Sign up Australia
Proactive Investors - Run By Investors For Investors

Nexus Minerals’ drilling continues to highlight gold potential at Pinnacles

Drilling to date has tested only a fraction of the anomalous gold corridor.
drill rig on site
Targeted exploration programs planned for 2018

Nexus Minerals Ltd (ASX:NXM) has received positive assays from a 3,092 metre drill program at its Pinnacles Gold Project in the Eastern Goldfields of Western Australia.

Six drill holes at the GT6 prospect returned wide anomalous gold intersections including:

• 21 metres at 0.88 g/t gold, including 10 metres at 1.66 g/t gold from 18 metres; and
• 22 metres at 0.78 g/t gold, including 14 metres at 1.02 g/t gold from 9 metres.

Importantly, the drilling to date at GT6 has tested only a fraction of the 3 kilometres x 600 metres anomalous gold corridor.

Similar to the 1990 Karari discovery

The geological and mineralisation features exhibited to date are consistent with results returned from initial exploration programs at the Karari gold mine, 20 kilometres to the north, in the mid 1990’s.

The Karari discovery hole was drilled in 1997 and returned 12 metres at 2.05 g/t gold from 38 metres.

This Karari-style gold mineralisation is known to be confined to volcanic sediments and is associated with quartz-hematite alterations.

Notably, these features were observed in the recent drilling at GT6 and the prospect will be subject to targeted exploration programs in 2018.

READ: Nexus Minerals highlights gold potential at project being acquired

Nexus is actively exploring for gold deposits on its highly prospective tenement package in the Eastern Goldfields of Western Australia.

The company’s tenement package commences along strike from Saracen Mineral’s (ASX:SAR) 4 million ounce Carosue Dam mining operations, and operating Karrari underground gold mine.

The recent addition of the Wallbrook Gold Project is expected to further advance Nexus’ gold exploration efforts.

READ: Nexus Minerals to boost gold portfolio with acquisition from Saracen

The company’s review of historical data for the Wallbrook Gold Project has revealed significant gold assay results including 3 metres at 16.6 g/t gold, 5 metres at 13.0 g/t gold and 12 metres at 4.1 g/t gold.

View full NXM profile View Profile

Nexus Minerals Ltd Timeline

Related Articles

A sapphire
November 20 2017
Vered Toledo writes about mining in Israel and where Shefa Yamim A.T.M fits in
1522948433_shutterstock_249210421-(1).jpg
April 06 2018
Anglo Pacific's royalty income is up significantly, and is set to rise still further as the company goes on the hunt for deals
Montepuez Ruby Project Processing Plant
April 03 2018
The Caula Graphite Vanadium Project could achieve first production by mid-2019.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use