viewNexus Minerals Ltd

Nexus Minerals examines potential for open-pit gold starter project at Wallbrook

The company is investing in new exploration techniques to refine the targeting approach for current and future tenements, including the use of spectral data.

Nexus Minerals Ltd - Nexus Minerals completes Wallbrook drilling program ahead of potential open-pit development
Nexus Minerals is a well-funded resource company with a portfolio of gold projects in Western Australia

Nexus Minerals Ltd (ASX:NXM) has completed interpretations from a 91-hole drilling program on two high-priority drill targets within the Crusader and Templar prospects at Wallbrook Gold Project in WA's Eastern Goldfields.

The 4,375-metre aircore program intersected high-grade gold up to 8.37 g/t from 3 metres, including 1-metre at 24.43 g/t, during the December quarter.

Other strong results were 18 metres at 1.40 g/t, including 4 metres at 6.46 g/t, and 26 metres at 1.02 g/t, including 4 metres at 5.03 g/t.

Nexus is also continuing mine studies at the Crusader mineral resource area, which contains 85,000 ounces of gold, with the aim of determining the potential for a stage-I starter pit and subsequent staged open-cut pit development options.

Ground-based exploration continues

In addition, ground-based exploration activities, including geological mapping and sampling, continue across the larger Wallbrook Gold Project tenement package, which covers 250 square kilometres.

During the current quarter Nexus intends to:

  • Continue to analyse and model Crusader drill data;
  • Complete mine studies at the Crusader mineral resource area;
  • Continue regional high-resolution ground magnetics survey through The Gap prospect;
  • Commence mine studies at the Pinnacles mineral resource area;
  • Geological and structural mapping; and
  • R&D sampling.

Research and development project

The company is also undertaking a research and development project aiming to develop new knowledge on the application of spectral data in the mineral exploration industry.

This involves the experimentation of new exploration and geo-sensing techniques utilising spectral data.

The project, which started in July 2017, is over a four-year timeline at Nexus’ Wallbrook and Pinnacles gold projects where relevant geological and mineralogical characteristics are known.

Drill chip trays from the 2019 reverse circulation program at Wallbrook, and those from the recently completed aircore program at Templar, will be analysed in the March 2020 quarter, using a TerraSpec SWIR unit attached to spectra acquisition software.

Quick facts: Nexus Minerals Ltd

Price: 0.077 AUD

Market: ASX
Market Cap: $14.89 m

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