Nexus Minerals Ltd (ASX:NXM) is keeping busy with further work targeted at its Wallbrook Gold Project in Western Australia and Bethanga Copper-Gold project in northeast Victoria in the September quarter.
In the current quarter, the company plans to continue its diamond drilling of around 2,000 metres and reverse drilling (RC) drilling of around 12,000 metres programs at the Crusader/Templar and Paint Prospects – all at the Wallbrook Project.
It will also continue with the regional ground magnetic survey.
At Bethanga, it plans to undertake fertility assessment, including soil sampling, geological mapping and lithogeochemical sampling.
The company also plans to hold meetings with local landholders.
June quarter achievements
In the June quarter, the company completed two diamond drill holes at the Crusader Gold Prospect within the broader Wallbrook Project, which confirmed down-dip extensions.
It also completed the first phase of the Crusader Gold RC drill program.
In the quarter, the company also executed an option to purchase the Bethanga Copper-Gold Project which covers 194 square kilometres across two granted exploration licenses in Australia’s premier porphyry copper-gold geological terrain.
Crusader Gold Prospect
A 1,045 metres two-hole diamond drilling program was completed during the quarter at the Crusader Gold Prospect to test beneath the broad high-grade mineralized zone intersected in the company’s 2020 RC drill program.
Gold mineralisation at the Crusader Prospect is closely associated with a quartz-goethite supergene stockwork in the oxide regolith profile.
The stockwork intensity correlates closely with higher gold grades.
In the fresh rock, high-grade mineralisation occurs within a series of steeply dipping structures defined by quartz sulphide veining within a potassic altered volcaniclastic host rock.
The current drill programs underway at Crusader are testing for depth and strike extensions to the mineralisation, which has been drilled to a maximum 200 metres depth (remains open at depth), constrained only by the extent of drilling completed by Nexus to date.
Fertility study at Bethanga Project
The company has started the porphyry copper-gold fertility assessment study.
In April, the company entered into an option to buy Jamieson Minerals Pty Ltd, which owns the Bethanga Project tenements.
The project is in the same geological host as the world-class Cadia-Ridgeway and Northparkes porphyry copper-gold projects further north in central NSW.
Nexus started a review of the Bethanga project in late 2019, however, this was placed on hold in 2020 due to the COVID pandemic.
The project area is recognised by the Geological Survey of Victoria as a region prospective for porphyry copper-gold and VHMS mineralisation.
Bethanga project is underlain by the Macquarie Arc/Yoeval Tract – a belt of volcanic and intrusive rocks part of the Cowra-Buchan Rift Complex-- which is host to the Tier-1 Cadia Valley, Northparkes and Cowra deposits.
It is defined by a belt of volcanic and intrusive igneous rocks and an endowment of more than 80 million ounces of gold and 13 million tonnes of copper.