Nexus Minerals (ASX:NXM) has confirmed gold mineralisation at the Payns Prospect, part of its Wallbrook Gold Project in Western Australia. The confirmation follows a 5,172-metre reverse circulation drilling program. Nexus Minerals is an Australian-based exploration company focused on discovering and developing high-value gold deposits. The company’s primary focus is on its extensive tenement holdings in the Eastern Goldfields of Western Australia.
The drilling program, consisting of 46 drillholes, followed up on a previous aircore program. Results indicate gold mineralisation spanning 900 metres by 750 metres, open to the north and south along strike and down plunge. Significant results from the program include 8 metres at 7.99 grams per tonne gold from 40 metres, including 24 metres at 2.8 grams per tonne gold, and 4 metres at 4.24 grams per tonne gold from 56 metres.
Managing Director Andy Tudor stated that the prospect continues to demonstrate the continuity of gold mineralisation, with 45 of the 46 drillholes intersecting. The company is currently collecting and submitting one-metre samples to the laboratory to define a higher-grade core, with results expected in August. Additionally, Nexus plans to conduct a multi-element litho-geochemical analysis to further its geological understanding and vector targets.
Tudor added that the company is confident the prospect will continue to build, potentially adding to the Wallbrook Project’s gold resources. Nexus will collate the latest results to plan a further program, including infill drilling of the mineralised envelope and extensional drilling laterally and down dip, as part of its broader strategy to expand the project’s near-surface ounce portfolio.
