Company
ASX:NXM
Nexus Minerals Ltd is a well-funded resource company with a portfolio of gold projects in Western Australia, gold-copper & critical minerals in New South Wales and porphyry copper-gold in Bethanga Victoria. The company is actively exploring for gold deposits on its highly prospective tenement package in the Eastern Goldfields of Western Australia.
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“The results have enabled Nexus to create a geological model which will allow for more targeted future drill program planning," MD Andy Tudor said.
“This early success in testing the first prospect outside of our Crusader-Templar prospect really opens up the opportunity of the four mineralised corridors to host significant gold mineralisation," said MD Andy Tudor.
“The results received from this targeted program have again yielded great results. The few holes that were planned to test the deeper transition and fresh rock mineralisation have also yielded strong results," MD Andy Tudor said.
MD Andy Tudor says that company geologists and consultants are well advanced in their geological interpretation of drilling carried out to date, which will be integral to initial resource modelling work starting this quarter.
"To continue to receive such broad high-grade gold results in both near surface drilling and at depth, reflects the large-scale and high-grade nature of this evolving gold system,” said MD Andy Tudor.
Nexus is actively exploring for gold deposits across its tenement package in WA’s Eastern Goldfields.
“To have received such high-grade gold results from this early-stage regional drilling, in both near-surface drilling and at a depth of over 200 metres vertically, leads Nexus to believe that we may be sitting on a significant gold camp,” s
“To have received multiple bonanza gold grades in both near surface drilling and at a depth of over 250 metres vertically from these results, reflects the large scale and high-grade nature of this evolving gold system,” says MD Andy Tudor.
”The widths and grades returned in shallower oxide targeted drilling, including 84 metres at 1.35 g/t gold from 9 metres are impressive, building our confidence in the potential for the Crusader-Templar Prospect to evolve into a very large
“The strength of these results continues to build our confidence in the potential for the Crusader-Templar prospect to evolve into a very large mineralised system,” says MD.
NXM will continue the deep diamond drilling program to test for mineralised zones at around the 600-metre level, with the aim of “tagging” the mineralisation at this depth along the full extent of the 1.6-kilometre strike.
“The strength of these results continues to build our confidence in the potential for the Crusader-Templar Prospect to evolve into a very large mineralised system," says MD Andy Tudor.
Assays from 22 of the RC holes, spanning 5,738 metres, have been received, all of which intersected gold mineralisation that exhibits strong strike continuity.
Nexus is drilling more than 30,000 metres in two prospects hosted in a structural trend. Once that program is completed, a smaller drill program will target the third prospect along the same alteration, while the eastern area of the project
“Stephen’s appointment brings a wealth of skills and experience to the company that will be incredibly valuable as we scale up exploration activities in 2022," says MD.
There has been sufficient initial evidence in a porphyry copper-gold fertility assessment study to allow the company’s directors to exercise the option.
The company has planned a follow-up 40,000-metre reverse circulation (RC) and 6,000-metre diamond drilling program to kick off directly after it wraps the current RC drill program.
Proceeds of the placement will allow the company to ramp up drilling at the Crusader-Templar prospect and fund regional exploration activities at the wider Wallbrook Gold Project.
Deep diamond hole DDH#5 has 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.
The company’s flagship Wallbrook Gold Project in the Eastern Goldfields of WA contains an emerging +50 kilometre ‘gold trend’ positioned in-between two Northern Star mining centres, with significant gold mineralisation already confirmed at
