Nexus Minerals (ASX:NXM) reports ‘significant’ gold assay results following a regional exploration drilling campaign at the Branches Prospect, as part of its Wallbrook gold project in Western Australia.
The results, generated from 26 drillholes for 3,750m at the project’s Branches Prospect, have returned ‘high-grade’ gold intercepts that are hosted in the same structural setting and “right rocks” that host the company’s Crusader-Templar Prospect mineralisation, located about 3km along strike to the south.
‘Significant’ results include:
- 4m @ 7.23g/t Au (within 10m @ 3.33g/t Au from 115m)
- 4m @ 7.47g/t Au (within 8m @ 3.96g/t Au from 73m)
- 8m @ 3.65g/t Au (within 27m @ 1.16g/t Au from 26m)
- 3m @ 4.21g/t Au (within 27m @ 1.19g/t Au from 27m)
Addressing the results, Nexus Managing Director Andy Tudor commented: “To have received such strong gold results from this early-stage drilling at Branches validates our exploration strategy, which continues to reap rewards and demonstrates our growing understanding of the district mineralisation.
“To have received such strong gold results from this early-stage drilling at Branches validates our exploration strategy”
This early success in testing the first prospect outside of our Crusader-Templar Prospect, really opens up the opportunity of the four mineralised corridors to host significant gold mineralisation. These results are extremely positive and lead Nexus to believe that we may be sitting on a significant gold camp.”
The company also notes that these recent drilling results, as well as the identification of cross sections, have aided in extending the known gold mineralisation at the Branches Prospect, which is now defined over 650m along strike and is open in all directions.
In addition, it is reported that three parallel potential gold mineralised corridors (MC2, MC3, and MC4) lie to the east of the Crusader to Branches prospects corridor (MC1), however this area remains untested.
The Wallbrook gold project is located about 140km northeast of the township of Kalgoorlie in Western Australia and consists of an amalgamation of tenements that cover a total land area of 250km-square, which has produced over 350,000 ounces of gold from multiple operations between 1921 to 2012.
The project currently boasts a JORC 2012 compliant Mineral Resource Estimate (MRE) of 31Mt @ 1.5g/t for 1.5M ounces gold.
With the recent exploration drilling campaign at the Branches Prospect now complete, Nexus Minerals announces that it remains focused on defining this potential ‘significant’ gold camp discovery.
Images: Nexus Minerals Ltd
