Nexus Minerals Ltd (ASX:NXM) has received high-grade results of up to 1-metre at 57.1 g/t from the second 20 RC holes drilled at Templar prospect within the Wallbrook Gold Project in the Eastern Goldfields of Western Australia.
All assay results have now been received from the phase 1 drilling at Templar which has delineated a mineralised corridor extending over 700 metres of strike which remains open in all directions.
Shares have been more than 24% higher in early trade to 18 cents, a new high of more than four years.
New intersections include:
- 12 metres at 5.04 g/t gold from 39 metres including 1-metre at 57.10 g/t;
- 5 metres at 5.88 g/t from 58 metres including 3 metres at 9.28 g/t;
- 26 metres at 1.67 g/t from 100 metres to end of hole (EOH) including 6 metres at 3.50 g/t at EOH;
- 24 metres at 1.42 g/t from 60 metres including 1-metre at 11.53 g/t within 6 metres at 4.22 g/t; and
- 37 metres at 1.03 g/t from 60 metres including 7 metres at 2.09 g/t and 6 metres at 2.08 g/t.
A total of 38 out of 40 RC holes drilled at Templar intersected mineralisation
“Potentially large system”
Nexus managing director Andy Tudor said: “These latest results from the Templar prospect have again intersected broad and high-grade gold intercepts and shown continuity of the mineralisation, which now extends over greater than 700 metres strike and remains open in all directions.
“These exciting results have outlined a potentially large and extensive mineralised system.
“Further extensional, depth and infill drilling will be planned to follow up on the results received in this program.”
Templar prospect RC drill results over geology.
Wallbrook drill program status
At the Templar prospect, the mineralised corridor extends more than 700 metres long x 80 metres wide and remains open in all directions.
A total of 3,854 metres (40 holes) of RC drilling has been completed with assay results for the 40 holes received and reported.
At the Branched prospect, a total of 2,739 metres (35 holes) RC drilling has been completed with assay results pending while at Golden Dyke prospect a total of 1,325 metres RC (13 holes) drilling has been completed and submitted for assay.
Nexus plans an RC program to test for deeper mineralisation at the Crusader prospect beneath the existing mineral resource after completing 1,978 metres in 11 RC holes with core submitted for assay.