Nexus Minerals (ASX:NXM) is starting an aircore drilling program at Target MC3.3 and Branches prospects within the Wallbrook Gold Project, located 140km northeast of Kalgoorlie in Western Australia.
The company expects to complete 10,000m of drilling by mid-November.
A reverse circulation drilling program has already been completed at Wallbrook Project totalling 59 holes for 6,155m. The program was completed across the Clement and Godfrey prospects, and Target 4.1 aiming to assess continuity, geometry, and tenor of mineralisation identified in prior regional exploration campaigns.
Managing Director Andy Tudor says the Clement prospect illustrates the growing opportunity at Wallbrook with broad high-grade gold mineralisation discovered, just 250m east of the company’s Crusader-Templar deposit.
“These results demonstrate the opportunity for further meaningful gold discovery on the project and also indicate the mineralising system, giving rise to the Crusader-Templar deposit, is larger than previously recognised,” Tudor says.
Intersections from Clement include 20m @ 4.06 grams per tonne gold within 36m @ 2.65g/t gold from 116m; 20m @ 2.39g/t, including 4m @ 4.47g/t gold within 52m @ 1.06g/t gold from 36m; and 8m @ 2.33g/t gold within 12m @ 1.81g.t gold from 112m.
Meanwhile, the Godfrey prospect has returned 4m @ 1.96g/t gold within 8m @ 1.07g/t gold from 84m; 4m @ 1.31g/t gold within 28m @ 0.51g/t gold from 20m; and 8m @ 1.12g/t gold, including 16m @ 0.7g/t gold.
Drilling at Godfrey has confirmed the mineralised system to extend to surface.
“With the gold price at recent highs there is no better time to be active in the eastern goldfields of Western Australia,” Tudor adds.
Trading Economics marked the price of gold at US$4,350 ($6,675) as of 21 October, putting the commodity up 65.78% for this year to date.
Write to Maddison Elliott at Mining.com.au
Images: Nexus Minerals
