Nexus Minerals Ltd (ASX:NXM) has unwrapped an early Christmas present, with assay results from recent drilling at Crusader-Templar Prospect within the Wallbrook Gold Project in WA returning high-grade gold.
All 28 of the reverse circulation (RC) drill holes - across 9,775 metres to date - have struck gold, including 29 metres at 4.60 g/t gold within 71 metres at 2.06 g/t from 25 metres and the company awaits further assay news with optimism.
Highlights
The gold mineralisation is consistent with broad mineralisation in the shallower levels of less than 100 metres giving way to broad high-grade intersections deeper down.
Other strong assay results from RC drilling include:
- 13 metres at 5.17 g/t gold within 25 metres at 2.95 g/t from 109 metres;
- 10 metres at 4.45 g/t from 74 metres;
- 16 metres at 2.31 g/t within 68 metres at 0.98 g/t from 28 metres;
- 5 metres at 4.93 g/t within 8 metres at 3.31 g/t from 115 metres;
- 3 metres at 5.77 g/t within 8 metres at 2.52 g/t from 235 metres;
- 6 metres at 2.87 g/t within 26 metres at 1.19 g/t from 55 metres;
- 4 metres at 4.61 g/t within 12 metres at 1.72 g/t from 132 metres;
- 4 metres at 3.18 g/t within 12 metres at 1.24 g/t from 148 metres;
- 8 metres at 3.35 g/t within 52 metres at 0.63 g/t from 84 metres; and
- 4 metres at 4.24 g/t within 24 metres at 0.89 g/t from 80 metres.
Seizing the opportunity
The mineralisation continues across the 1.6-kilometre strike area. Only a limited amount of drilling has been done in the area to date and Nexus is seizing the opportunity to explore within the known strike distance and at depth.
As the company proceeds with the current 30,000-metre RC drill program, the density of drilling will increase and internal characteristics of the mineralisation, including internal plunge geometry, will be thrown into relief.
“The broad high-grade gold results continue to impress and build our confidence in the continuity of the high-grade gold mineralisation at Crusader-Templar," Nexus managing director Andy Tudor said.
Oblique structure
An alteration observed in diamond hole #4, where mineralisation wasn’t observed, is believed to be a function of a very late-stage cross-cutting oblique structure.
While the drill hole represents only a point in space, and a very small component of the total strike length, this late-stage structure has provided a conduit for increased fluid flow and silica flooding, which has served to re-mobilise the gold.
A similar feature has been found at the multi-million-ounce Karari Gold Mine of Northern Star 30 kilometres to the south.
“The result from DDH#4, which appears to have been drilled down a cross-cutting post-mineralisation structure, continues to increase our understanding of the gold distribution in this very large system,” Tudor said.
What’s next?
Nexus has planned a follow-up 40,000-metre RC and 6,000-metre diamond drilling program to kick off directly after it completes the current RC program.
Three RC drill rigs and two diamond drill rigs are booked for a January start, and a 50-person exploration camp will be set up at Wallbrook in early January to cater for an increase in exploration activity in 2022.