Proactive Investors - Run By Investors For Investors

Nexus Minerals drills out high-grade gold from Wallbrook in March quarter

The company also completed a $1,625,500 capital raising to allow accelerated drill testing of the Wallbrook Gold Project.
golden key
Nexus is planning a drill program at the Crusader prospect

Nexus Minerals Ltd (ASX:NXM) undertook a 6,960 metre reverse circulation (RC) drill program at the Wallbrook Gold Project in WA during the quarter ended March 31, 2019.

The Wallbrook project covers about 250 square kilometres of prospective geological terrain considered highly prospective for the discovery of significant gold mineralisation.

READ: Nexus Minerals hits high-grade gold up to 20.13 g/t at Wallbrook project

Nexus’ RC drill program completed at the Crusader and Paint prospects returned high-grade gold intersections including:

• Crusader: 27 metres at 3.18g/t gold from 61 metres;
• Crusader: 35 metres at 2.85g/t gold from 25 metres;
• Paint: 20 metres at 0.58g/t gold including 4 metres at 2.17g/t gold; and
• Paint: 16 metres at 0.89g/t gold including 8 metres at 1.70g/t gold.

June 2019 quarter work program

During the June 2019 quarter Nexus intends to undertake the following activities at the Wallbrook Gold Project:

• Analyse data received from recently completed RC drill program;
• Undertake 3D modelling of Crusader RC drill data;
• Drill program planning at Crusader prospect;
• Integrate and analyze gravity and high-resolution ground magnetic data from Templar prospect to generate drill targets along prospective mineralised corridor;
• Geological and structural mapping;
• Analysis of regional geochemistry; and
• Geophysical programs including high-resolution ground magnetics.

Well-funded for accelerated drilling

Nexus has also completed a $1,625,500 capital raising from a $1,254,000 private placement and a $371,500 share purchase plan.

The funds raised will allow accelerated drill testing of the company’s Wallbrook Gold Project.

View full NXM profile View Profile

Nexus Minerals Ltd Timeline

Related Articles

Workers underground at Prieska mine
April 17 2019
Orion has sorted an ownership milestone as it prepares a BFS and awaits a mining right.
Lithium brine evaporation ponds at Rincon project
April 09 2019
The company’s lithium hydroxide exceeded battery-grade standard in lab tests and may provide a complementary production strategy.
1542997473_serbian-landscape.jpg
November 24 2018
Freeport can earn into the two licences, which are within the southern portion of the Timok Magmatic complex

© 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