Proactive Gold Webinar sees three companies present intentions to capitalise on strong gold market fundamentals
Three ASX-listed gold exploration companies highlighted upcoming plans during the online gold webinar yesterday.
Company
ASX:NXM
Nexus Minerals Ltd is a well-funded resource company with a portfolio of gold projects in Western Australia, gold-copper & critical minerals in New South Wales and porphyry copper-gold in Bethanga Victoria. The company is actively exploring for gold deposits on its highly prospective tenement package in the Eastern Goldfields of Western Australia.
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Three ASX-listed gold exploration companies highlighted upcoming plans during the online gold webinar yesterday.
Assays from a recently completed 35-hole reverse circulation program have outlined an extensive mineralised system centred on a mineralised porphyry unit.
The proceeds will be used to complete the feasibility study at Pinnacles Gold Joint Venture and to fund ongoing exploration at the Wallbrook Gold Project.
The company is in a trading halt which will remain in place until the start of trading on Thursday, November 19, or when an announcement is released to the market.
Three specific zones targeted in the RC drill program have confirmed high-grade mineralisation, prompting the company to accelerate its project timeline to complete a feasibility study in late 2020.
The first pass shallow drilling has confirmed broad and high-grade mineralisation extending over 700 metres and remaining open in all directions.
The RC drill program followed up on positive aircore drill results and geophysical targets, intersecting broad high-grade gold zones.
Nexus holds 125 square kilometres of highly prospective geological terrane within a major regional structural corridor and is exploring for gold deposits.
Nexus is actively exploring for gold deposits on its highly prospective 250 square kilometre tenement package in the Eastern Goldfields.
The date by which the option must be exercised to acquire 100% of the Edjudina Gold Project is set for the 14th of January 2021.
As part of the Pinnacles feasibility study, Nexus is determining the feasibility of the open cut potential of the Pinnacles East gold resource area, with deeper mineralisation to be considered as a potential underground operation.
The company’s Pinnacles JV Gold Project and Wallbrook Gold Project are both around 140 kilometres northeast of Kalgoorlie.
The company is exploring for gold deposits on its highly prospective tenement package in the Eastern Goldfields of Western Australia.
The junior miner has outlined its six-month program - with Pinnacles topping its list - after having completed a scoping study and embarking on a feasibility study.
The Pinnacles East scoping study confirmed the company’s belief in the prospectivity of the project.
The study results justify Nexus committing to the next stage of exploration and development by progressing to a feasibility study this year.
The company is undertaking mining studies at the Pinnacles JV gold project and using spectral data to analyse results from the Wallbrook project.
The Pinnacles East combined resource has been updated to 609,000 tonnes at 4 g/t gold for 78,000 ounces.
The company is investing in new exploration techniques to refine the targeting approach for current and future tenements, including the use of spectral data.
Drilling has intersected high-grade gold mineralisation in the Crusader-Templar corridor.
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Exploration has been focused on the Crusader, Paint and Templar prospects within the Wallbrook Gold Project.
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Drilling follows the release of an 85,000-ounce gold resource grading 1.22 g/t at Crusader in July 2019.
The company has about $4 million in cash for further drilling across its compelling targets.
Gravity and high-resolution ground magnetic surveys have been competed over Crusader and Templar prospects with interpretation providing compelling targets.
The resource estimate due this June quarter will focus on the 600 metres of strike drilled to date but it remains open to the north and at depth.
The company is focused on exploration at its Wallbrook Gold Project.
The company also completed a $1,625,500 capital raising to allow accelerated drill testing of the Wallbrook Gold Project.
Nexus is investing in exploration techniques to refine the targeting approach for current and future tenements, including the use of spectral data.
Further assays from the final half of the Paint prospect drill program are expected in the coming weeks.
Assays for 13 of the 35 holes drilled at the Crusader prospect show gold in every hole.
The funds will be used for exploration including a reverse circulation drilling program.
Opportunity for eligible shareholders to purchase up to $15,000 of Nexus shares without incurring brokerage or transaction costs.
The company has $1.25 million of commitments for its proposed $2 million of capital raisings.
Proceeds from the placement and subsequent SPP will allow the company to accelerate work programs, including a high impact RC drilling program.
The halt will remain in place until the start of normal trading on Wednesday or when an announcement is released.
The company holds ground in the Eastern Goldfields picked up from Saracen and Newmont.
Pre-drilling exploration has identified target areas at the Paint and Crusader prospects.
Wallbrook's March quarter work program involves mapping, surveys and drill testing.
The three new tenements mean the project now covers 250 square kilometres highly prospective for gold.
Last month, the company confirmed high-grade gold drilling results from the Wallbrook Gold Project.
The project now has 250 square kilometres of prospective geological units known to host significant gold mineralisation.
The results confirm the presence of high-grade mineralised zones within broader low-grade mineralised halo.
Wallbrook has four main prospects - Crusader, Jedi, Paint and Eastward Reefs.
Seats are filling fast for the next luncheon series in Sydney and Melbourne.
Nexus remains focused exploring for gold in the Eastern Goldfields.
Aircore drilling has returned an intersection of 12 metres at 3.27 g/t gold from 100 metres, including 4 metres at 6.37 g/t.
Nexus has only scratched the surface in seeking out a Karari-style deep plunging ore body.
The acquisition is consistent with Nexus' strategy of investing in advanced gold exploration assets.
A 6,000-metre, 75-hole aircore program is underway to test a large anomalous gold zone.
Drilling to date has tested only a fraction of the anomalous gold corridor.
The 58 square kilometre Wallbrook tenement package is near Kalgoorlie, Western Australia.
Accelerated exploration program planned for Wallbrook tenements.
The management team is seeking further gold joint venture opportunities.
Nexus holds over $5 million in cash at the end of September.
The drill program was designed to test previously identified gold anomalies.
Assays from the first 17 holes of a 48-hole drill program have been received.
Shares in Nexus are up over 20% intra-day, currently trading at $0.105
Nexus is an active gold explorer in a multi-million ounce gold region.
Nexus has an enterprise value of just a couple of hundred thousand dollars.
Phase two auger sampling has revealed 16 gold targets.
Phase one exploration recently identified multiple gold targets at Pinnacles.
Nexus is focused on gold exploration in the Eastern Goldfields.
Phase one exploration has identified multiple gold targets at Pinnacles.
Nexus Minerals intends to turn its exploration focus to the Pinnacles regional project.
Many of the high-grade intercepts confirmed the widths and grades of previous drilling.
Nexus aims to complete mine potential studies this quarter.
Nexus Minerals Ltd has received assays from the Pinnacles JV Project.
Today's news shows that Nexus is moving quickly to complete 85% ownership of the project.
Nexus has now received results from the diamond and reverse circulation drilling campaign at the Pinnacles East gold resource, which is part of the joint venture, and located 120 kilometres northeast of Kalgoorlie.
Funds will be used to accelerate exploration activities, including drilling on the company’s Pinnacles JV tenement and Pinnacles Regional tenements, located 130 kilometres northeast of Kalgoorlie, Western Australia.
Nexus is undertaking a share placement to raise capital to fund the advancement of the Pinnacles gold project located 120 kilometres from Kalgoorlie.
Nexus had $5.6 million cash on hand (May 2016) and with the Pinnacles JV agreement with Saracen in place, the medium-term gold production opportunity is significantly de-risked. Drilling results are expected in September.
The Pinnacles JV project is a partnership with mid-tier gold producer, Saracen Mineral Holdings Ltd whereby Nexus can earn up to an 85% interest with a staged drilling and project development spend.
Nexus has partnered with mid-tier gold producer Saracen Mineral Holdings at Pinnacles near Kalgoorlie. Pinnacles has the potential for near term gold production.
The aeromagnetic work has yielded a coherent district and local geological framework and generated multiple targets similar to the Pinnacles East resource, located north-east of Kalgoorlie.
Nexus has identified five soil geochemical gold anomalies on the Pinnacles JV gold project 100 kilometres north east of Kalgoorlie.
The company held $5.8 million in cash in February 2016, significant for a small cap company with a near term production opportunity in a venture with a major gold producer.
The Pinnacles JV provides Nexus with the opportunity for near-term gold production. The current drilling program will follow-up on previous high-grade gold intersections, with the existing resource open in all directions.
Nexus Minerals Ltd Sydney/Melbourne Investor Luncheon Presentation
Nexus Minerals remains an “under the radar company”, trading at close to cash backing while conducting joint venture exploration work with mid-tier producer Saracen Mineral Holdings.We are joined exclusively by Andy Tudor, manag
Highlights from the most recent campaign at Pinnacles included 11 metres at 5.6g/t gold, 2 metres at 13.9g/t gold, 13 metres at 4.6g/t gold and 2 metres at 10.7g/t gold.
Nexus is trading at close to cash backing, is leveraged to news flow, and is in a JV with the $740M capped producer Saracen Mineral Holdings. Find out more from Andy Tudor, CEO for Nexus, at Proactive's Spotlight CEO Sessions in March. Regi
Nexus Minerals has demonstrated the deep potential of its Pinnacles joint venture with Saracen Mineral Holdings by hitting consistently high-grade gold mineralisation below the project’s established resource area.
Nexus Minerals has completed its first drilling program at the Pinnacles gold project in Western Australia, setting up newsflow from assays next month as the company continues to farm in to the underexplored tenement.
Drilling will target depth extensions to the high grade mineralisation identified at the Pinnacles gold project, with the program to be wrapped up by the end of November. This will provide assay news flow in December.
Nexus Minerals Sydney/Melbourne Investor Luncheon Presentation
Nexus is a $4M market-capped company with $6M in cash, and has entered a JV with gold producer Saracen Mineral Holdings.Here is your chance to meet and greet CEO, Andy Tudor, at Proactive's Spotlight Investor Luncheons in October. Register
Nexus Minerals' holds $6 million in cash, yet has a market cap. circa $4 million, and has just entered into a joint venture with Saracen Mineral Holdings.Nexus Minerals' Andy Tudor, sat down with Proactive in Q&A Sessions™