The company has started a porphyry copper-gold fertility assessment study with multiple sites of malachite (copper oxide material) and gossan being observed at sites mapped to date.
Nexus is undertaking soil sampling along with a program of geological mapping and litho-geochemical sampling with both 30% complete.
Managing director Andy Tudor said: “It’s been a very positive start with what is being observed during the early stages of the ground-based soil sampling program, and the associated geological mapping and sampling program.”
Premier porphyry copper-gold terrain
Nexus recently executed an option to purchase the Bethanga Porphyry Copper-Gold Project, further expanding its existing project portfolio.
The landholding covers 194 square kilometres across two granted exploration licences in Australia’s premier porphyry copper-gold geological terrain, the Lachlan Fold Belt.
In addition, Nexus is also actively exploring gold deposits on its highly prospective tenement package in the Eastern Goldfields of Western Australia.
Malachite on exposed Gossan outcrop at Bethanga.
Indicative of magmatic-hydrothermal system
Nexus’ fertility assessment works program aims to identify pathfinder elements indicative of a magmatic-hydrothermal system at depth with a prospect wide soil sampling program underway.
In addition, geological mapping and litho-geochemical sampling are in progress with specific alteration and geochemical characteristics being sought to indicate porphyry copper-gold prospectivity.
Furthermore, reprocessing and 3D inversion of regional aeromagnetic data is ongoing with a detailed ground magnetics survey to follow.