logo-loader
Nexus Minerals Ltd

Nexus Minerals to estimate JORC resource for Crusader this quarter

The resource estimate due this June quarter will focus on the 600 metres of strike drilled to date but it remains open to the north and at depth.

Maps showing aerial of prospects and survey results
Surveys now being interpreted suggest Crusader and adjacent Templar could be linked

Nexus Minerals Ltd (ASX:NXM) will use its recent 40-hole drill program combined with historical drill data to estimate a JORC resource for the Crusader prospect within the Wallbrook Project, WA.

Drilling intersected high-grade gold grading up to 30.33 g/t within broad mineralised zones including 27 metres at 3.18 g/t gold from 61 metres and 35 metres at 2.85 g/t gold from 25 metres.

Planning for more drilling is already underway to infill and expand the Crusader resource area as well as test the possibility that the resource joins with the adjacent Templar prospect.

A gravity survey and high-resolution ground magnetic survey has been completed over the Crusader and Templar prospects with survey-interpretation now underway.

READ: Nexus Minerals managing director buys company shares

Nexus’ managing director Andy Tudor said: “The first drill program at Crusader intersected significant mineralisation along the initial 600-metre strike length tested.

“Importantly result interpretation has shown a coherent nature to the mineralisation, with good continuity section to section spaced 20m apart.

“This has led to the decision to undertake a mineral resource estimate covering this area.

Crusader and Templar could be the one mineralised system

“In addition, Nexus’ drilling to date has only tested 600 metres of the 5-kilometre strike extent of the mineralised corridor and only down to 100 metres depth.

“The results from the high-resolution gravity and ground magnetics surveys covering the Crusader and the Templar prospects appear promising and clearly highlight the mineralised corridor.

“Interpretation currently underway will assist us in focussing targets for the next drill program.”

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

The map below shows the 2019 reverse circulation (RC) drill hole locations and results in the area where the resource is being estimated.

Quick facts: Nexus Minerals Ltd

Price: $0.05

Market: ASX
Market Cap: $5.68 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Nexus Minerals Ltd named herein, including the promotion by the Company of Nexus Minerals Ltd in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

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...

2 weeks, 3 days ago

2 min read