Nexus Minerals (ASX:NXM) is advancing its exploration efforts at the Wallbrook Gold Project in Western Australia with a 4,000m reverse circulation drilling program focused on the Payns prospect. This program follows up on promising gold mineralization identified in previous aircore drilling conducted in late 2024 and early 2025. Prior drill results at Payns include notable intercepts such as 4m @ 7.12 grams per tonne gold from 8m and 4m @ 6.85g/t gold from 28m.
The current drilling program aims to assess the continuity, geometry, and grade of the emerging mineralized zones, providing valuable insights into the prospect’s potential. Nexus anticipates completing the program this month, with assay results expected in July and August. These results will be crucial for refining the geological model and improving the delineation of the mineralized zones. Managing Director Andy Tudor highlighted the strategic location of the Payns prospect, noting its proximity to major deposits currently being mined by Northern Star Resources (ASX:NST).
The Wallbrook Gold Project covers 192km2 within the Norseman-Wiluna Archaean Greenstone Belt in the Eastern Goldfields. Nexus Minerals, a gold-focused explorer with a market capitalization of $45.88 million, holds assets in Western Australia, New South Wales, and Victoria. The company’s projects are also considered prospective for critical minerals and porphyry copper-gold. The global gold market saw increased demand in 2024, driven by investment in bars, coins, and exchange-traded funds.
