Proactiveinvestors Australia Nexus Minerals Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Nexus Minerals Ltd RSS feed en Sun, 24 Feb 2019 12:53:55 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Nexus Minerals to raise $1.25 million for gold exploration at Wallbrook ]]> https://www.proactiveinvestors.com.au/companies/news/214920/nexus-minerals-to-raise-125-million-for-gold-exploration-at-wallbrook-214920.html Nexus Minerals Ltd (ASX:NXM) has received commitments to raise around $1.25 million through the issue of up to 22 million fully paid ordinary shares at 5.7 cents per share.

The company also intends to raise up to a further $750,000 through a share purchase plan (SPP) which will be offered to existing eligible shareholders.

Funds to accelerate work programs

Nexus Minerals managing director Andy Tudor said: “The proceeds from the placement and SPP will allow Nexus to accelerate work programs at the Wallbrook Gold Project with RC drilling commencing this week on two priority Wallbrook project targets.

“Commencing at the Paint prospect and then moving to the Crusader prospect will be an exciting time for Nexus personnel and shareholders alike over the coming months.

“The planned drilling has been the culmination of a lot of hard work by the Nexus geology team and we will eagerly await the results.”

The placement received strong support from a range of institutional, sophisticated and professional investor clients of Hartleys Limited and in addition, directors of Nexus have also committed to subscribe for a total of $67,800 on the same terms as the placement, subject to shareholder approval.

Strong investor support “encouraging”

Tudor added: “To have achieved such a strong level of investor support for the placement was very encouraging - this includes Saracen Mineral Holdings Limited (ASX:SAR), who confirmed their commitment to Nexus’ exploration efforts by participating in the placement to maintain their existing 6% shareholding.”

- Jessica Cummins 

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Tue, 19 Feb 2019 20:57:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214920/nexus-minerals-to-raise-125-million-for-gold-exploration-at-wallbrook-214920.html
<![CDATA[News - Nexus Minerals in trading halt with capital raising news pending ]]> https://www.proactiveinvestors.com.au/companies/news/214767/nexus-minerals-in-trading-halt-with-capital-raising-news-pending-214767.html Nexus Minerals Ltd (ASX:NXM) has been granted a trading halt by the ASX with an announcement regarding details of a proposed capital raising imminent.

This halt will remain in place until the start of normal trading on Wednesday, February 20, 2019, or when an announcement is released to the market, whichever occurs earliest.

The WA-focused gold explorer’s shares last traded at 7 cents.

READ: Nexus Minerals to drill at Wallbrook gold project in Eastern Goldfields

Nexus plans to start a reverse circulation (RC) drill program at its Wallbrook Gold Project in the Eastern Goldfields by the end of this month.

READ: Nexus Minerals identifies gold drill targets at Wallbrook project

This program will be at the Paint and Crusader prospects after high-priority drill targets were identified by geological mapping combined with other exploration data.

Paint and Crusader targets

The Paint prospect is considered prospective for Karari-style mineralisation as it shows numerous similarities to the Karari deposit of Saracen Mineral Holdings Ltd (ASX:SAR).

Crusader is considered prospective for steeply dipping sheeted mineralisation associated with sub-vertical vein sets, amenable to open pit mining.

Nexus’ RC drill program will concentrate on mineralisation from surface to a vertical depth of around 100 metres.

The recently acquired Templar prospect will also be subject to ground exploration activities during this quarter.

Historical data review and database integration of the complete 250 square kilometre Wallbrook tenement package is ongoing in 2019.

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Mon, 18 Feb 2019 14:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214767/nexus-minerals-in-trading-halt-with-capital-raising-news-pending-214767.html
<![CDATA[News - Nexus Minerals to drill at Wallbrook gold project on Eastern Goldfields ]]> https://www.proactiveinvestors.com.au/companies/news/214549/nexus-minerals-to-drill-at-wallbrook-gold-project-on-eastern-goldfields-214549.html Nexus Minerals Ltd (ASX:NXM) (FRA:YAK) specialises in exploration in the Goldfields-Esperance region of Western Australia. It is run by Andy Tudor, a geologist who has more than 34 years experience in the mining industry who previously headed up Navigator Resources Limited (ASX:NAB).

What does Nexus Minerals own?

Nexus’ key asset is the Wallbrook Gold Project less than 100 kilometres north-northeast of Kalgoorlie-Boulder in WA.

The company snapped up the project from Saracen Mineral Holdings Limited (ASX:SAR) for about 1.5 million Nexus shares last April.

Nexus’ pick-up included an ore purchase agreement that would let the company process ore at miner Saracen’s Carosue Dam operations 35 kilometres south of the project area on a haul road network.

The 4 million ounce Carosue Dam operation is less than 5 kilometres along strike from another Nexus gold project, the Pinnacles earn-in project which Nexus partly holds with Saracen in a JV.

About 5 million ounces of gold resources in the same district as the project are hosted in a similar geological setting to that underlying the Nexus tenement holding.

Nexus increased its ground at Wallbrook project by 190 square kilometres, or 317%, to more than 250 square kilometres last November after grabbing three tenements from Newmont Mining Corp’s (NYSE:NEM) Newmont Exploration.

Nexus’ work program at the project in the March quarter will include geophysical programs such as gravity and ground magnetics, R&D sampling and drill testing of priority exploration targets.

High-priority drill targets have already been identified at the project’s Paint and Crusader prospects, and a reverse circulation (RC) drill program is planned for later this month.

Paint is prospective for mineralisation similar to Saracen’s operating Karari mine while Crusader has open pit potential

The Templar prospect pick-up will also be subject to ground exploration this quarter.

Nexus has already drilled 3,992-metres in a reverse circulation program at Wallbrook project.

High-grade gold intersections from 1-metre samples were: 3 metres grading 19.36 g/t, including 2 metres at 27.18 g/t; and 3 metres grading 6.04 g/t.

Wallbrook’s mineralisation, alteration style and grades are analogous to Karari and Saracen’s historical Porphyry and Wallbrook mines.

Another asset for Nexus in the Eastern Goldfields is Pinnacles project south of Carosue Dam.

The Pinnacles joint venture lies northeast of Kalgoorlie-Boulder and Northern Star Resources’ (ASX:NST) (FRA:NS7) (OTCMKTS:NESRF) 25-year-old Kanowna Belle gold mine.

Saracen is Nexus’ partner on the 8 square kilometre Pinnacles Gold Project, with Nexus able to earn into a stake of up to 85% in the project through $1 million expenditure over a five-year period from 2015.

Once the Pinnacles Regional Gold Project tenements are included, total Pinnacles land is 100 square kilometres.

Saracen also agreed to buy Pinnacles project ore and process it through Carosue Dam.

Next steps at Pinnacles include geological and structural mapping.

Nexus has two other projects in its Eastern Goldfields portfolio, Mt Celia and Triumph, south of the towns of Leonora and Laverton.

The projects are near Matsa Resources Limited’s (ASX:MAT) (FRA:KB2) Lake Carey exploration and development project and planned Fortitude gold mine.

They are also in the same district as AngloGold Ashanti Limited’s (NYSE:AU) (JSE:ANG) (FRA:AOD) (OTCMKTS:AULGF) Sunrise Dam gold mine and Gold Fields Limited’s (NYSE:GFI) (JSE:GFI) (SWX:GOLI) (OTCMKTS:GFIOF) Granny Smith operations.

Inflection points

Progress of continued drilling at Wallbrook Gold Project

Advancement of Pinnacles Gold Project and progression of project earn-ins

Gold mining sentiment and wider support for Goldfields projects

Success of Goldfields neighbours with more mature projects

Managing director Andy Tudor flags upcoming drill program

“The Wallbrook project now is a full 250 square kilometres (in) a very large, contiguous package,” Nexus managing director Andy Tudor told the Proactive Investors Stocktube video channel in an interview earlier this week. “We’re getting ready for a fairly-extensive drill program and that’s all very exciting.”

 

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Wed, 13 Feb 2019 16:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214549/nexus-minerals-to-drill-at-wallbrook-gold-project-on-eastern-goldfields-214549.html
<![CDATA[Media files - Nexus Minerals MD details upcoming exploration works at Wallbrook Gold Project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12157/nexus-minerals-md-details-upcoming-exploration-works-at-wallbrook-gold-project-12157.html Mon, 11 Feb 2019 12:04:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12157/nexus-minerals-md-details-upcoming-exploration-works-at-wallbrook-gold-project-12157.html <![CDATA[News - Nexus Minerals identifies gold drill targets at Wallbrook Project ]]> https://www.proactiveinvestors.com.au/companies/news/213848/nexus-minerals-identifies-gold-drill-targets-at-wallbrook-project-213848.html Nexus Minerals Ltd (ASX:NXM) has completed geological mapping of the Paint and Crusader prospects within its Wallbrook Gold Project in the Eastern Goldfields of Western Australia.

The mapping combining with other exploration data has allowed the company to identify high-priority drill targets.

A reverse circulation (RC) drill program is planned for late February 2019.

READ: Nexus Minerals outlines busy work program at Wallbrook

The Paint prospect is considered to be prospective for Karari-style mineralisation.

The prospect shows numerous similarities to the Karari deposit owned by Saracen Mineral Holdings Ltd (ASX:SAR).

Exploration at Paint to date, which includes multiple surveys, has resulted in the identification of a priority drill target area.

Crusader has open pit gold potential

The Crusader prospect is considered to be prospective for steeply dipping sheeted mineralisation associated with sub-vertical vein sets, amenable to open pit mining.

Nexus’ RC drill program will concentrate on mineralisation from surface to a vertical depth of around 100 metres.

Similar to paint, previous exploration has been used to identify a priority drill target area.

Recently acquired Templar prospect planned exploration

The recently acquired Templar prospect will be subject to ground exploration activities in the current March quarter.

Historical data review and database integration of the complete 250 square kilometre Wallbrook tenement package has commenced and will be ongoing in 2019.

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Mon, 04 Feb 2019 10:49:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213848/nexus-minerals-identifies-gold-drill-targets-at-wallbrook-project-213848.html
<![CDATA[News - Nexus Minerals outlines busy work program at Wallbrook ]]> https://www.proactiveinvestors.com.au/companies/news/213203/nexus-minerals-outlines-busy-work-program-at-wallbrook-213203.html Nexus Minerals Ltd (ASX:NXM) will focus exploration efforts on its Wallbrook Gold Project in Western Australian during the current March quarter.

During the recent December quarter Nexus undertook ground-based exploration activities at Wallbrook, which it acquired from Saracen Mineral Holdings Ltd (ASX:SAR).

Wallbrook is considered underexplored and highly prospective for the discovery of significant gold mineralisation.

Drilling completed by Nexus in 2018 demonstrated this prospectivity.

READ: Nexus Minerals sets sight on discovering Eastern Goldfields’ next large-scale gold deposit

Notably, within the project’s district 5 million ounces of gold resources are hosted in a similar geological setting to that underlying the Nexus tenement holding.

During the December quarter Nexus also completed the Newmont tenement acquisition, increasing the Wallbrook Project.

READ: Nexus Minerals adds to Wallbrook ground after completing acquisition from Newmont

The work plan for the current March quarter at Wallbrook is as follows:

• Historical data review and database integration of new tenements;
• Geological and structural mapping;
• Analysis of regional geochemistry;
• Geophysical programs including gravity and ground magnetics;
• R&D sampling; and
• Drill testing of priority exploration targets.

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Thu, 24 Jan 2019 09:31:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213203/nexus-minerals-outlines-busy-work-program-at-wallbrook-213203.html
<![CDATA[Media files - Nexus Minerals will be busy in 2019 with two-pronged approach for Wallbrook project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11646/nexus-minerals-will-be-busy-in-2019-with-two-pronged-approach-for-wallbrook-project-11646.html Wed, 19 Dec 2018 09:15:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11646/nexus-minerals-will-be-busy-in-2019-with-two-pronged-approach-for-wallbrook-project-11646.html <![CDATA[News - Nexus Minerals adds to Wallbrook ground after completing acquisition from Newmont ]]> https://www.proactiveinvestors.com.au/companies/news/210168/nexus-minerals-adds-to-wallbrook-ground-after-completing-acquisition-from-newmont-210168.html Nexus Minerals Ltd (ASX:NXM) has completed the acquisition of three tenements adjacent to its Wallbrook Gold Project in WA from Newmont Mining Corp’s (NYSE:NEM) Newmont Exploration.

The 190 square kilometres of tenements means Wallbrook now covers 250 square kilometres of highly prospective geological units known to host significant district gold mineralisation.

READ: Nexus Minerals sets sight on discovering Eastern Goldfields’ next large-scale gold deposit

Nexus plans to accelerate exploration across the enlarged underexplored project within WA’s Eastern Goldfields.

In this regard, the company has started high-resolution ground magnetic survey work and geological/structural mapping.

A gravity survey and gradient array induced polarisation (IP) survey are due to begin next week.

READ: Nexus Minerals acquiring additional tenements to expand its Wallbrook Gold Project

The new ground has been acquired for total consideration of $13,100 and a 2% net smelter royalty on all mineral product extracted and recovered from the tenements.

These new tenements are along strike immediately to the north, south and encompassed within the existing project tenements.

The Wallbrook project is considered underexplored and highly prospective for the discovery of significant gold mineralisation.

Recent drilling completed by Nexus has demonstrated this prospectivity.

Nexus Minerals’ Wallbrook Gold Project in WA’s Eastern Goldfields.

Exploration plans

Exploration activities to be undertaken at Wallbrook over the coming six months include:

- Historical data review and database integration; - Geological and structural mapping; - Analysis of regional geochemistry; - Ground magnetic survey; - Gravity and IP surveys; and - Drilling of exploration targets identified.

The drilling is expected to begin during the March quarter of 2019.

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

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Thu, 29 Nov 2018 11:06:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210168/nexus-minerals-adds-to-wallbrook-ground-after-completing-acquisition-from-newmont-210168.html
<![CDATA[News - Nexus Minerals sets sight on discovering Eastern Goldfields’ next large-scale gold deposit ]]> https://www.proactiveinvestors.com.au/companies/news/207905/nexus-minerals-sets-sight-on-discovering-eastern-goldfields-next-large-scale-gold-deposit-207905.html Nexus Minerals Ltd (ASX:NXM) is aiming to discover a large-scale gold deposit at its strategic landholding in the Eastern Goldfields of Western Australia.

The company is currently progressing substantial ground-based exploration activities at its Wallbrook Gold Project.

Nexus is also exploring for gold deposits at the Pinnacles Gold Project which is less than 5 kilometres along strike from the +4-million ounce Carosue Dam operation, owned and operated by Saracen Mineral Holdings (ASX:SAR).

Nexus project locations

Last month, Nexus confirmed high-grade gold drilling results from its 3,992-metre reverse circulation drill program at the Wallbrook Gold Project.

READ: Nexus Minerals’ drilling confirms high-grade gold intersections at Wallbrook Gold Project

High-grade intersections from 1-metre samples include:

3 metres at 19.36 g/t gold (including 2 metres at 27.18 g/t gold);

3 metres at 6.04 g/t gold (including 1 metre at 14.76 g/t gold); and

3 metres at 4.88 g/t gold (including 1 metre at 9.70 g/t gold).

Importantly, the results confirm the presence of high grade mineralised zones within a broader low-grade mineralised halo.

The mineralisation, alteration style and grades are analogous to Saracen’s operating Karari mine and their historical Porphyry and Wallbrook mines.

READ: Nexus Minerals acquiring additional tenements to expand its Wallbrook Gold Project

Nexus recently signed an agreement with Newmont Mining Corp's (NYSE:NEM, SWX:NEM, ETR:NMM, VIE:NEWM) Newmont Exploration to purchase three tenements covering about 190 square kilometres of prospective geological terrain contiguous with Nexus’ existing Wallbrook Gold Project.

Post completion, the greater gold project will cover 250 square kilometres of prospective geological units known to host significant district-scale gold mineralisation.

Nexus has planned a series of exploration activities to be completed during Q4 2018 at Wallbrook, including:

geological, alteration and structural mapping;

grid-induced polarisation (IP) and resistivity geophysical survey over the Paint prospect;

ground magnetic survey over the Paint prospect;

gravity survey and ground magnetic surveys covering the new Templar prospect;

priority drill target selection for 2019 drill program.

 

The company has also planned exploration activities on the new tenements at Wallbrook that were acquired from Newmont.

Newmont will provide a regional database to help Nexus with historical data compilation and exploration strategy development.

The Pinnacles Gold Project is all but throwing distance to Saracen’s Karari mine and from an exploration perspective Nexus has only scratched the surface in seeking out a Karari-style deep plunging ore body.

The company’s current exploration focus at Pinnacles is the GT7 anomaly which exhibits the following Carosue Dam-style gold features:

elevated gold and pathfinder geochemistry;

a northeast/southwest fault splay location off the Yilgangi Fault; and

positioning over a gravity low.

Nexus' 6-month program

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Fri, 26 Oct 2018 16:43:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207905/nexus-minerals-sets-sight-on-discovering-eastern-goldfields-next-large-scale-gold-deposit-207905.html
<![CDATA[Media files - Nexus Minerals about to do a lot of ground work on newly enlarged Wallbrook Project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10632/nexus-minerals-about-to-do-a-lot-of-ground-work-on-newly-enlarged-wallbrook-project-10632.html Thu, 27 Sep 2018 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10632/nexus-minerals-about-to-do-a-lot-of-ground-work-on-newly-enlarged-wallbrook-project-10632.html <![CDATA[News - Nexus Minerals acquiring additional tenements to expand its Wallbrook Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/205275/nexus-minerals-acquiring-additional-tenements-to-expand-its-wallbrook-gold-project-205275.html Nexus Minerals Ltd (ASX:NXM) has signed an agreement with Newmont Exploration to acquire a 190 square kilometre tenement package adjacent to Nexus’ Wallbrook Gold Project in Western Australia.

Nexus will acquire the tenements for a total consideration of $13,100 and a 2% net smelter royalty on all mineral product extracted and recovered from the tenements.

The tenements are located along strike immediately to the north, south and encompassed within the existing Wallbrook Gold Project tenements owned by Nexus.

Over 5 million ounces of gold resources within the Carosue Dam district are hosted in a similar geological setting to Nexus’ tenement holding

Post completion, Nexus’ greater Wallbrook Gold Project will cover 250 square kilometres of prospective geological units known to host significant district gold mineralisation.

READ: Nexus Minerals’ drilling confirms high-grade gold intersections at Wallbrook Gold Project

Nexus recently confirmed high-grade gold hits from a reverse circulation (RC) drill program at Wallbrook.

High-grade intersections from 1 metre samples include:

• 3 metres at 19.36 g/t gold (including 2 metres at 27.18 g/t gold);
• 3 metres at 6.04 g/t gold (including 1 metre at 14.76 g/t gold); and
• 3 metres at 4.88 g/t gold (including 1 metre at 9.70 g/t gold).

Upcoming exploration program

Exploration activities to be undertaken at the Wallbrook Gold Project over the coming six months will include:

• Historical data review and database integration;
• Geological and structural mapping;
• Analysis of regional geochemistry;
• Geophysical programs including gravity and induced polarisation (IP) surveys; and
• Drilling of exploration targets identified.

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Thu, 20 Sep 2018 11:29:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205275/nexus-minerals-acquiring-additional-tenements-to-expand-its-wallbrook-gold-project-205275.html
<![CDATA[News - Nexus Minerals’ drilling confirms high-grade gold intersections at Wallbrook Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/204291/nexus-minerals-drilling-confirms-high-grade-gold-intersections-at-wallbrook-gold-project-204291.html Nexus Minerals Limited (ASX:NXM) has revealed the final results of its 3,992-metre reverse circulation (RC) drill program at the Wallbrook Gold Project in the Eastern Goldfields of Western Australia.

The Wallbrook RC program comprised 18 holes drilled to a maximum depth of 300 metres, across three prospect areas. The drill holes successfully tested high priority drill targets and exploration technique methodology.

High-grade intersections from 1 metre samples include:
• 3 metres at 19.36 g/t gold (including 2 metres at 27.18 g/t gold)
• 3 metres at 6.04 g/t gold (including 1 metre at 14.76 g/t gold)
• 3 metres at 4.88 g/t gold (including 1 metre at 9.70 g/t gold)

1-metre assay results from RC drill holes (>2 g/t gold)

Importantly, the results confirm the presence of high grade mineralised zones within broader low-grade mineralised halo.

The mineralisation, alteration style and grades are analogous to Saracen Mineral Holdings’ (ASX:SAR) operating Karari mine, and their historical Porphyry and Wallbrook mines.

READ: Nexus Minerals assays gold in all 18 holes drilled at Wallbrook

The results from Nexus’ drilling show that the prospective rocks are being mapped quite accurately with the use of gravity and induced polarisation (IP) geophysics.

These prospective altered rocks occur over an extensive corridor striking 10’s of kilometres with widths of up to 1-kilometre within the Nexus tenement package and are widely gold mineralised within this zone.

This now provides ‘proof of concept’ and focus for ongoing exploration planning throughout the complete 60 square kilometres tenement package.

Targeted exploration of the project area will utilise surface geology and geochemistry, in conjunction with gravity / IP survey results and historical aeromagnetic data, to guide exploration drill programs.

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Thu, 06 Sep 2018 12:12:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204291/nexus-minerals-drilling-confirms-high-grade-gold-intersections-at-wallbrook-gold-project-204291.html
<![CDATA[News - Nexus Minerals assays gold in all 18 holes drilled at Wallbrook ]]> https://www.proactiveinvestors.com.au/companies/news/202243/nexus-minerals-assays-gold-in-all-18-holes-drilled-at-wallbrook-202243.html Nexus Minerals Ltd (ASX:NXM) has completed drill programs at both its Wallbrook Gold Project and Pinnacles GT6 prospect in Western Australia.

The 18-hole, 3,922-metre reverse circulation (RC) drill program at Wallbrook intersected gold in all holes including 4 metres at 12.86 g/t gold.

Significantly, the mineralisation, alteration style and grades are analogous to the nearby mines including the operating Karari gold mine owned by Saracen Mineral Holdings Ltd (ASX:SAR).

Four prospects targeted in drilling at Wallbrook

Next phase of drilling to target high-grade mineralisation

Nexus’s managing director Andy Tutor said: “These first pass drill results are extremely encouraging and prove the efficacy of combined geology, geophysics and deep RC drilling in this underexplored region.

“Ongoing exploration work and modelling will focus on refining geophysical and geological interpretation and extending geophysical datasets with an aim of identifying controls and vectors towards high grade mineralisation prior to the next phase of drilling.”

Assays pending from aircore program at Pinnacles

The Pinnacles GT6 prospect is within the Pinnacles Project in the Eastern Goldfields of Western Australia, south of the Wallbrook project.

The GT6 aircore program consisted of 53 holes for 4,156 metres along 7 drill lines 150 metres apart.

Drilling was following up previous results including 12 metres at 3.27 g/t gold.

Multi-element geochemistry results are pending.

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Mon, 06 Aug 2018 10:12:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202243/nexus-minerals-assays-gold-in-all-18-holes-drilled-at-wallbrook-202243.html
<![CDATA[News - Nexus Minerals’ Andy Tudor to outline gold drilling progress at Proactive's CEO Sessions ]]> https://www.proactiveinvestors.com.au/companies/news/201005/nexus-minerals-andy-tudor-to-outline-gold-drilling-progress-at-proactive-s-ceo-sessions-201005.html Nexus Minerals Ltd’s (ASX:NXM) managing director Andy Tudor will present at next week's Proactive Investors CEO Sessions.

The company provides an interesting valuation as it holds $4 million in cash and has a market cap of $7 million, which provides an enterprise value of just $3 million.

Nexus is focused on gold exploration in Western Australia’s Eastern Goldfields and has upcoming news flow based on its biggest quarter of drilling to date.

A 6,000-metre aircore drill program is almost complete ahead of schedule at the Pinnacles Gold Project, which Nexus holds in a joint venture with Saracen Mineral Holdings Limited (ASX:SAR).

This is following up promising results from a 4,000-metre aircore drill program earlier this year, which included 12 metres at 3.27 g/t gold from 100 metres.

At the Wallbrook Gold Project, which was recently acquired from Saracen, a 4,000-metre RC drill program is advancing with first results expected in August.

Register today to find out more.

Sydney details, Monday, July 23, 2018

Melbourne details, Tuesday, July 24, 2018

Or call John Phillips on (02) 9280 0700

The Proactive CEO Sessions will feature five presenting companies in total.

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Wed, 18 Jul 2018 15:47:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201005/nexus-minerals-andy-tudor-to-outline-gold-drilling-progress-at-proactive-s-ceo-sessions-201005.html
<![CDATA[Media files - Nexus Minerals wrapping drill programs at two eastern goldfields projects this week ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9766/nexus-minerals-wrapping-drill-programs-at-two-eastern-goldfields-projects-this-week-9766.html Tue, 03 Jul 2018 18:46:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9766/nexus-minerals-wrapping-drill-programs-at-two-eastern-goldfields-projects-this-week-9766.html <![CDATA[News - Nexus Minerals is cashed up and leveraged to gold exploration success ]]> https://www.proactiveinvestors.com.au/companies/news/198225/nexus-minerals-is-cashed-up-and-leveraged-to-gold-exploration-success-198225.html Nexus Minerals Ltd (ASX:NXM) provides an intriguing valuation, holding $4.2 million in cash at the end of March 2018, while have a market cap in the region of $6 million.

This provides Nexus with an enterprise value of just $2 million.

Nexus has now commenced a dual-exploration strategy in the Eastern Goldfields of Western Australia.

Aircore drill program

First up is a 6,000 metre aircore drill program at the Pinnacles GT6 prospect which will consist of 56 holes, along 7 drill lines 150 metres apart, with 50 metre drill centres along the lines.

They will be drilled to top of fresh rock with samples subjected to multi-element geochemical analysis and geological / alteration mapping.

Results from the initial round of drilling earlier in the year at the prospect include: 12 metres at 3.27g/t gold from 100 metres.

READ: Nexus Minerals hits high-grade gold at GT6 prospect Reverse circulation drilling

Nexus is also undertaking a 4,000 metre reverse circulation program at the Wallbrook gold project.

The program will comprise around 20 holes to a maximum depth of 350 metres, across a number of prospect areas.

Nexus acquired Wallbrook from Saracen Mineral Holdings Ltd (ASX:SAR)

The transaction includes an ore purchase agreement, whereby any future ore mined from the project tenement may be purchased by Saracen for processing through its 2.4Mtpa CIL processing plant at Carosue Dam Operations, 35 kilometres to the south of the project area via existing haul road network.

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Tue, 05 Jun 2018 10:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198225/nexus-minerals-is-cashed-up-and-leveraged-to-gold-exploration-success-198225.html
<![CDATA[News - Nexus Minerals hits high-grade gold at GT6 prospect in Western Australia’s Eastern Goldfields ]]> https://www.proactiveinvestors.com.au/companies/news/196498/nexus-minerals-hits-high-grade-gold-at-gt6-prospect-in-western-australias-eastern-goldfields-196498.html Nexus Minerals Ltd (ASX:NXM) has enhanced its golden future after receiving a wide high-grade gold intersection from GT6 prospect of the Pinnacles project in Western Australia’s Eastern Goldfields.

A 12-metre intersection from 100 metres returned 3.27 g/t gold, including 4 metres from 108 metres at 6.37 g/t.

The company has received initial results from a recently completed 76-hole, 4,672-metre aircore drill program which was drilled to the top of fresh rock.

READ: Nexus Minerals searches for the next Karari at Pinnacles Gold Project

Four broad spaced lines were drilled, testing a 3 kilometre by 600-metre surface auger gold anomaly.

Nexus has received 4-metre composite gold results from about 50% of the program with the remainder due this month.

Pinnacles project is largely under-explored and commences less than 5 kilometres south of, and along strike from the Carosue Dam operations.

This 4-million ounce plus mining operation, which includes the Karari underground gold mine, is owned by Saracen Mineral Holdings Limited (ASX:SAR).

READ: Nexus Minerals begins drilling as it seeks to enhance gold potential at Pinnacles

During the aircore program, gold mineralisation was intersected adjacent to the major Yilgangi Fault splay regional structure, over a gravity low.

This structure is synonymous with all Carosue Dam deposits.

An auger regional geochemical sampling program has also been completed infilling three targets identified in a first pass regional auger geochemical program with results pending.

Follow-up program

A 6,000-metre follow-up aircore program covering an 800-metre by 400-metre core anomaly is expected to start at GT6 in early June.

Nexus holds 125 square kilometres of highly prospective geological terrain within a major regional structural corridor and is exploring for gold deposits.

The company also has a joint venture over the Pinnacles JV Gold Project with Saracen.

Nexus recently acquired the Wallbrook tenement package from Saracen in a transaction completed at the start of April.

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Tue, 08 May 2018 09:49:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196498/nexus-minerals-hits-high-grade-gold-at-gt6-prospect-in-western-australias-eastern-goldfields-196498.html
<![CDATA[News - Nexus Minerals searches for the next Karari at Pinnacles Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/195306/nexus-minerals-searches-for-the-next-karari-at-pinnacles-gold-project-195306.html Nexus Minerals Ltd (ASX:NXM) is actively exploring for gold deposits on its highly prospective tenement package in the Eastern Goldfields of Western Australia.

The recent addition of the Wallbrook tenement package will further advance these gold exploration efforts.

Nexus Minerals’ flagship Pinnacles Gold Project is largely unexplored and commences less than 5 kilometres to the south of, and along strike from Carosue Dam.

This 4-million ounce plus Carosue Dam operation is owned and operated by Saracen Mineral Holdings Limited (ASX:SAR).

Nexus has more than just a neighbourly association with Saracen

Nexus acquired the Wallbrook tenement package from Saracen in a transaction completed at the start of April.

The upfront consideration of 1.5 million Nexus shares, as well as an agreement to subscribe for 3.8 million shares at a price of 8.4 cents per share with attaching options will see Saracen take a sizeable stake in the group.

This has also helped Nexus to maintain its robust cash position of about $4.5 million, suggesting its market capitalisation of $7 million is shy of fair value.

Wallbrook highly prospective

The Wallbrook region has historical production of more than 350,000 ounces but none of this was from the tenements now owned by Nexus.

Consequently, while considered highly prospective, it is currently an unknown quantity.

Ore mined from the Wallbrook tenement may be purchased by Saracen for processing through its Carosue Dam operations.

However, as mentioned, Nexus’ relationship with Saracen extends beyond its financial stake in the company with its Pinnacles project adjoining Saracen’s tenements.

Pinnacles is all but throwing distance to Saracen’s Karari mine and from an exploration perspective Nexus has only scratched the surface in seeking out a Karari-style deep plunging ore body.

About Karari

Karari was one of the original deposits that constituted justifying the construction of the Carosue processing facility in 1999.

The pit lies about 500 metres to the south of the Carosue Dam processing plant, with all ore trucked to the mill.

Historically, this was a high tonnage deposit which lent itself to additional cutbacks and potentially a bulk mining method for an underground operation.

Average grade of 1.8 g/t gold

Over its four-year life, 4.7 million tonnes of ore averaging 1.8 g/t for 278,000 ounces were mined from the Karari deposit.

From a geological perspective, mineralisation is dominated by silica-sericite-pyrite alteration hosted in a broad hematite altered sandstone unit.

The Karari underground mine in 2017.

A series of north plunging high-grade ore shoots are developed at the intersection of key mineralised structures.

Identifying similar geological features, particularly deep plunging shoots, at Pinnacles would be an early indication that Nexus is on the right track.

Possibility of a Karari-type strike

Nexus holds a 125 square kilometre land package of highly prospective terrain within a major regional structural corridor, giving itself a fair chance of a Karari-type strike.

The company also has a joint venture over the Pinnacles JV Gold Project with Saracen.

This joint venture is consistent with the company’s strategy of investing in advanced gold exploration assets.

Regional geological, geophysical and structural interpretation has enabled early stage targeted and focused auger surface geochemical sampling and reverse circulation drilling.

Similar exploration approach to Karari in the 1990s

This was the strategy employed during the developmental stages of Karari in the 1990s.

Aircore results shaped a targeted reverse circulation drilling program which eventually delineated deeper high-grade mineralisation.

Consequently, recent drilling which only covered a portion of the Pinnacles territory could be viewed as the start of something bigger.

Two holes with widths of about 20 metres at Pinnacles graded 0.9 g/t and 0.8 g/t gold at depths of 10 metres and 14 metres respectively.

Interestingly, relatively wide intersections of 10 metres and 14 metres respectively were delineated in both holes which graded 1.6 g/t and 1 g/t.

The price is right

In fiscal 2013, the mid-range gold price was US$1,525.

Saracen saw the benefits in developing Karari at the prevailing gold price despite having an average grade of about 1.5 g/t gold.

During that period the mid-range AUD:USD exchange rate was US$0.97.

This equates to an Australian dollar gold price of US$1,570.

The gold price is currently about US$1,345 an ounce and the exchange rate is around US$0.78.

This translates to an Australian dollar gold price of about $1,725.

Determining economic viability

It could be argued that if Karari was worth developing then, a similar deposit at Pinnacles would be deemed as economically viable today.

Under Saracen’s ownership, Karari delivered 1.3 million tonnes of ore at a grade of 1.48 g/t for 60,740 ounces in fiscal 2013.

Karari was worth progressing in 2013 with the gold price hovering some $150 per ounce lower than it is now, and Saracen’s investment in the project has delivered strong returns.

The deeper you go the better it gets at Karari

Karari has now been developed to a depth of 230 metres below the open pit and Saracen has invested in dual declines to efficiently extract multiple ore loads.

Remember, Nexus’ drill results were from a mid-range level of 12 metres.

Is also worth noting that what was deemed as the Karari ‘discovery hole’ drilled in 1997 returned 12 metres at 2.05 g/t gold from 38 metres.

This was at a time when the gold price was hovering in the vicinity of US$300 per ounce.

Karari production up 66% and grades of 9.3 g/t identified at depth

Total ore production from Karari in fiscal 2017 was 866,000 tonnes at 2.8 g/t for 77,000 ounces, a 66% increase on the previous year's tonnage.

Underground drilling at Karari has continued through the year from two additional drill platforms, resulting in the ore body being extended a further 100 metres down dip.

However, its best days may be ahead with outstanding results released in February, demonstrating wide high-grade intersections.

These included 17.3 metres at 8.3 g/t, 44.7 metres at 4.4 g/t and 12.2 metres at 9.3 g/t.

The average depth of Karari and Saracen’s other underground mines in that region are 350 metres

However, it was a discovery at 38 metres and ongoing success over time, that has enticed Saracen to dig another 300 metres.

Can Nexus come up with that discovery hole?

investors will be watching Nexus as it undertakes further drilling at Pinnacles.

Drill results from the recent 8-hole program at Pinnacles provided the company with encouragement to test the full 3-kilometre by 600-metre extent of the anomalous gold zone referred to as the GT6 anomaly.

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

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

These features were observed in recent drilling and prospects with these characteristics will be subject to targeted exploration programs in 2018.

Could 6000-metres of drilling at GT6 be a defining moment?

The recently commenced 6000-metre/75-hole aircore drill program at the GT6 anomaly will be crucial in terms of providing evidence as to the existence of a major gold mineralised system.

The anomaly is on a north-south offset of the Yilgangi Fault, a structural setting synonymous with all Carosue Dam deposits.

In addition to this, the anomaly is situated over Carosue Dam Basin sediments and is proximal to a 1.7-kilometre gravity low corridor.

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Thu, 19 Apr 2018 07:56:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195306/nexus-minerals-searches-for-the-next-karari-at-pinnacles-gold-project-195306.html
<![CDATA[News - Nexus Minerals completes acquisition of Wallbrook Gold Project near Saracen's Carosue Dam ]]> https://www.proactiveinvestors.com.au/companies/news/194379/nexus-minerals-completes-acquisition-of-wallbrook-gold-project-near-saracen-s-carosue-dam-194379.html Nexus Minerals Ltd (ASX:NXM) has completed the acquisition of Wallbrook Gold Project from Saracen Mineral Holdings Limited (ASX:SAR) for consideration of about 1.5 million Nexus shares.

Saracen also subscribed for 3.8 million Nexus shares at a price of 8.4 cents per share with attaching options, providing the group with capital to invest in the Wallbrook project.

In keeping with management’s strategy

This acquisition is consistent with Nexus' strategy of investing in advanced gold exploration assets.

The transaction also includes an ore purchase agreement.

This would enable future ore mined from the project tenement to be purchased by Saracen for processing through its 2.4 million tonnes per annum processing plant.

The plant is part of Saracen’s Carosue Dam Operations, which lie 35 kilometres south of the project area via an existing haul road network.

Wallbrook underexplored

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

The addition of the Wallbrook tenement package will further advance these exploration efforts.

Nexus’ tenement package at the Pinnacles Gold Project is largely underexplored and the recent commencement of drilling could deliver promising news.

READ: Nexus Minerals begins drilling as it seeks to enhance gold potential at Pinnacles

The Pinnacles project is less than 5 kilometres to the south of, and along strike from, Saracen’s 4 million ounce plus Carosue Dam mining operations. 

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Fri, 06 Apr 2018 09:11:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194379/nexus-minerals-completes-acquisition-of-wallbrook-gold-project-near-saracen-s-carosue-dam-194379.html
<![CDATA[News - Nexus Minerals begins drilling as it seeks to enhance gold potential at Pinnacles ]]> https://www.proactiveinvestors.com.au/companies/news/194202/nexus-minerals-begins-drilling-as-it-seeks-to-enhance-gold-potential-at-pinnacles-194202.html Nexus Minerals Ltd (ASX:NXM) has started an extensive aircore drilling program at the GT6 prospect of its Pinnacles Gold Project in Western Australia’s Eastern Goldfields.

The 6,000-metre program will test the full 3-kilometre by 600-metre extent of the anomalous gold zone.

A regional auger geochemical sampling program is also underway with the aim of infilling three key target areas identified in previous regional programs.

READ: Nexus Minerals’ drilling continues to highlight gold potential at Pinnacles

Shares are up almost 7% to 8 cents.

Results from the company’s initial drill program at GT6 in 2017 provided encouragement to test the full extent of the anomalous zone.

Geological and mineralisation features exhibited to date are consistent with results from initial exploration at Karari gold mine, 20 kilometres to the north, in the mid-1990s.

Karari is part of the 4 million ounce Carosue Dam operations of Saracen Mineral Holdings Limited (ASX:SAR), which also include the Whirling Dervish mine.

Near operating gold mine

Nexus’ Pinnacles regional project comprises 125 square kilometres of highly prospective geological terrain within a major regional structural corridor south of the Saracen properties.

It also has the Pinnacles Joint Venture Gold Project with Saracen northwest of GT6.

Auger soil survey results and prospect areas in the Carosue Dam Basin.

The aircore program will comprise about 75 holes drilled to the top of fresh rock.

Bottom of hole samples will be subjected to multi-element geochemical analysis and geological/alteration mapping.

Seeking major gold system

These elements will be critical in providing evidence of the existence of a major gold mineralising system.

The setting of the GT6 anomaly is considered highly prospective for the discovery of significant gold mineralisation.

It is on a north-south offset of the Yilgangi Fault, a structural setting synonymous with all Carosue Dam deposits.

Extensive anomaly

GT6 is an extensive anomaly comprising three areas, the main central anomaly and two smaller anomalies to the south and north.

The larger central anomaly forms a rough crescent shape which fringes a gravity low to the southwest.

Of the others, southern is centred on the gravity low that extends in a corridor to the south, whilst the northern anomaly is offset to the northeast of the main anomaly.

Multiple target areas

Previous regional auger geochemical sampling programs have identified multiple target areas over the Pinnacles tenement package.

The new sampling will complete first pass coverage of the project area.

It will provide infill data over three gold anomalies identified in previous regional programs.

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

Nexus recently added the Wallbrook Gold Project to its portfolio and this is expected to further advance its gold exploration efforts.

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

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Wed, 04 Apr 2018 12:24:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194202/nexus-minerals-begins-drilling-as-it-seeks-to-enhance-gold-potential-at-pinnacles-194202.html
<![CDATA[News - Nexus Minerals’ drilling continues to highlight gold potential at Pinnacles ]]> https://www.proactiveinvestors.com.au/companies/news/191744/nexus-minerals-drilling-continues-to-highlight-gold-potential-at-pinnacles-191744.html 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.

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Fri, 16 Feb 2018 11:16:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191744/nexus-minerals-drilling-continues-to-highlight-gold-potential-at-pinnacles-191744.html
<![CDATA[News - Nexus Minerals highlights gold potential at project being acquired ]]> https://www.proactiveinvestors.com.au/companies/news/190417/nexus-minerals-highlights-gold-potential-at-project-being-acquired-190417.html Nexus Minerals’ (ASX:NXM) review of historical data for the Wallbrook Gold Project in Western Australia has revealed significant gold assay results.

The company is in the process of acquiring the project from Saracen Minerals (ASX:SAR).

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

The historical data search has resulted in assays from rock chips and multiple types of drilling.

Rock chips feature grades up to 88.9 g/t gold and drilling features intersections of 3 metres at 21.9 g/t gold.

Rotary air blast, reverse circulation and diamond drilling

Historical rotary air blast (RAB) drilling results include 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.

Furthermore, historical reverse circulation drilling results include 3 metres at 21.9 g/t gold, 12 metres at 5.3 g/t gold and 5 metres at 9.9 g/t gold.

Finally, a single diamond hole returned 9 metres at 8.8 g/t gold.

The transaction includes an ore purchase agreement

The transaction includes an ore purchase agreement, whereby any future ore mined from the project tenement may be purchased by Saracen for processing.

Saracen owns a 2.4 million tonnes per annum processing plant at its Carosue Dam Operations located 35 kilometres to the south of the project area via existing haul road network.

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Tue, 23 Jan 2018 09:16:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190417/nexus-minerals-highlights-gold-potential-at-project-being-acquired-190417.html
<![CDATA[News - Nexus Minerals to boost gold portfolio with acquisition from Saracen ]]> https://www.proactiveinvestors.com.au/companies/news/190133/nexus-minerals-to-boost-gold-portfolio-with-acquisition-from-saracen-190133.html Nexus Minerals Ltd’s (ASX:NXM) pending acquisition of Saracen Minerals’ (ASX:SAR) Wallbrook Gold Project is consistent with the company’s strategy of investing in advanced gold exploration assets.

Under the binding terms of agreement, Nexus Minerals will acquire the project exploration tenements package for a consideration of 1.49 million Nexus Minerals shares.

Strengthening of ties with Saracen

Saracen will also subscribe for 3.8 million shares at $0.084 per share, an 11% premium to Nexus Minerals’ 30 day volume weighted average price (VWAP).

Following the transactions, Saracen will hold an equity stake in Nexus Minerals of circa 6%.

Andy Tudor, managing director, said: “We are pleased to welcome successful Goldfields miner and existing JV partner, Saracen, as a strategic shareholder, and also have the opportunity to secure such a highly prospective tenement package at the same time.

“Saracen’s extensive experience and technical expertise in the region will be invaluable to Nexus in our exploration efforts to make the next big gold discovery in the district.”

Nexus plans to ramp up exploration

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

The addition of Wallbrook will advance these gold exploration efforts, and the company intends to accelerate exploration across the 58 square kilometre Wallbrook tenement package.

Other projects also have exploration potential

Nexus Minerals’ assets in the region are highly prospective, and include its wholly-owned Pinnacles Gold Project as well as a joint-venture agreement with Saracen where Nexus has a stake of 88%.

The company’s exploration model is targeting similar geological features to those that have been identified at the Carosue Dam Gold Project where there is surface gold in soil anomalies.

READ: Nexus Minerals’ drilling continues to highlight gold potential at Pinnacles Area largely unexplored and Nexus is well-funded

This region is largely underexplored and commences less than 5 kilometres to the south of, and along strike from, Saracen’s circa 4 million ounce Carosue Dam mining operations, which includes the Karari underground gold mine.

Nexus Minerals holds a significant land package of 125 square kilometres of highly prospective geological terrain within a major regional structural corridor.

The group is well funded with cash of circa $5 million, seemingly at odds with its market capitalisation of $8 million.

Substantial shareholder, Graham Kirk demonstrated his faith in the company in December, increasing his stake in the group from 10.5% to 12.43%.

READ: Nexus Minerals substantial shareholder increases stake to 12.43% ]]>
Wed, 17 Jan 2018 10:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190133/nexus-minerals-to-boost-gold-portfolio-with-acquisition-from-saracen-190133.html
<![CDATA[News - Nexus Minerals substantial shareholder increases stake to 12.43% ]]> https://www.proactiveinvestors.com.au/companies/news/188757/nexus-minerals-substantial-shareholder-increases-stake-to-1243-188757.html Nexus Minerals Ltd (ASX:NXM) is well funded with a cash balance over $5 million, yet its current market cap is circa $6 million, providing an enterprise value of just $1 million.

Substantial shareholder Graeme Kirke has increased his interest in the company to 12.43% from 10.5% through an on market acquisition of more than 1.58 million shares.

READ: Nexus Minerals’ drilling continues to highlight gold potential at Pinnacles

Nexus is an active gold explorer in a multi-million ounce gold region, the majority of which is largely underexplored.

Its professional and experienced management team is actively seeking gold joint venture opportunities.

Nexus holds the Pinnacles Regional Gold Project, Mt Celia Gold Project and Triumph Gold Project in the Goldfields of Western Australia.

Joint venture project with Saracen Gold Mines

It also has an 88% interest in the Pinnacles Joint Venture Gold Project with Saracen Mineral Holdings Limited (ASX:SAR).

Saracen has the Carosue Dam operations immediately north of Nexus’ Pinnacles Regional Gold Project.

Primary focus on Pinnacles Regional Gold Project

The primary focus of Nexus is on the Pinnacles Regional project and the company aims to compile and assess results from reverse circulation drilling in the first two months of 2018.

It also plans to undertake another drilling program in March and April of 2018 to follow up new target areas.

Geological and structural mapping has been scheduled for the Mt Celia project in March and April 2018.

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Thu, 14 Dec 2017 08:46:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188757/nexus-minerals-substantial-shareholder-increases-stake-to-1243-188757.html
<![CDATA[News - Nexus Minerals is a well-funded explorer leveraged to news flow ]]> https://www.proactiveinvestors.com.au/companies/news/187865/nexus-minerals-is-a-well-funded-explorer-leveraged-to-news-flow-187865.html Nexus Minerals Ltd (ASX:NXM) maintains a cash balance over $5 million, yet its current market cap is circa $6 million, providing an enterprise value of just $1 million.

Nexus is an Eastern Goldfields gold explorer, and has commenced a 3000 metre follow-up reverse circulation drilling at the Pinnacles Project.

The latest results from Pinnacles confirm previous 4 metre composite sample intersections, – including: 1 metre at 20.53g/t gold, 1 metre at 5.60g/t gold, 1 metre at 3.18g/t gold and 1 metre at 1.92g/t gold.

Prospectivity

The project is largely underexplored and commences less than 5 kilometres to the south of, and along strike from, Saracen Minerals Holdings Ltd (ASX:SAR) >4 million gold ounce Carosue Dam mining operations, and current operating Karari underground gold mine.

Nexus holds a land package covering 125 square kilometres of highly prospective geological terrain within a major regional structural corridor, and is actively exploring for gold deposits.

This positions Nexus as being leveraged to news flow.

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Tue, 28 Nov 2017 11:28:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187865/nexus-minerals-is-a-well-funded-explorer-leveraged-to-news-flow-187865.html
<![CDATA[News - Nexus Minerals’ drilling continues to highlight gold potential at Pinnacles ]]> https://www.proactiveinvestors.com.au/companies/news/186916/nexus-minerals-drilling-continues-to-highlight-gold-potential-at-pinnacles-186916.html Nexus Minerals Ltd (ASX:NXM) has received further significant gold intersections from a reverse circulation drill program at the Pinnacles Gold Project in Western Australia.

The Pinnacles gold project is located less than 10 kilometres along strike from Saracen Mineral Holdings’ (ASX:SAR) 1.97 million ounce Karari / Whirling Dervish gold mines.

Nexus’ 4-metre composite samples returned significant intersections from adjacent holes:

- 8 metres at 1.15 g/t gold (within 24 metres at 0.47 g/t gold); and
- 12 metres at 0.71 g/t gold (within 24 metres at 0.46g/t gold)

The company’s drill program was designed to test three previously identified high order auger soil geochemistry gold anomalies – GT5, GT6 and GT8.

Samples were submitted for analysis throughout the program, with the final results of the 4 metre composite sampling now all received.

Andy Tudor, managing director, commented: “These results from GT6 continue to highlight the potential for mineralisation similar to that seen nearby in the Saracen gold deposits.

“With each stage of the program, we continue to gain further knowledge regarding the geology, geochemistry and ultimately economic potential.”

Nexus will now collect and submit individual 1 metre samples for analysis, on any composite sample returning >0.1 g/t gold or exhibiting interesting geological features.

The analysis and interpretation of the results will allow follow up drilling to be planned.

Nexus is well funded with $5 million in cash and equivalents at the end of the September quarter.

Based on the latest share price of $0.078, the company has a market cap of just $6.5 million for an enterprise value of circa $1.5 million, providing room for further share price growth.

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Wed, 08 Nov 2017 14:34:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186916/nexus-minerals-drilling-continues-to-highlight-gold-potential-at-pinnacles-186916.html
<![CDATA[News - Nexus Minerals receives more results from gold drilling ]]> https://www.proactiveinvestors.com.au/companies/news/185994/nexus-minerals-receives-more-results-from-gold-drilling-185994.html Nexus Minerals (ASX:NXM) has received a new batch of results from its recently completed 48 hole, 4,108-metre drilling program at its Pinnacles Gold Project in Western Australia.

Drilling targeted three anomalies, GT5, GT6 and GT8 and results have now been received for all 17 holes drilled at the GT5 anomaly.

Anomalous gold results were returned in 7 of 17 holes at GT5 with 3 holes returning multiple anomalous zones.

The best result to date from the 17 holes assayed is 4 metres at 19.74 g/t gold from 68 metres depth.

The remaining results from 31 holes at the GT6 and GT8 anomalies are expected over the coming two weeks.

Drill program details

Three anomalies were tested in the 48-hole program in total:

- GT5: 17 holes for 1,700 metres;
- GT6: 26 holes for 1,908 metres; and
- GT8: 5 holes for 500 metres.

GT5 is a high priority 2.4x0.3 kilometre gold anomaly that shows good strike continuity within a sheared ultramafic unit.

GT6 is also a high priority 2.0x0.6 kilometre gold anomaly and similarly, GT8 is a high priority 800x500 metre gold anomaly.

Background

Nexus owns a 125 square kilometre portfolio of four gold projects all located in the Eastern Goldfields of Western Australia.

The company is focusing its attention on regional exploration programs over this prospective Pinnacles regional tenement package.

The Pinnacles regional project refers to the circa 100 square kilometres that surrounds the Pinnacles JV project, which sits on a granted 8 square kilometre mining lease.

The regional project is largely unexplored and commences less than 5 kilometres along strike from Saracen Mineral Holdings (ASX:SAR) 4+ million ounce Carosue Dam mining operations and the operating Karrari underground gold mine.

Saracen used similar style gravity surveys to what Nexus has used to help identify Carouse Dam, a major gold deposit.

Strong cash position

At the end of the September quarter, Nexus held $5.035 million in cash and equivalents.

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Mon, 23 Oct 2017 16:47:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185994/nexus-minerals-receives-more-results-from-gold-drilling-185994.html
<![CDATA[News - Nexus Minerals shares jump on first gold assays ]]> https://www.proactiveinvestors.com.au/companies/news/185013/nexus-minerals-shares-jump-on-first-gold-assays-185013.html Nexus Minerals (ASX:NXM) has received its first batch of drilling results from its recently completed 48 hole, 4,108-metre program at its Pinnacles Gold Project in Western Australia.

This first batch of assays accounts for 7 holes from the GT5 anomaly and features results of 4 metres at 19.74 g/t gold from 68 metres depth.

17 holes in total were drilled at the GT5 anomaly and the remaining holes from both this anomaly and the rest of the reverse circulation drilling program are expected over the coming three weeks.

Three anomalies were tested in the 48-hole program in total:

- GT5: 17 holes for 1,700 metres;
- GT6: 26 holes for 1,908 metres; and
- GT8: 5 holes for 500 metres.

GT5 anomaly

GT5 is a high priority 2.4x0.3 kilometre gold anomaly that shows good strike continuity within a sheared ultramafic unit.

Reverse circulation drill hole NMPRC40 intersected 4 metres at 19.74 g/t gold from 68-72 metres, in a highly sheared and altered lithology.

17 holes in total were drilled at GT5 and assays for the remaining 10 holes are expected shortly.

Background

Nexus owns a 125 square kilometre portfolio of four gold projects all located in the Eastern Goldfields of Western Australia.

The company is focusing its attention on regional exploration programs over this prospective Pinnacles regional tenement package.

The Pinnacles regional project refers to the circa 100 square kilometres that surrounds the Pinnacles JV project, which sits on a granted 8 square kilometre mining lease.

The regional project is largely unexplored and commences less than 5 kilometres along strike from Saracen Mineral Holdings (ASX:SAR) 4+ million ounce Carosue Dam mining operations and the operating Karrari underground gold mine.

Saracen used similar style gravity surveys to what Nexus has used to help identify Carouse Dam, a major gold deposit.

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Wed, 04 Oct 2017 12:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185013/nexus-minerals-shares-jump-on-first-gold-assays-185013.html
<![CDATA[News - Nexus Minerals' shares bound higher, while valuation intrigue remains ]]> https://www.proactiveinvestors.com.au/companies/news/183865/nexus-minerals-shares-bound-higher-while-valuation-intrigue-remains-183865.html Nexus Minerals Ltd's (ASX:NXM) shares rallied 9.6% yesterday to close at $0.08, following high priority gold targets being identified at the company's Pinnacles Gold Project, located in the Eastern Goldfields of Western Australia.

Nexus sits at a market cap. circa $6.5 million, yet holds a cash balance of $5.5 million, providing an enterprise value of just $1 million.

The valuation is intriguing based on the assets of the company, highlighted by the tenement package at Pinnacles.

The project is largely underexplored and commences less than 5 kilometres to the south of, and along strike from, Saracen Minerals Holdings Ltd (ASX:SAR) plus 4 million gold ounce Carosue Dam mining operations, and current operating Karrari underground gold mine.

In total Nexus holds a land package of 100 square kilometres of highly prospective geological terrain, and is actively exploring for gold deposits.

Latest exploration

A  detailed auger soil survey was recently completed, delivering high priority gold targets for drill testing.

Highlights include:

- GT5 anomaly, 400 metres by 200 metres >80ppb gold core;
- GT6 anomaly, 400 metres by 300 metres >80ppb gold core; and
- GT8 anomaly, 300 metres by 150 metres >40ppb gold core.

A 4000 metre reverse circulation drilling program has now commenced over these targets.

Pinnacles joint venture

Nexus has entered into a farm-in and joint venture over Pinnacles with Saracen Gold Mines Pty Ltd, a subsidiary of Saracen Mineral Holdings.

The agreement provides Nexus with the opportunity to utilise mine and mill infrastructure, as a pathway to gold production.

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Wed, 13 Sep 2017 08:43:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183865/nexus-minerals-shares-bound-higher-while-valuation-intrigue-remains-183865.html
<![CDATA[News - Nexus Minerals delivers free kick in the Kalgoorlie Goldfields ]]> https://www.proactiveinvestors.com.au/companies/news/181089/nexus-minerals-delivers-free-kick-in-the-kalgoorlie-goldfields-181089.html Nexus Minerals Ltd (ASX:NXM,FWB:YAK) is a cashed up Western Australian gold explorer, with $5.8 million in the bank at the end of June 2017.

Considering the company's market cap of circa $6 million, this delivers an enterprise value in the region of $200,000.

Valuation conundrum

Investors are currently placing very little value of the company's assets, which include the Pinnacles JV Gold Project with the billion-dollar valued Saracen Gold Mines (ASX:SAR).

The importance of the joint venture is that it provides Nexus with a potential pathway to production by utilising existing mine and mill infrastructure.

Adding interest, the tenement package is largely unexplored and commences less than 5 kilometres south - and along strike - from Saracen's >4 million ounce Carosue Dam mining operations.

Other Nexus assets include the Pinnacles Regional Gold Project, Mt Celia Gold Project and the Triumph Gold Project.

Additional assets explained

The combined Pinnacles Gold Project area covers 100 square kilometres of highly deformed Archaean greenstone sequence of basalts, dolerites, and co-magmatic high-level intrusions.

This mafic volcanic association is overlain by a series of medium to coarse grained volcaniclastic sandstones and subordinate felsic volcanic rocks.

The Triumph Gold Project is located 145 kilometres north-east of Kalgoorlie and comprises both wholly-owned tenements covering 46 square kilometres, and a farm-in / joint venture for another 24 square kilometres.

The Mt Celia Gold Project lies 180 kilometres north-east of Kalgoorlie within the southern part of the Laverton Tectonic Zone.

This structure hosts numerous major gold mines and currently contains resources of circa 20 million ounces.

Upcoming work programs

Nexus has a busy end to 2017, and the company also remains actively looking for new joint venture activities.

At Pinnacles, the company is undertaking auger infill and a ground magnetic survey, to be followed by reverse circulation drilling.

Over at Mt Celia, soon geological and structural mapping will commence, to be followed by an auger survey.

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Wed, 19 Jul 2017 09:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/181089/nexus-minerals-delivers-free-kick-in-the-kalgoorlie-goldfields-181089.html
<![CDATA[News - Nexus Minerals reveals gold targets with auger results ]]> https://www.proactiveinvestors.com.au/companies/news/179492/nexus-minerals-reveals-gold-targets-with-auger-results-179492.html Nexus Minerals (ASX:NXM) has received results from its phase two auger soil geochemical sampling program over its Pinnacles Gold Project in the Eastern Goldfields of Western Australia.

The completion of the phase two auger survey means that circa 50% of the prospective Pinnacles regional 100 square kilometre tenement area has now been surveyed.

Auger soil results to date have now defined 16 gold anomalies.

These include one high priority target, two medium priority targets and 13 areas of interest.

A final auger soil program will be undertaken to further define the core of the anomalies and allow drill targets to be defined.


Survey details

This phase 2 program involved the collection of 836 shallow auger samples across the south eastern 25% of the tenement area.

408 samples were collected as infill samples to GT5 anomaly originally identified from phase one sampling.

Outcomes from phase two include:

- GT5 (high priority) infill sampling of phase 1 anomaly defines robust gold + bismuth-copper-molybdenum-tellurium anomaly 1.9x0.3 kilometres;
- GT6 (high priority) gold + arsenic anomaly 2.0x0.6 kilometres identified in phase 2 program; and
- GT7 (medium priority) upgraded from “broad anomalous zone” identified in phase 1 following encouraging ground investigation.

Ground geological surveys and structural mapping has also been completed over the auger soils coverage area.


Background

Nexus owns a portfolio of four gold projects all located in the Eastern Goldfields of Western Australia.

The company is focusing its attention on regional exploration programs over this prospective Pinnacles regional tenement package.

The Pinnacles regional project refers to the circa 100 square kilometres that surrounds the Pinnacles JV project, which sits on a granted 8 square kilometre mining lease.

The regional project is largely unexplored and commences less than 5 kilometres along strike from Saracen Mineral Holdings (ASX:SAR) 4+ million ounce Carosue Dam mining operations and the operating Karrari underground gold mine.

Saracen used similar style gravity surveys to help identify Carouse Dam, a major gold deposit.


Next steps

The exploration plans at the identified targets include:

- GT5: A final auger soil program will be undertaken to reduce the sampling density to 50x40 metres to further define the core of the anomaly and allow drill targets to be defined;
- GT6: This anomaly will now be subject to infill auger sampling to 100x40 metres to define the core of the anomaly and allow drill targets to be defined;
- GT7: This anomaly will now be subject to infill auger sampling to 200x80 metres to better define the core and extent of the anomaly, thus allowing drill targets to be defined; and
- 13 other anomalies: These areas require ground geological truthing and infill auger soil lines to better define these anomalies.

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Tue, 20 Jun 2017 10:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/179492/nexus-minerals-reveals-gold-targets-with-auger-results-179492.html
<![CDATA[News - Nexus Minerals gets on-market support from chairman ]]> https://www.proactiveinvestors.com.au/companies/news/176341/nexus-minerals-gets-on-market-support-from-chairman-176341.html Nexus Minerals (ASX:NXM) has had its board’s chairman, Paul Boyatzis, purchase a total of 400,000 shares on market.

The shares were purchased for consideration of $32,000 and increase Boyatzis’s combined share holdings to 9.08 million shares.

Nexus most recently completed its phase one regional auger soils exploration program at the Pinnacles Gold Project in the Eastern Goldfields of Western Australia.

Exploration comprised an auger soil geochemical sampling program, the regional gravity survey and ground geological activities over the prospective Pinnacles regional 100 square kilometre tenement area.

Multiple auger soil geochemical anomalies were identified with the maximum result grading 1,552 ppb gold.

Infill auger soil lines will be undertaken to better constrain the GT5 anomaly boundaries prior to planning drill activities.

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Wed, 12 Apr 2017 11:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/176341/nexus-minerals-gets-on-market-support-from-chairman-176341.html
<![CDATA[News - Nexus Minerals substantial shareholder increases stake ]]> https://www.proactiveinvestors.com.au/companies/news/175962/nexus-minerals-substantial-shareholder-increases-stake-175962.html Nexus Minerals (ASX:NXM) has received a change of substantial interests from Graeme Kirke, advising of an increased stake to 10.5% from 9.43%.

The change was from on-market purchases.

Nexus owns a portfolio of four gold projects all located in the Eastern Goldfields of Western Australia.

The company is focusing its attention on regional exploration programs over this prospective Pinnacles regional tenement package.

The Pinnacles regional project refers to the circa 100 square kilometres that surrounds the Pinnacles JV project, which sits on a granted 8 square kilometre mining lease.

The regional project is largely unexplored and commences less than 5 kilometres along strike from Saracen Mineral Holdings (ASX:SAR) 4+ million ounce Carosue Dam mining operations and the operating Karrari underground gold mine.

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Wed, 05 Apr 2017 10:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/175962/nexus-minerals-substantial-shareholder-increases-stake-175962.html
<![CDATA[News - Nexus Minerals uncovers gold anomalies in Eastern Goldfields ]]> https://www.proactiveinvestors.com.au/companies/news/175639/nexus-minerals-uncovers-gold-anomalies-in-eastern-goldfields-175639.html Nexus Minerals (ASX:NXM) has completed its phase one regional auger soils exploration program at the Pinnacles Gold Project in the Eastern Goldfields of Western Australia.

Exploration comprised an auger soil geochemical sampling program, the regional gravity survey and ground geological activities over the prospective Pinnacles regional 100 square kilometre tenement area.
988 auger samples were collected across the northern 25% of the tenement area.

Multiple auger soil geochemical anomalies were identified with the maximum result grading 1,552 ppb gold.

Other highlights included a 2.4x0.3 kilometre gold anomaly known at GT5 and a broad anomalous 1.5x2.5 kilometre gold zone.


Background

Nexus owns a portfolio of four gold projects all located in the Eastern Goldfields of Western Australia.

The company is focusing its attention on regional exploration programs over this prospective Pinnacles regional tenement package.

The Pinnacles regional project refers to the circa 100 square kilometres that surrounds the Pinnacles JV project, which sits on a granted 8 square kilometre mining lease.

The regional project is largely unexplored and commences less than 5 kilometres along strike from Saracen Mineral Holdings (ASX:SAR) 4+ million ounce Carosue Dam mining operations and the operating Karrari underground gold mine.

Saracen used similar style gravity surveys to help identify Carouse Dam, a major gold deposit.


GT5 target details

GT5 is a high order 2.4x0.3 kilometre gold anomaly showing good strike continuity across six of the 400 metre spaced survey lines within a sheared ultramafic unit.

This area is located in a gravity low and had been highlighted previously as a zone of interest from Nexus regional aeromagnetic assessment and interpretation.

Infill auger soil lines at 100x80 metres will be undertaken to better constrain the anomaly boundaries prior to planning drill activities.

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Thu, 30 Mar 2017 09:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/175639/nexus-minerals-uncovers-gold-anomalies-in-eastern-goldfields-175639.html
<![CDATA[News - Nexus Minerals with a renewed focus in the Eastern Goldfields ]]> https://www.proactiveinvestors.com.au/companies/news/173647/nexus-minerals-with-a-renewed-focus-in-the-eastern-goldfields-173647.html Nexus Minerals (ASX:NXM) has commenced exploration including geochemical sampling and gravity surveys at its Pinnacles regional project in the Eastern Goldfields of Western Australia.

The regional project is largely unexplored and commences less than 5 kilometres along strike from Saracen Mineral Holdings (ASX:SAR) 4+ million ounce Carosue Dam mining operations and the operating Karrari underground gold mine.

Saracen used similar style gravity surveys to help identify Carouse Dam, a major gold deposit.

The company intends to focus its attention on regional exploration programs over this prospective Pinnacles regional tenement package.

The Pinnacles regional project refers to the circa 100 square kilometres that surrounds the Pinnacles JV project, which sits on a granted 8 square kilometre mining lease.


Exploration program details

Exploration programs at the Pinnacles regional project include:

- Auger and soil geochemical sampling programs;
- Ground geological / structural mapping;
- Gravity survey over northern part of tenement package completed in late 2016;
- Gravity survey over southern part of tenement package commenced February 2017;
- Regional aeromagnetic targets follow up; and
- New regional emissivity mapping target method commenced.


Analysis

Nexus entered 2017 with $5.98 million in cash and equivalents meaning the company is well funded to conduct the current exploration programs at the Pinnacles regional project.

Nexus owns a portfolio of four gold projects all located in the Eastern Goldfields of Western Australia, providing multiple sources of exploration based news flow.

The Pinnacles regional tenement package is largely unexplored and is considered prospective geological terrain within a major regional structural corridor.

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Fri, 24 Feb 2017 08:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/173647/nexus-minerals-with-a-renewed-focus-in-the-eastern-goldfields-173647.html
<![CDATA[News - Nexus Minerals drill high-grade gold at Pinnacles ]]> https://www.proactiveinvestors.com.au/companies/news/172730/nexus-minerals-drill-high-grade-gold-at-pinnacles-172730.html Nexus Minerals (ASX:NXM) now has all the assays in from the 2425 metre drilling program over the Pinnacles East Resource area, located near Kalgoorlie in Western Australia.

Highlights include: 6 metres at 11.46g/t gold, 7 metres at 4.64g/t gold, 25 metres at 2.33g/t gold and 17 metres at 2.25g/t gold.

The principal purpose of the drill program was to provide the necessary geotechnical information required to input into the mine potential study currently underway.

Many of the high-grade intercepts confirmed the widths and grades of previous drilling.


Pinnacles East potential

Nexus recently commenced mine studies at Pinnacles East following the engagement of consultants to undertake a resource update.

The consultants will also to assist the company in determining the potential of establishing an initial open cut pit followed by an underground gold mining operation.

This is ongoing.


Well-funded

Nexus held close to $6 million in cash at the end of December 2016, and with a market cap of circa $10 million, the enterprise value is $4 million.

The company remains focused on the Pinnacles joint venture and farm-in agreement with mid-tier gold producer Saracen Gold Mines (ASX:SAR).

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Tue, 07 Feb 2017 09:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/172730/nexus-minerals-drill-high-grade-gold-at-pinnacles-172730.html
<![CDATA[News - Nexus Minerals advancing towards resource update ]]> https://www.proactiveinvestors.com.au/companies/news/172452/nexus-minerals-advancing-towards-resource-update-172452.html Nexus Minerals (ASX:NXM) mineral resource update and mine studies continued into the December quarter within the Pinnacles JV Project located in the Eastern Goldfields of Western Australia.

Nexus owns a portfolio of four gold projects all located in the Eastern Goldfields of Western Australia.

Its flagship project is the Pinnacles JV, located on an 8 square kilometre granted mining lease

The mining lease is surrounded by the Pinnacles regional project, covering 94 square kilometres.

Mine studies at Pinnacles East within the Pinnacles JV commenced during the September quarter following the engagement of consultants to undertake a mineral resource update, and also to assist in determining the potential of establishing an initial open cut pit followed by an underground gold mining operation.


Joint venture details

Nexus entered into a farm-in and joint venture agreement over the Pinnacles JV Gold Project with Saracen in late 2015, which allows it to earn up to an 85% interest in the project.

Under the agreement, Saracen will buy any ore produced and process it at their 2.4 million tonnes per annum mill at Carosue Dam Mining Operations, just 13 kilometres to the north of the project.

Nexus has full access to Saracen infrastructure, haul roads and camp facilities.


March quarter work program

During the current March quarter, Nexus intends to undertake the following activities:

- Complete mine potential studies (Pinnacles JV Gold project);
- Complete final 30% coverage of gravity survey to complete coverage of total 100 square kilometres regional tenement package (Pinnacles regional gold project); and
- Commence auger geochemical orientation survey post assessment of gravity survey data and integration with structural and geological information (Pinnacles regional gold project).

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Tue, 31 Jan 2017 15:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/172452/nexus-minerals-advancing-towards-resource-update-172452.html
<![CDATA[News - Nexus Minerals Ltd receives assays from Pinnacles gold project ]]> https://www.proactiveinvestors.com.au/companies/news/167474/nexus-minerals-ltd-receives-assays-from-pinnacles-gold-project-167474.html Nexus Minerals Ltd (ASX:NXM) has received assays from a recently completed 6 hole, 825 metre reverse circulation drill program within the Pinnacles JV Project located in the Eastern Goldfields of Western Australia.

Two holes drilled into the GT1 geophysical anomaly intersected strong silicification and sulphide alteration.

The presence of intense silicification and alteration provide for the existence of a large scale regional gold system.

Four holes drilled into the GT2 soil geochemistry anomaly returned results up to 2 metres at 1.77 g/t gold.

Exploration will continue with a 100 square kilometre gravity survey covering the complete regional tenement package to commence in early November.

Results will be used for regional first pass auger drilling.


Background

Nexus owns a portfolio of four gold projects all located in the Eastern Goldfields of Western Australia.

Its flagship project is the Pinnacles JV, located on an 8 square kilometre granted mining lease

The mining lease is surrounded by the Pinnacles regional project, covering 94 square kilometres.

Nexus entered into a farm-in and joint venture agreement over the Pinnacles JV Gold Project with Saracen in late 2015, which allows it to earn up to an 85% interest in the project.

Under the agreement, Saracen will buy any ore produced and process it at their 2.4 million tonnes per annum mill at Carosue Dam Mining Operations, just 13 kilometres to the north of the project.

Nexus has full access to Saracen infrastructure, haul roads and camp facilities.


Drill result details

Two drill holes were designed to a depth of 200 metres to test the GT1 anomaly identified from a gradient array induced polarisation (GAIP) survey undertaken in June.

Both drill holes encountered strongly silicified stratigraphy, with quartz-carbonate veining, extensive hydrothermal brecciation and up to 10% sulphide content – explaining the GAIP survey anomaly.

Whilst no mineralised intersections were returned in this location, the presence of intense silicification and alteration provide for the existence of a large scale regional alteration system

Four drill holes were designed to a depth of 100 metres to test the GT2 anomaly

The GT2 anomaly was centred over the Pinnacles North 1.6x0.3 kilometre geochemical gold anomaly.

The mineralisation in these holes suggests potential for the discovery of a proximal primary gold bearing system.


Analysis

The positive anomalous gold results returned in the recent drill program provide encouragement for regional exploration success.

The Carosue Dam district exhibits a large scale mineralised hydrothermal gold system having produced multi-million ounces of gold to date, and still today contains over 4 million ounces of gold in regional resources. 

Nexus holds a significant land package of highly prospective geological terrain within a major regional structural corridor, and is actively exploring for gold deposits.

The Pinnacles gold project represents an opportunity to significantly grow the gold resource base and with it a near term production profile.

Nexus recently upgraded its JORC resource for Pinnacles East to 550,000 tonnes at 4.6 g/t gold for 82,000 ounces.

This represented a 193% increase in ounces and 120% increase in grade.

Further resource drilling, test work and studies will take place in the December quarter to assist in determining mine development options.

Nexus shares are trading up 120% year to date, currently priced at $0.15.

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Mon, 17 Oct 2016 14:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/167474/nexus-minerals-ltd-receives-assays-from-pinnacles-gold-project-167474.html
<![CDATA[News - Nexus Minerals' gold discovery cost under $10 an ounce ]]> https://www.proactiveinvestors.com.au/companies/news/167405/nexus-minerals-gold-discovery-cost-under-10-an-ounce-167405.html Nexus Minerals Ltd (ASX:NXM) is a well-funded resource company with a portfolio of projects in Western Australia, and has a strategy of investing in advanced gold exploration assets.

Nexus has now completed a resource upgrade on the Pinnacles East gold resource area, within the Pinnacles JV gold project, located in the Eastern Goldfields, 120 kilometres northeast of Kalgoorlie.

The JORC 2012 Resource is now: 550,000 tonnes at 4.6g/t gold for 82,000 ounces.

The ounces increased by 193%, and the grade by 120%, above the previous resource by partner Saracen Mineral Holdings Ltd (ASX:SAR).

Importantly, the Nexus discovery cost is under $10 an ounce.

Andy Tudor, managing director, commented: "I am very pleased with the significant increase to the mineral resource in terms of both tonnes and particularly grade.

"These results further enhance the strength of the Pinnacle’s project and its ability to produce a robust and viable gold mining operation."


Analysis

Due to the pre-existing ore sales agreement with Saracen, there is very low capital expenditure required to initiate mining, with any ore mined to be processed through Saracen’s Carosue Dam Operation.

Today's news shows that Nexus is moving quickly to complete 85% ownership of the project.

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Fri, 14 Oct 2016 10:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/167405/nexus-minerals-gold-discovery-cost-under-10-an-ounce-167405.html
<![CDATA[News - Nexus Minerals Ltd's gold assays define open cut potential at Pinnacles ]]> https://www.proactiveinvestors.com.au/companies/news/165422/nexus-minerals-ltds-gold-assays-define-open-cut-potential-at-pinnacles-70942.html Nexus Minerals Ltd (ASX:NXM) is a well-funded resource company with a portfolio of gold projects in Western Australia, and has a strategy of investing in advanced gold exploration assets.

The company has previously entered into a farm-in and joint venture agreement over the Pinnacles JV Gold Project mid-tier producer Saracen Mineral Holdings Ltd (ASX:SAR).


Latest drilling

Nexus has now received results from the diamond and reverse circulation drilling campaign at the Pinnacles East gold resource, which is part of the joint venture, and located 120 kilometres northeast of Kalgoorlie.

The results define the open cut potential of project, with JORC 2012 resource update work underway.

Drilling tested for depth and strike extensions to the south of, and beneath, high grade gold mineralisation identified at Pinnacles East to date.

The deeper holes under the Pinnacles East resource (which commences at surface) were targeted to intercept mineralisation at circa 350 metres vertical depth, 100 metres below previous mineralised intercepts.

These included: 8 metres at 7.7g/t gold, 7 metres at 5.9g/t gold, 3 metres at 9.8g/t gold and 4 metres at 7.6g/t gold.

The drill program intersected the structure hosting the mineralisation at the depths interpreted, with the geological package of volcaniclastic sandstones, shales and conglomerates also intersected.

The Pinnacles gold mineralisation is typically associated with an increase in quartz veining, chlorite alteration and increase in sulphide content.

Nexus said that whilst all of these geological factors were observed, the drill results returned only narrow and low grade intersections of mineralisation in the two holes (NMPDD1 & NMPDD2) 100 metres underneath previous significant intercepts.


Pinnacles East mining studies advancing

Nexus will continue to determine the feasibility of the open cut potential of the Pinnacles East gold resource area, being initially from surface to ~150 metres - with mineralisation between ~150 metres and ~250 metres to be considered as a potential underground operation.

Nexus consultants have been engaged to undertake a resource update and pit optimization study, to assist in determining the financial viability of establishing an initial open cut gold mining operation.

The current resource of 413,000 at 2.1g/t gold for 28,000 ounces is from surface to 130 metres below surface, and nearly 94% of this resource is in the Indicated category.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 09 Sep 2016 09:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165422/nexus-minerals-ltds-gold-assays-define-open-cut-potential-at-pinnacles-70942.html
<![CDATA[News - Nexus Minerals Ltd secures cash for Pinnacles gold project ]]> https://www.proactiveinvestors.com.au/companies/news/165421/nexus-minerals-ltd-secures-cash-for-pinnacles-gold-project-70567.html Nexus Minerals Ltd (ASX:NXM) has received commitments to raise $2.3 million through the issue of 11.9 million shares at $0.195 as part of a placement.

Funds will be used to accelerate exploration activities, including drilling on the company’s Pinnacles JV tenement and Pinnacles Regional tenements, located 130 kilometres northeast of Kalgoorlie, Western Australia.

The Pinnacles JV is with mid-tier gold producer Saracen Mineral Holdings Ltd (ASX:SAR).

This provides Nexus with an opportunity to significantly grow the gold resource base, and with it, a near term production profile.

Nexus is expecting assays in September from two recently completed drill programs within Pinnacles.


Background

Nexus owns a portfolio of four gold projects all located in the Eastern Goldfields of Western Australia.

It’s flagship project is the Pinnacles JV, located on an 8 square kilometre granted mining lease

The mining lease is surrounded by the Pinnacles regional project, covering 94 square kilometres.

Nexus entered into a farm-in and joint venture agreement over the Pinnacles JV Gold Project with Saracen in late 2015, which allows it to earn up to an 85% interest in the project.

Under the agreement, Saracen will buy any ore produced and process it at their 2.4 million tonnes per annum mill at Carosue Dam Mining Operations, just 13 kilometres to the north of the project.

Nexus has full access to Saracen infrastructure, haul roads and camp facilities.


Assays pending

Nexus recently completed a six hole, 2,244 metre Pinnacles gold resource extension drill program.

It is testing extensions to Pinnacles East within the Pinnacles JV which previously delivered 8 metres at 7.7 g/t gold; 7 metres at 5.9 g/t gold; and 3 metres at 9.8 g/t gold.

Initial results are expected early September 2016.

A regional six hole, 825 metre drill program was also recently completed testing two target areas.

Initial results are expected late September 2016.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Fri, 19 Aug 2016 12:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165421/nexus-minerals-ltd-secures-cash-for-pinnacles-gold-project-70567.html
<![CDATA[News - Nexus Minerals Ltd raising capital to advance Pinnacles gold project ]]> https://www.proactiveinvestors.com.au/companies/news/165419/nexus-minerals-ltd-raising-capital-to-advance-pinnacles-gold-project-70537.html Nexus Minerals Ltd (ASX:NXM) is undertaking a share placement to raise capital to fund the advancement of the Pinnacles gold project located 120 kilometres from Kalgoorlie.

This includes the resource drill out of the Pinnacles East resource area and associated mine development studies.

The funds will also allow for the acceleration of the company’s regional exploration program across the highly prospective 100 square kilometre Pinnacles tenement package.

Nexus is expecting assays in September from two recently completed drill programs within Pinnacles.

Within the Pinnacles project exists the Pinnacles JV with mid-tier gold producer Saracen Mineral Holdings Ltd (ASX:SAR).

The company has an opportunity to significantly grow the gold resource base and with it a near term production profile.


Assays pending

Nexus recently completed a six hole, 2,244 metre Pinnacles gold resource extension drill program.

It is testing extensions to Pinnacles East which previously delivered 8 metres at 7.7 g/t gold; 7 metres at 5.9 g/t gold; and 3 metres at 9.8 g/t gold.

Initial results are expected early September 2016.

A regional six hole, 825 metre drill program was also recently completed testing two target areas.

Initial results are expected late September 2016.


Pinnacles JV

Nexus entered into a farm-in and joint venture agreement over the Pinnacles JV Gold Project
with Saracen in late 2015.

Under the agreement, Saracen will buy any ore produced and process it at their 2.4 million tonnes per annum mill at Carosue Dam Mining Operations, just 13 kilometres to the north of the project.

Nexus has full access to Saracen infrastructure, haul roads and camp facilities.


Analysis

The Pinnacles gold project represents an opportunity to significantly grow the gold resource base and with it a near term production profile.

This capital raising exercise will provide Nexus with sufficient funding to take the Pinnacles JV project to a decision to mine.

Furthermore by securing funding it will de-risk the medium term production opportunity for Nexus.

Nexus is highly leveraged to exploration upside as it awaits assay results from two completed drilling programs at Pinnacles.

The stock price has been performing very well recently, up 150% over the past 3 months, currently trading at $0.205.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 18 Aug 2016 14:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165419/nexus-minerals-ltd-raising-capital-to-advance-pinnacles-gold-project-70537.html
<![CDATA[News - Nexus Minerals Ltd commences drilling at Pinnacles in the Eastern Goldfields ]]> https://www.proactiveinvestors.com.au/companies/news/139593/nexus-minerals-ltd-commences-drilling-at-pinnacles-in-the-eastern-goldfields-70002.html Nexus Minerals Ltd (ASX:NXM) has commenced a diamond and reverse circulation drilling program at the Pinnacles Joint Venture gold project.

The Pinnacles JV is with mid-tier gold producer Saracen Mineral Holdings Ltd (ASX:SAR), and is strategically located in the Eastern Goldfields of Western Australia, around 120 kilometres northeast of Kalgoorlie.

There is an opportunity to significantly grow the gold resource base and with it a near term production profile, as Nexus has sufficient cash to take the Pinnacles JV project to a “Decision to Mine”.

Saracen will buy any ore produced under the JV agreement and process it at their 2.4Mtpa mill at Carosue Dam Mining Operations, just 13 kilometres to the north of the project.

Nexus has full access to Saracen infrastructure, haul roads and camp facilities.


Drilling details

The diamond and reverse drilling program is underway, and will cover circa 3350 metres.

The program will be testing for extensions to the Pinnacles East gold resource as well as testing priority regional gold targets.

Previously Pinnacles East delivered: 8 metres at 7.7g/t gold; 7 metres at 5.9g/t gold; and 3 metres at 9.8g/t gold.

The Pinnacles East gold resource extension program will test for depth and strike extensions to the south of, and beneath, high grade gold mineralisation identified to date.


Analysis

The drilling program is anticipated to be completed late August, with results expected to be received from early September.

Nexus can earn up to an 85% interest in the Pinnacles JV with a staged drilling and project development spend.

Nexus had $5.6 million cash on hand (May 2016) and with the Pinnacles JV agreement with Saracen in place, the medium-term gold production opportunity is significantly de-risked.

 

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Mon, 25 Jul 2016 09:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/139593/nexus-minerals-ltd-commences-drilling-at-pinnacles-in-the-eastern-goldfields-70002.html
<![CDATA[News - Nexus Minerals Ltd unveils potential gold system ahead of Pinnacles drilling ]]> https://www.proactiveinvestors.com.au/companies/news/139592/nexus-minerals-ltd-unveils-potential-gold-system-ahead-of-pinnacles-drilling-69875.html Nexus Minerals Ltd (ASX:NXM) has completed a geophysical survey on its Pinnacles JV project in the eastern goldfields of Western Australia.

The survey data, alongside the recently completed aeromagnetic results, has identified a number of drill ready gold targets.

Data shows a 2.5 x 0.6 kilometre anomaly, within which lies a 1.5 x 0.2 kilometre anomaly exhibiting the signature of a major intrusive related alteration system, often associated with gold mineralisation.

Drill planning is now at an advanced stage for the further testing of the Pinnacles East resource area as well as regional targets recently identified.

The Pinnacles JV project is a partnership with mid-tier gold producer, Saracen Mineral Holdings Ltd (ASX:SAR) whereby Nexus can earn up to an 85% interest with a staged drilling and project development spend.


Geophysical survey details

The Gradient Array Induced Polarisation (GAIP) method is a geophysical method used in gold
exploration and provides two forms of results, being resistivity and chargeability.

The GAIP survey highlights the Pinnacles Corridor and Pinnacles North anomalies – GT1, GT2, GT3 and GT4.

These anomalies represent drill ready gold targets and planning is underway to allow priority drill testing.

Recent managing director appointment

Nexus recently appointed the experienced Andy Tudor as managing director.

Tudor has been CEO since July 2014, and has worked successfully in that time to assess a large number of prospective projects resulting in joint venture arrangements over the Pinnacles JV, Pinnacles Regional and Triumph projects.


The Pinnacles opportunity

There is an opportunity to significantly grow the gold resource base and with it a near term production profile.

Nexus has sufficient cash to take the Pinnacles JV project to a “Decision to Mine”.

With $5.6 million cash on hand (May 2016) and a Pinnacles JV agreement with Saracen in place, the road to medium term production opportunity is significantly de-risked.

As Saracen will buy any ore produced under the JV agreement and process it at their 2.4Mtpa mill at Carosue Dam Mining Operations, just 13 kilometres to the north of the Pinnacles JV project.

Nexus has full access to Saracen infrastructure, haul roads and camp facilities.


Exploration upside

When drilling for gold begins, Nexus will be leveraged to exploration upside.

Given the fact that Nexus has completed an extensive amount of pre-drilling exploration, it is giving itself the best chance to identify mineralisation with its upcoming drill program.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 18 Jul 2016 13:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/139592/nexus-minerals-ltd-unveils-potential-gold-system-ahead-of-pinnacles-drilling-69875.html
<![CDATA[News - Nexus Minerals Ltd appoints Andy Tudor as managing director ]]> https://www.proactiveinvestors.com.au/companies/news/139591/nexus-minerals-ltd-appoints-andy-tudor-as-managing-director--69642.html Nexus Minerals Ltd (ASX:NXM) has appointed the experienced Andy Tudor as managing director.

Tudor has been CEO since July 2014, and has worked successfully in that time to assess a large number of prospective projects resulting in joint venture arrangements over the Pinnacles JV, Pinnacles Regional and Triumph projects.

The Pinnacles JV project is a partnership with mid-tier gold producer, Saracen Mineral Holdings Ltd (ASX:SAR) whereby Nexus can earn up to an 85% interest with a staged drilling and project development spend.

Pinnacles is located north-east of Kalgoorlie.


The Pinnacles opportunity

There is an opportunity to significantly grow the gold resource base and with it a near term production profile.

Nexus has sufficient cash to take the Pinnacles JV project to a “Decision to Mine”.

With $5.6 million cash on hand (May 2016) and a Pinnacles JV agreement with Saracen in place, the road to medium term production opportunity is significantly de-risked.

As Saracen will buy any ore produced under the JV agreement and process it at their 2.4Mtpa mill at Carosue Dam Mining Operations, just 13 kilometres to the north of the Pinnacles JV project.

Nexus has full access to Saracen infrastructure, haul roads and camp facilities.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 06 Jul 2016 09:03:00 +1000 https://www.proactiveinvestors.com.au/companies/news/139591/nexus-minerals-ltd-appoints-andy-tudor-as-managing-director--69642.html
<![CDATA[News - Nexus Minerals Ltd finds more gold targets at Pinnacles ]]> https://www.proactiveinvestors.com.au/companies/news/139590/nexus-minerals-ltd-finds-more-gold-targets-at-pinnacles--69102.html Eastern Goldfields gold explorer, Nexus Minerals Ltd (ASX:NXM) and its consultants have identified multiple targets analogous to the Pinnacles East Gold Resource that was identified – the “Pinnacles Corridor."

The “Pinnacles Corridor” target area extends 2.5 kilometres to the north and 1.5 kilometres to the south of the Pinnacles East Resource area, located north-east of Kalgoorlie.

Southern Geoscience Consultants were engaged to undertake aeromagnetic data processing, imaging and interpretation of the Pinnacles JV tenement and the surrounding Pinnacles regional tenement package.

The Pinnacles JV project is a partnership with mid-tier gold producer, Saracen Mineral Holdings (ASX:SAR) whereby Nexus can earn up to an 85% interest with a staged drilling and project development spend.
 
The aeromagnetic work has yielded a coherent district and local geological framework.

There is a suggested association between magnetic features and areas of mineralisation, the known example to date being the Pinnacles East Resource area.

Areas of exploration interest are proposed based on multiple factors culminating in “weights of evidence” anomalies.

The potential broader regional association will see further ground work and ultimately the integration of future drill hole data.


Next steps

Nexus is continuing to build geological, structural and mineralisation information of the region with interpretation models being developed.

In addition to Nexus field mapping of the JV tenement, a ground IP geophysical survey is currently being undertaken.

The program is designed to cover the targets identified by the aeromagnetic work along the “Pinnacles Corridor”.

The survey will cover the Pinnacles East resource area, to provide the operator with a base response, with the survey then being extended to cover all of the “Pinnacles Corridor” and the Pinnacles North 1.6km x 300m gold/arsenic soil anomaly.

Following the integration of all geological/geophysical/structural/geochemical inputs, drill programs will be designed to test the prospective targets identified.


Analysis

The identification of Pinnacles targets add to the potential unfolding at Pinnacles.

There is an opportunity to significantly grow the gold resource base and with it a near term production profile.

Nexus has sufficient cash to take the Pinnacles JV project to a “Decision to Mine”.

With $5.6 million cash on hand (May 2016) and a Pinnacles JV agreement with Saracen in place, the road to medium term production opportunity is significantly de-risked.

As Saracen will buy any ore produced under the JV agreement and process it at their 2.4Mtpa mill at Carosue Dam Mining Operations, just 13 kilometres to the north of the Pinnacles JV project. Nexus has full access to Saracen infrastructure, haul roads and camp facilities.


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Wed, 08 Jun 2016 10:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/139590/nexus-minerals-ltd-finds-more-gold-targets-at-pinnacles--69102.html
<![CDATA[News - Nexus Minerals Ltd identifies large gold anomaly at Pinnacles ]]> https://www.proactiveinvestors.com.au/companies/news/139589/nexus-minerals-ltd-identifies-large-gold-anomaly-at-pinnacles-68406.html Nexus Minerals Ltd (ASX:NXM) has identified five soil geochemical gold anomalies on the Pinnacles JV gold project 100 kilometres north east of Kalgoorlie.

The largest of the five anomalies, Pinnacles North, measures 1.6 kilometres x 300 metres and covers the central portion of the tenement.

Nexus currently has a 25% equity stake in the joint venture with its partner, a 100% owned subsidiary of mid-tier gold producer, Saracen Mineral Holdings (ASX:SAR).

Previous exploration data has identified five coincident gold arsenic soil geochemical anomalies.

A total of 853 soil samples were collected in 1993, which identified the five targets.

Between 1994 to 1998, 36 rotary air blast holes were drilled on the Pinnacles North target identifying several mineralised intersections including 3 metres at 1.13 g/t gold.

Southern Geoscience Consultants have been engaged to undertake follow up aeromagnetic data processing, imaging and interpretation.

Nexus also plan to undertake a ground induced polarisation geophysical survey in the June quarter.


Pinnacles JV gold project

The Pinnacles JV gold project is a farm-in and joint venture with Saracen whereby Nexus can earn up to 85% by spending a minimum of $200,000 per year on drilling and development over 5 years.

Nexus has the ability to accelerate the earn-in by increasing expenditure.

A 1,164 metre, 4 hole reverse circulation drill program was recently completed on the project with assay results pending.

The project has an existing JORC resource of 28,000 ounces from surface to 130 metres depth allowing for an open cut starter pit leading into a underground high grade gold mine. The resource is open in all directions.

The Pinnacles JV provides Nexus with the opportunity for near-term gold production, as it has an ore sale and purchase agreement already in place with Saracen.

Saracen has a 2.4 million tonnes per annum mill at the Carosue Dam mining operations located 13 kilometres to the north of the Pinnacles JV project.

The joint venture gives Nexus full access to Saracen's infrastructure, haul roads and camp facilities.


Analysis

Nexus has resourcefully used publicly available historical exploration data to identify new exploration targets.

During the period of this historical exploration (1993-1998), the gold price was trading in the range of US$250-US$400.

Nexus shares are currently trading at $0.10, representing a circa 80% appreciation over the past 12 months.

At the end of the March quarter, the company held $5.6 million in cash and term deposits.

With a market capitalisation of circa $7 million, Nexus is 80% cash backed. Nexus remains leveraged to exploration success from the recently completed drill program, where assays are pending and the ongoing fieldwork.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 03 May 2016 10:35:00 +1000 https://www.proactiveinvestors.com.au/companies/news/139589/nexus-minerals-ltd-identifies-large-gold-anomaly-at-pinnacles-68406.html
<![CDATA[News - Nexus Minerals Ltd completes drilling at WA gold project ]]> https://www.proactiveinvestors.com.au/companies/news/139588/nexus-minerals-ltd-completes-drilling-at-wa-gold-project-68021.html Nexus Minerals Ltd (ASX:NXM) has completed its 1,164 metre, 4 hole reverse circulation drill program at the Pinnacles JV gold project ~100 kilometres north east of Kalgoorlie.

The drill holes intersected geology, alteration and structures similar to those observed in previous Nexus drilling and historic drill holes by previous operators.

Drill samples have been submitted for analysis with the results expected in late April 2016.


Pinnacles JV gold project

The Pinnacles JV gold project is a farm-in and joint venture between a subsidiary of Saracen Mineral Holdings Ltd (ASX:SAR).

Nexus can earn up to 85% by spending a minimum of $200,000 per year on drilling and development over 5 years.

Nexus has the ability to accelerate the earn-in by increasing expenditure.

The project has an existing JORC resource of 28,000 ounces from surface to 130 metres depth allowing for an open cut starter pit leading into a underground high grade gold mine. The resource is open in all directions.

The Pinnacles JV provides Nexus with the opportunity for near-term gold production, as it has an ore sale and purchase agreement already in place with Saracen.

Saracen has a 2.4 million tonnes per annum mill at the Carosue Dam mining operations located 13 kilometres to the north of the Pinnacles JV project.

Nexus will have full access to Saracen's infrastructure, haul roads and camp facilities.

This project is consistent with the company strategy of investing in advanced gold exploration prospects.


Analysis

Nexus shares are currently trading at their 12 month high appreciating 100% over that time to now trade at around $0.12.

The market capitalisation remains low at around $9 million considering the company held $5.8 million in cash at the end of 2015.

Nexus remains leveraged to exploration success from the current drilling program, and offers investors a near term production profile with sufficient cash to allow the company to develop the project.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 12 Apr 2016 14:15:00 +1000 https://www.proactiveinvestors.com.au/companies/news/139588/nexus-minerals-ltd-completes-drilling-at-wa-gold-project-68021.html
<![CDATA[News - Nexus Minerals Ltd, Saracen to reveal Pinnacles JV assays end of April ]]> https://www.proactiveinvestors.com.au/companies/news/139587/nexus-minerals-ltd-saracen-to-reveal-pinnacles-jv-assays-end-of-april-67789.html Nexus Minerals Ltd (ASX:NXM) now has a four hole, 1000 metre reverse drilling program underway at the Pinnacles JV Gold Project.

While Nexus may be just a junior explorer, its partner is mid-tier gold miner Saracen Gold Mines (ASX:SAR).

The drilling program is anticipated to be completed in early April, with results expected to be received by the end of April.

The Pinnacles JV provides Nexus with the opportunity for near-term gold production, as it has an Ore Sale & Purchase Agreement already in place with Saracen.

The current drilling program will follow-up on previous high-grade gold intersections, with the existing resource open in all directions.

Nexus Minerals is well-funded with $5.8 million in cash at the end of December 2015, and is also well placed to capitalise on opportunities as they emerge in the resource sector.


Drilling details

The program is to test for depth and strike extensions to the north of high grade mineralisation identified to date.

This will be both as a follow up to the widest and highest grade mineralisation intersected by Nexus in late 2015, and from previous drilling by Saracen.

Previous significant intercepts include: 6 metres at 4.4g/t gold; 13 metres at 4.6g/t gold; 2 metres at 10.7g/t gold; and 1 metre at 14.2g/t gold.


JV details

- Nexus earning up to 85% / SAR 15% JV Project Partner.
- Nexus minimum spend: Yr1-5 $200,000/yr to earn 85% interest (total A$1M).
- JV Expenditure dedicated to drilling & project development – no cash payments.
- Nexus can accelerate expenditure to “speed up” earn-in % time line.
- Project has existing JORC 2012 Resource of 28,000oz (from Surface to 130m).
- Underground High Grade Gold Mine Potential below Open Cut starter pit.
- Resource OPEN in ALL Directions - Opportunity to significantly expand resource.
- SAR to buy any Ore produced by way of Ore Sale & Purchase Agreement.
- SAR to process the Ore through their 2.4Mtpa Mill at Carosue Dam Mining Operations – 13km to the north of Pinnacles JV project.
- Nexus has full access to SAR Infrastructure, Haul Roads and Camp facilities.


Analysis

Investors have provided strong support for the Nexus strategy, with shares in the company last trading at $0.105, or around double where they were six-months ago.

Even with the share price rise, the valuation of the company is only circa $7 million, yet it held $5.8 million in cash at the end of 2015.

Taking into consideration of costs during the March quarter, the Enterprise Value sits at $2 to $3 million.

Nexus is therefore leveraged to exploration success from the current drilling program.

Add to this the opportunity for near-term gold production via an Ore Sale & Purchase Agreement already in place with Saracen.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 31 Mar 2016 09:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/139587/nexus-minerals-ltd-saracen-to-reveal-pinnacles-jv-assays-end-of-april-67789.html
<![CDATA[News - Nexus Minerals Ltd's Andy Tudor talks ore agreements and Saracen with investors ]]> https://www.proactiveinvestors.com.au/companies/news/139586/nexus-minerals-ltds-andy-tudor-talks-ore-agreements-and-saracen-with-investors-67444.html Nexus Minerals Ltd (ASX:NXM) managing director, Andy Tudor, joined the Proactive Investors Spotlight CEO Roadshow in Sydney and Melbourne this week.

Nexus is in a joint venture with mid-tier producer Saracen Mineral Holdings (ASX:SAR), at the Pinnacles project in the Eastern Goldfields of Western Australia.


ACCESS THE FULL PRESENTATION HERE


Recent standout intersections included: 6 metres at 13.1g/t gold, 8 metres at 7.7g/t gold and 11 metres at 5.6g/t gold.

These are below the existing resource.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Fri, 11 Mar 2016 15:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/139586/nexus-minerals-ltds-andy-tudor-talks-ore-agreements-and-saracen-with-investors-67444.html