Nexus Minerals (ASX:NXM) reports further ‘significant’ broad ‘high-grade’ gold assay results from drilling at the Crusader-Templar Prospect, within the Wallbrook Gold Project in the eastern goldfields of Western Australia.
The company reports results have shown the mineralisation to be continuous along the full extent of the 1.6km mineralised corridor tested to date, with multiple sub vertical sheeted mineralised porphyry units being mapped effectively.
The strong continuity of mineralisation associated with these sub-vertical porphyry units allows for effective drill targeting of the mineralised zones.
This latest set of results are predominantly from the northern end of the Crusader-Templar prospect where the drill program focussed on more detailed pattern drilling of the oxide component of the mineralisation down to 100m.
This targeted shallow drilling was designed to provide the detail required for inclusion in a mineral resource estimate and pit design optimisation studies, to be undertaken on any potential shallow oxide resource.
Commenting on the results, Nexus Managing Director Andy Tudor said: “The results received from this shallow oxide mineralisation targeted program have again yielded some great results. More assay results are yet to be received from our recently completed 70,000m RC drill program along the 1.6km strike at the Crusader-Templar prospect.
“More assay results are yet to be received from our recently completed 70,000m RC drill program”
Company geologists and our consultants are well advanced in their geological interpretation of the drilling carried out to date and this work, in conjunction with assay results received and an updated database, will be integral to initial resource modelling work commencing this quarter.”
Nexus drill campaigns have concentrated on a mineralised corridor 1.6km in length and some 300m wide, with the drilling being undertaken on Nexus’ 100% owned granted mining tenements.
The ‘highly prospective’ tenure is situated between Northern Star’s (ASX:NST) operating porphyry mining centre and its multi-million-ounce Carosue Dam mining operation – where Northern Star’s 3.2Mtpa gold processing plant is located.
Nexus is actively exploring for gold deposits on its ‘highly prospective’ tenement package in the eastern goldfields of Western Australia.
In addition to this, the company has recently expanded its existing project portfolio with the addition of the Bethanga Porphyry Copper-Gold project in Victoria.
In Western Australia, the consolidation of the ‘highly prospective’ Wallbrook Gold Project (250km-square) by the amalgamation of existing Nexus tenements with others acquired, will advance these gold exploration efforts.
Nexus Minerals’ tenement package at the Wallbrook Gold Project commences immediately to the north of Northern Star’s multi-million-ounce Carosue Dam mining operations, and current operating Karari and Whirling Dervish underground gold mines.
Nexus holds a significant land package of ‘highly prospective’ geological terrane within a major regional structural corridor and is exploring for gold deposits.
Images: Nexus Minerals Ltd
