Proactive Investors - Run By Investors For Investors

Nexus Minerals outlines busy work program at Wallbrook

Wallbrook's March quarter work program involves mapping, surveys and drill testing.
australian bank notes
At the end of the December quarter, the company had $3.18 million cash and equivalents

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.

View full NXM profile View Profile

Nexus Minerals Ltd Timeline

Related Articles

Sconi project map showing proximity to Townsville port
If offtaker SK Innovation exercises an option it could bring in $80 million to the company this quarter.
Vanadium periodic table on yellow cube
November 15 2018
Shares of the miner have more than doubled since April, not on recent results but on future prospects in uranium and vanadium
mining camp
November 14 2018
Last month, Excelsior revealed a huge boost to the project, a US$75 million project financing package

© Proactive Investors 2019

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