Nexus Minerals Ltd

Nexus Minerals identifies gold drill targets at Wallbrook Project

Pre-drilling exploration has identified target areas at the Paint and Crusader prospects.

project location on map
Wallbrook is considered underexplored and highly prospective for gold

Nexus Minerals Ltd (ASX:NXM) has completed geological mapping of the Paint and Crusader prospects within its Wallbrook Gold Project in the Eastern Goldfields of Western Australia.

The mapping combining with other exploration data has allowed the company to identify high-priority drill targets.

A reverse circulation (RC) drill program is planned for late February 2019.

READ: Nexus Minerals outlines busy work program at Wallbrook

The Paint prospect is considered to be prospective for Karari-style mineralisation.

The prospect shows numerous similarities to the Karari deposit owned by Saracen Mineral Holdings Ltd (ASX:SAR).

Exploration at Paint to date, which includes multiple surveys, has resulted in the identification of a priority drill target area.

Crusader has open pit gold potential

The Crusader prospect is considered to be prospective for steeply dipping sheeted mineralisation associated with sub-vertical vein sets, amenable to open pit mining.

Nexus’ RC drill program will concentrate on mineralisation from surface to a vertical depth of around 100 metres.

Similar to paint, previous exploration has been used to identify a priority drill target area.

Recently acquired Templar prospect planned exploration

The recently acquired Templar prospect will be subject to ground exploration activities in the current March quarter.

Historical data review and database integration of the complete 250 square kilometre Wallbrook tenement package has commenced and will be ongoing in 2019.

Quick facts: Nexus Minerals Ltd

Price: $0.05

Market: ASX
Market Cap: $5.56 m

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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...

3 weeks, 5 days ago

2 min read