Nexus Minerals Ltd (ASX:NXM) (FRA:YAK) has hit gold grades of up to 1-metre at 42.59 g/t during deeper drilling beneath the existing Crusader resource at Wallbrook Gold Project in the Eastern Goldfields of Western Australia.
The 1-metre intercept was within 9 metres at 6.68 g/t which was part of a 22-metre intersection from 96 metres that averaged 2.97 g/t while another strong result was 8 metres at 5.27 g/t including 1-metre at 28.6 g/t within 17 metres at 2.57 g/t from 46 metres.
All 11 holes, which were drilled for 1,978 metres, intersected mineralisation with the high-grade core now continuously extending to depths greater than 150 metres and this remains open over 700 metres strike.
Shares have been as much as 22.5% higher this morning to 16.5 cents.
New mineralised corridor
Managing director Andy Tudor said: “These follow-up results from Crusader have intersected broad and high-grade gold intercepts showing continuity of mineralisation over greater than 700-metre strike which remains open in all directions, and importantly at depth.
“The CrusaderTemplar mineralised system now extends over some 1600 metres of strike, which is rapidly growing into an exciting new mineralised corridor with potential to establish a significant mineral resource.
“Further RC and diamond drilling will be planned to follow up on the results received in this program”.
Other notable results include:
- 6 metres at 3.48 g/t, including 2 metres at 6.82 g/t within 14 metres at 1.62 g/t from 138 metres;
- 6 metres at 6.74 g/t, including 2 metres at 16.41 g/t gold within 12 metres 3.61 g/t from 138 metres;
- 5 metres at 5.01 g/t, including 1-metre at 15.43 g/t within 11 metres at 3.44 g/t from 141 metres;
- 4 metres at 7.17 g/t, including 1-metre at 14.8 g/t within 15 metres at 2.11 g/t from 135 metres; and
- 8 metres at 2.97 g/t, including 1-metre at 8.81 g/t within 15 metres at 1.99 g/t from 138 metres.
Future drill programs at Crusader will test for depth extensions to the mineralisation which has been drilled to a maximum of 200 metres depth, as well as testing for further strike extensions to the Crusader-Templar mineralised corridor that currently extends over 1.6 kilometres of strike and is constrained only by the extent of drilling completed by Nexus to date.