Proactive Investors - Run By Investors For Investors

Nexus Minerals drills out high-grade gold from Wallbrook in March quarter

The company also completed a $1,625,500 capital raising to allow accelerated drill testing of the Wallbrook Gold Project.
golden key
Nexus is planning a drill program at the Crusader prospect

Nexus Minerals Ltd (ASX:NXM) undertook a 6,960 metre reverse circulation (RC) drill program at the Wallbrook Gold Project in WA during the quarter ended March 31, 2019.

The Wallbrook project covers about 250 square kilometres of prospective geological terrain considered highly prospective for the discovery of significant gold mineralisation.

READ: Nexus Minerals hits high-grade gold up to 20.13 g/t at Wallbrook project

Nexus’ RC drill program completed at the Crusader and Paint prospects returned high-grade gold intersections including:

• Crusader: 27 metres at 3.18g/t gold from 61 metres;
• Crusader: 35 metres at 2.85g/t gold from 25 metres;
• Paint: 20 metres at 0.58g/t gold including 4 metres at 2.17g/t gold; and
• Paint: 16 metres at 0.89g/t gold including 8 metres at 1.70g/t gold.

June 2019 quarter work program

During the June 2019 quarter Nexus intends to undertake the following activities at the Wallbrook Gold Project:

• Analyse data received from recently completed RC drill program;
• Undertake 3D modelling of Crusader RC drill data;
• Drill program planning at Crusader prospect;
• Integrate and analyze gravity and high-resolution ground magnetic data from Templar prospect to generate drill targets along prospective mineralised corridor;
• Geological and structural mapping;
• Analysis of regional geochemistry; and
• Geophysical programs including high-resolution ground magnetics.

Well-funded for accelerated drilling

Nexus has also completed a $1,625,500 capital raising from a $1,254,000 private placement and a $371,500 share purchase plan.

The funds raised will allow accelerated drill testing of the company’s Wallbrook Gold Project.

View full NXM profile View Profile

Nexus Minerals Ltd Timeline

Related Articles

1549597758_MEI-canadian-portfolio-757.jpg
February 07 2019
Meteoric is looking to bolster its portfolio with gold and base metal acquisitions as exploration at its cobalt projects continues.
Inspection at Cangai property
April 28 2019
The company has the Cangai Copper Project in northern NSW as its flagship asset.
Man clasps together hands painted in Tanzanian flag colouring
March 07 2019
It is now exploring the market in Mauritius for its US$40 million development funding.
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use