Nexus Minerals Ltd (ASX:NXM) has intersected broad and high-grade gold at its Crusader Prospect, within the Wallbrook Gold Project in the Eastern Goldfields of WA, adding to the "potential pedigree of the project".
Deep diamond hole DDH#5 has also intersected visible gold in a 30-metre zone of intense alteration – the same alteration style as seen at Northern Star Ltd’s multi-million ounce Karari Gold Mine, 30 kilometres to the south.
A 30,000 metres reverse circulation (RC) drill program is underway.
Potential ‘pedigree’ of project
Nexus managing director Andy Tudor said: “The broad high-grade gold results continue to impress and build our confidence in the continuity of the high-grade gold mineralisation at Crusader.
“The visible gold seen in DDH#5 is very encouraging as it represents the first time we have logged visible gold in drilling at Crusader-Templar. The fact that the visible gold is logged in the middle of some 30 metres of intense alteration makes it even more significant."
He said: “The alteration style and mineralisation observed in the Crusader-Templar drill holes exhibit the same style that hosts the multi-million-ounce Karari deposit 30 kilometres to the south providing additional confidence in the potential pedigree of the project.
“The systematic and determined exploration approach by the Nexus team that has led to this discovery, is setting up the project for its success.”
Crusader Prospect drill results
The Crusader Prospect drill results include:
Single vertical reverse circulation (RC) hole #198:
- 4 metres at 15.25 g/t gold (within 64 metres at 1.38g/t from 20 metres); and
- 4 metres at 6.23 g/t (within 28 metres at 1.44 g/t from 108 metres).
Four diamond tail/RC pre-collar holes:
- Hole #178 - 6.20 metres at 4.69 g/t (within 9.1 metres at 3.49 g/t from 225 metres);
- #179 - 0.28 metres at 35.62 g/t (within 6.36 metres at 1.83 g/t from 258 metres);
- #181 - 1.20 metres at 7.67 g/t (within 12 metres at 1.25g/t from 257 metres); and
- #182 - 4.00 metres at 7.45 g/t (within 12 metres at 3.60 g/t from 184 metres).
Additional drill core from DDH#1
- 2.70 metres at 5.7 g/t (within 18.7 metres at 1.34 g/t from 47 metres).
Results from 1 metre re-splits:
- Hole #183 - 12 metres at 4.26 g/t (from 196 metres);
- #176 - 3 metres at 21.59 g/t (within 14 metres at 8.80 g/t from 141 metres); and
- #174 - 6 metres at 4.77 g/t (within 22 metre at 1.55 g/t from 146 metres).
The DDH#5 is now completed with end-of-hole depth of 797 metres and assay results pending.
Next steps
The 30,000 metres RC drill program underway at Crusader-Templar will test for depth extensions to the mineralisation, down to about 250 metres below surface, as well as testing the full 1.6 kilometres strike of the Crusader/Templar mineralised corridor currently identified.
The full strike extent of the mineralisation is still to be tested and is constrained only by the extent of drilling completed by Nexus to date.
Regional ground magnetics survey
The results from ongoing regional ground magnetics survey identify and highlight some distinct features associated with known mineralisation, and hence provide the opportunity for repeat structures and new prospects for detailed ground-truthing and drill targeting.
The most highly prospective prospects show:
- Magnetic signature of magnetic low within a magnetic high;
- Gravity low corridor; and
- North-easterly structural trends.
Nexus has identified a second structural trend ~1.5 kilometres to the east of the corridor containing the Crusader-Templar, Solomon and Branches prospects.
This structural trend correlates with the historical open pits of the Enterprise and Margaret gold mines immediately to the north (now Northern Star Ltd).
There is also a third structural trend a further 1 kilometres to the east that also shows promising magnetic signatures in the right structural setting. All of these regional targets will be subject to detailed ground-truthing and drill targeting.