Sign up Australia
Proactive Investors - Run By Investors For Investors

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

The results confirm the presence of high-grade mineralised zones within broader low-grade mineralised halo.
drill rig
Mineralisation is analogous to Saracen Mineral's operating Karari mine

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.

View full NXM profile View Profile

Nexus Minerals Ltd Timeline

Related Articles

map of project area
March 26 2018
The prospect of an IOCG deposit, similar to Olympic Dam, has ignited interest in the stock.
1510744989_Tin-ingots.jpg
July 13 2018
AfriTin listed on AIM with plans to position itself as the African tin champion

© 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