Sign in Subscribe
Mining industry

Nexus Minerals Ltd Reports Positive Drill Results at Payns Prospect within Wallbrook Gold Project

Strategic Insights

— 2 min read

Nexus Minerals Ltd has made significant progress in its exploration efforts at the Payns Prospect within the Wallbrook Gold Project in Western Australia, with recent drill results revealing high-grade gold zones and broad continuity of mineralisation. The company's drilling program has improved the definition of high-grade zones within the broader mineralised gold footprint, with grades reaching up to 30.05 grams per tonne (g/t) gold. The Payns Prospect is situated approximately one kilometre southeast of the producing Porphyry and Million Dollar gold mines, making it a highly prospective area for gold mineralisation.

Key Takeaways:

  • The Payns Prospect has demonstrated growing potential with a compelling grade profile, with significant intercepts including 5 metres at 8.10 g/t gold, including 1 metre at 30.05 g/t (within 15 metres at 2.94 g/t) from 39 metres.
  • The Payns mineralised footprint extends across 900 by 750 metres and remains open both laterally and down plunge, indicating a large and continuous zone of mineralisation.
  • High-grade gold zones have been identified within the broader mineralised gold footprint, with grades reaching up to 30.05 g/t gold.
  • Drilling has shown that gold grades correlate with increased quartz and goethite veining in oxide material, quartz-sulphide veining in fresh rock, intensity of sericite, rutile, tourmaline, and albite alteration, and proximity to haematised felsic intrusives in fresh rock.
  • The Nexus exploration team continues to analyse gold assay and multi-element data, with future drilling planned to combine comprehensive infill programs within the identified mineralised envelope and targeted extensional drilling laterally and down dip.
  • Nexus has also begun a further 6,000-metre RC drill program targeting the Clement Prospect, Godfrey Prospect, and Target 4.1, which will test continuity, geometry, and grade of emerging mineralised zones across the regional targets.

Statistics:

  • 46-hole reverse circulation (RC) drilling program completed at the Payns Prospect, totaling 5,172 meters.
  • 900 by 750 metre mineralised footprint identified at the Payns Prospect, remaining open both laterally and down plunge.
  • High-grade gold zones identified with grades reaching up to 30.05 g/t gold.
  • Aircore drilling success at Payns Prospect includes:

+ 4 metres at 7.12 g/t gold (within 20 metres at 1.77 g/t gold) from 8 metres

+ 4 metres at 6.85 g/t gold (within 16 metres at 2.74 g/t gold) from 28 metres

+ 4 metres at 6.59 g/t gold (within 8 metres at 3.44 g/t gold) from 40 metres

+ 4 metres at 5.02 g/t gold (within 8 metres at 2.60 g/t gold) from 20 metres

+ 4 metres at 4.39 g/t gold (within 8 metres at 2.72 g/t gold) from 24 metres

  • Upcoming 6,000-metre RC drill program targeting the Clement Prospect, Godfrey Prospect, and Target 4.1, with drilling expected to conclude in early October.

Sources:

  • [Source 1: Nexus Minerals Ltd press release (no date)]
  • [Source 2: Nexus Minerals Ltd website (no date)]

Read more