viewNexus Minerals Ltd

Nexus Minerals' gold discovery cost under $10 an ounce

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

Nexus Minerals has portfolio of projects in Western Australia

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."


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.

Quick facts: Nexus Minerals Ltd

Price: 0.043 AUD

Market: ASX
Market Cap: $5.08 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Nexus Minerals Ltd named herein, including the promotion by the Company of Nexus Minerals Ltd in any Content on the Site, the Company receives...



Full interview: Nexus Minerals begins aircore drilling prospects within WA...

Nexus Minerals (ASX:NXM) managing director Andy Tudor updates Proactive Investors on the start of an aircore drilling program on the Crusader and Templar prospects within its Wallbrook Gold Project in WA. Ground-based exploration activities will also be continued, including geological mapping...

on 29/8/19

2 min read