The company holds ground in the Eastern Goldfields picked up from Saracen and Newmont.
Nexus Minerals Ltd
Nexus Minerals Ltd (ASX:NXM) is a diversified resources company with a portfolio of projects in Western Australia.
| EPIC: | NXM |
| Market: | ASX:NXM |
| 52-week High/Low: | A$0.087 / A$0.042 |
| Sector: | Mining |
| Market Cap: | $5.56 m |
| Website: | www.nexus-minerals.com |
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Big Picture – A Deep Dive Examination of Nexus Minerals Ltd
Nexus Minerals Ltd Timeline
The resource estimate due this June quarter will focus on the 600 metres of strike drilled to date but it remains open to the north and at depth.
The company is focused on exploration at its Wallbrook Gold Project.
The company also completed a $1,625,500 capital raising to allow accelerated drill testing of the Wallbrook Gold Project.
Nexus is investing in exploration techniques to refine the targeting approach for current and future tenements, including the use of spectral data.
Further assays from the final half of the Paint prospect drill program are expected in the coming weeks.
Assays for 13 of the 35 holes drilled at the Crusader prospect show gold in every hole.
The funds will be used for exploration including a reverse circulation drilling program.
Opportunity for eligible shareholders to purchase up to $15,000 of Nexus shares without incurring brokerage or transaction costs.
The company has $1.25 million of commitments for its proposed $2 million of capital raisings.
Proceeds from the placement and subsequent SPP will allow the company to accelerate work programs, including a high impact RC drilling program.
The halt will remain in place until the start of normal trading on Wednesday or when an announcement is released.
The company holds ground in the Eastern Goldfields picked up from Saracen and Newmont.
Pre-drilling exploration has identified target areas at the Paint and Crusader prospects.
Wallbrook's March quarter work program involves mapping, surveys and drill testing.
The three new tenements mean the project now covers 250 square kilometres highly prospective for gold.
Last month, the company confirmed high-grade gold drilling results from the Wallbrook Gold Project.
The project now has 250 square kilometres of prospective geological units known to host significant gold mineralisation.
The results confirm the presence of high-grade mineralised zones within broader low-grade mineralised halo.
Wallbrook has four main prospects - Crusader, Jedi, Paint and Eastward Reefs.
Seats are filling fast for the next luncheon series in Sydney and Melbourne.
