Proactive Investors - Run By Investors For Investors

Nexus Minerals drill high-grade gold at Pinnacles

Many of the high-grade intercepts confirmed the widths and grades of previous drilling.
Nexus Minerals drill high-grade gold at Pinnacles
Highlights include: 6 metres at 11.46g/t gold

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).

View full NXM profile View Profile

Nexus Minerals Ltd Timeline

Related Articles

Archer hopes to disrupt current technology for quantum computing
September 21 2018
Archer collaborated with the University of New South Wales to show Campoona graphite can be used in a commercially scalable lithium-ion battery.
Gold nugget
November 22 2018
Such is the size of the two nuggets, they are now touring the world’s museums as curios
mine
August 01 2018
Tungsten prices are on the rise and construction is proceeding apace at Barruecopardo

© Proactive Investors 2018

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

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