Nexus intersects 14m @ 8.8g/t Au at Crusader

Nexus Minerals Limited (ASX: NXM) has announced that it has intersected “broad and high grade” gold from a series of three RC holes drilled at the Crusader prospect within its Wallbrook Gold Project in Western Australia’s Goldfields region.

The drilling program was designed to test depth and strike extensions beneath existing known mineralisation, which has now been tested over 600m of strike and to 500m depth.

Key results include:

Hole 176: 19m @ 6.57g/t Au from 141m; including
- 14m @ 8.80g/t Au; including
  - 3m @ 21.59g/t Au
Hole 174: 24m @ 1.32g/t Au from 144m; including
- 8m @ 3.51g/t Au
Hole 172: 18m @ 1.08g/t Au from 188m.

Drilling at Crusader

Nexus has now received assay results from 11 RC holes (for 3,700m) at Crusader, with results from another 8 holes (for 1,625m) pending.

Testing has shown that gold mineralisation at the prospect is hosted within silicified quartz porphyry, with extensive alteration and stockwork veining.

The drill holes were designed to test the zone from 150m to 300m depth, with all holes encountering mineralisation. Nexus has stated that it is encouraged that mineralisation tenor and width appear to remain constant.

Further drilling at the prospect will test at depth, along with testing strike extensions on the 1.6km Crusader / Templar mineralised corridor.

Wallbrook Gold Project

The 250km² Wallbrook Gold Project, located ~100km north east of Kalgoorlie, encompasses a series of tenements purchased from Newmont and Saracen Minerals in 2018.

The project is considered highly prospective for gold mineralisation discovery, with only limited exploration carried out to date.

A previous drill campaign in August 2020 returned encouraging results across multiple prospects including Crusder and Templar.

“These high grade results from the Crusader Prospect have again shown excellent continuity of mineralisation”

Management comments

Nexus Managing Director Andy Tudor commented “These high grade results from the Crusader Prospect have again shown excellent continuity of mineralisation with broad, high-grade gold intersected. With highly encouraging results from the first 11 holes in this drilling campaign, we are eagerly awaiting the results from the further 8 holes drilled (including diamond tails) in the current exploration program at Crusader.

Additionally, the diamond drilling currently underway at Templar is delivering some very interesting core, increasing our confidence in the Crusader / Templar 1.6km+ corridor with every drillhole.”