Nexus Minerals (ASX:NXM) is planning to incorporate further expansion of the Branches prospect within the Wallbrook Gold project in Western Australia, into future drilling campaigns.
This news comes after Nexus, which has a market capitalisation of $50.7 million, received gold assays from the recently completed aircore drilling program.
At the MC1.4 target, the results map an anomalous trend from the southern end of Branches a further 1km to the south. The company says the mineralised system at the prospect now has potential to be traced over 2.1km.
Managing Director Andy Tudor says target MC1.4 generated further excitement for the company and mapped a potential doubling of the mineralised system at Branches.
“The pipeline of high-quality targets underpin an exciting period of growth for the Wallbrook Gold Project,” Tudor says.
Nexus says the MC4.3 target identified multiple anomalous features and will initially be assessed during further field ground truthing studies.
These studies will be undertaken in conjunction with an assessment of the bottom of hole multi-element data once received.
Meanwhile, target MC5.4 returned a limited number of anomalous intercepts which failed to form coherent anomalism or geological associations. This target has therefore been assessed and discounted from further exploration work.
Tudor adds that the width and tenor of the current results “represent regional aircore success” on the project.
A reverse circulation drilling program is currently underway at the Payns prospect, as the company aims to expand upon earlier results with the aircore rig. The program comprises 4,000m of drilling and represents the first reverse circulation campaign to be completed over one of the recent aircore discoveries.
The Wallbrook Gold Project, covering 192km2, is an amalgamation of tenements acquired from Newmont (ASX:NEM) and now delisted Saracen Minerals in 2018.
Nexus Minerals is a resources company with a portfolio of prospective gold and copper projects in Western Australia, New South Wales, and Victoria.
Write to Aaliyah Rogan at Mining.com.au
Images: Nexus Minerals
