Nexus Minerals Ltd (ASX:NXM) continues to make exploration headway as it unlocks the golden potential of its Wallbrook project in WA’s Eastern Goldfields.
In an exploration update, the precious metals explorer detailed its progress across Wallbrook’s flagship Crusader-Templar project, as well as the gold camp’s regional targets.
Commenting on the progress to date, Nexus managing director Andy Tudor said the company had completed nine months of extensive drilling at Wallbrook.
“We are very excited with the prospectivity of the project and look forward to completing the detailed geological work and interpretation required on a project of this size,” Tudor explained.
“The geological modelling will allow the company to fully assess the significant amount of information gathered to date and planning future drill programs.”
Turning the soil at Crusader-Templar
Recently, Nexus closed the books on a near 70,000-metre reverse circulation drill campaign along the Crusader-Templar prospect’s 1.6-kilometre mineralised corridor.
Since then, almost 15,000 metres of diamond drilling have been completed along the same structure.
Now, Nexus geologists have picked up the magnifying glass as part of a detailed review of Crusader-Templar’s geology, alteration, structure and gold mineralisation.
Results for more than 16,00 metres of RC drilling and upwards of 10,000 metres of diamond drilling are pending, and Nexus expects to report the majority of assays in the coming months.
The explorer has also appointed Snowden Optiro mining consultants to kick off geological modelling.
After the geological interpretation and a drill planning phase, Nexus plans to return to the ground at Crusader-Templar.
Nevertheless, amid current economic uncertainty and market volatility, the company plans to keep a prudent watch on its financials.
Nexus has $7.4 million in cash on hand to complete its activities.
Other regional prospects
Beyond Crusader-Templar, Nexus is interested in exploring the potential gold across at Wallbrook’s regional targets.
Almost 20,00 metres of RC drilling has been completed across three regional prospects, known as Branches, Solomon and Clement.
From that program, slightly more than 4,000 metres worth of results are pending.
Nexus has also concluded a regional gravity survey and data processing is underway.
From here, the explorer can rank the regional prospects in order of priority but with multiple mineralised corridors and targets on its hands, Nexus believes there’s potential to shape an emerging gold camp.
The big picture
Nexus is actively exploring for gold deposits across its tenement package in WA’s Eastern Goldfields.
The company recently expanded its project portfolio, taking on the Bethanga Porphyry Copper-Gold Project in Victoria.
In Western Australia, Nexus has been hard at work consolidating the 250-square-kilometre Wallbrook Gold Project, combining the existing Nexus tenements with others it has acquired.
The Wallbrook package lies immediately north of Northern Star Ltd’s multi-million-ounce Carosue Dam mining operations, as well as the operating Karari and Whirling Dervish underground gold mines.
The company is dedicated to investing in new exploration techniques, thereby refining its targeting approach across current and future tenements.
