planned for Templar will test for depth extensions to the mineralisation, which has been drilled to a maximum 100 metres depth (remains open at depth), constrained only by the extent of drilling completed by Nexus to date.