Nexus Minerals (ASX:NXM) has begun a 4-hole, 2,000m diamond drilling program at the Bethanga Copper-Gold Project in Victoria.
The drilling program will be targeting areas prospective for copper-gold porphyry style mineralisation within Bethanga.
Managing Director Andy Tudor says the company starting diamond drilling at the project is an ‘exciting’ milestone and represents the next ‘significant’ phase of exploration.
“The program will continue over the coming months with much anticipation of opportunity to build on the project potential following on from the successful fertility assessment study completed last year.”
Nexus, which has a market capitalisation of $13.22 million, says drilling has been planned following the completion of a detailed porphyry copper-gold fertility study which uncovered a porphyry target zone covering 8km by 3km.
The completed fertility study confirmed the existence of a multi-phase magnetic intrusive complex with a signature indicative of a fertile porphyry copper-gold system.
Drilling is expected to continue through the coming months. Nexus says results will be reported when made available.
The Bethanga project covers a 141km-square area and is focused on targeting ‘large-scale’ porphyry copper-gold systems.
As of 31 December 2023, the company had $5.58 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Nexus Minerals
