Nexus Minerals (ASX:NXM) reports final assay results from its Payns prospect drilling program in Western Australia, positioning the prospect for a maiden mineral resource estimate (MRE).
The company has received results for all 79 reverse circulation (RC) holes totaling 6,040m at Payns, completing its part in a broader 21,985m campaign at the Wallbrook Gold Project.
According to Nexus, this final tranche covers 49 holes for 3,816m and includes intercepts of 5m @ 12.83 grams per tonne gold (Au) from 39m, including 1m @ 34.77g/t Au within 21m @ 3.26g/t Au; and 6m @ 3.15g/t Au including 1m @ 10.46g/t Au within 22m @ 1.14g/t Au from 28m.
Other notable results include 3m @ 3.89g/t Au within 8m @ 1.70g/t Au from 37m; 1m @ 4.68g/t Au within 6m @ 1.66g/t Au from 52m; and 1m @ 5.70g/t Au within 4m @ 1.59g/t Au from 86m.
These build on previously reported program highlights such as 5m @ 8.20g/t Au including 2m @ 19.00g/t Au within 13m @ 3.35g/t Au from 30m.
Managing Director Andy Tudor says completing the full Wallbrook RC drilling program safely and on time demonstrates the exploration team’s capabilities.
“Payns assay reporting is now complete, with the program returning impressive near-surface, high-grade intercepts,” Tudor says.
“Encouragingly, the drilling has left ongoing scope to grow the Payns prospect both along strike and at depth.
“Both Payns and Clement are now positioned with high-quality datasets to support the Wallbrook updated mineral resource estimate.”
Located approximately 146km northeast of Kalgoorlie, the Payns prospect sits approximately 4km northwest of the Crusader-Templa mineral resource.
Nexus says assay results from the Branches and Crusader-Templar prospects remain pending and are expected through July and August.
Independent consulting geologist Jeremy Clark of Lily Valley International has been engaged to deliver the updated multi-prospect Wallbrook MRE, targeted for completion by September.
The current Wallbrook resource comprises the Crusader-Templar combined estimate of 5.67 million tonnes (Mt) @ 1.7g/t Au for 304,000 ounces, including 2.46Mt @ 1.8g/t Au for 140,000 ounces in the indicated category.
Nexus Minerals is an Australian explorer focused on gold deposits in the Eastern Goldfields, WA.
Write to Paula Fabe at Mining.com.au
Images: Nexus Minerals
