- Nexus Minerals (NXM) hits “significant” high-quality mineralization of gold from drilling at its Wallbrook gold project near Kalgoorlie, Western Australia
- The results come from a drilling campaign in some key regional prospects in the Walbrook area
- Managing Director Andy Tudor says the scale of the steel structures of this mineralized system is “extremely encouraging”
- Five rigs continue to operate on site – three RC rigs and two diamond rigs
- Shares of Nexus rose 1.61 percent to 31.5 cents each at 10:17 a.m. Eastern European standard
Nexus Minerals (NXM) has achieved “significant” high-quality gold mineralization as a result of drilling at its gold project Walbrook near Kalgoorlie in Western Australia.
The initial drilling focused on two regional avenues, Brunch and Solomon, which lie on a mineralized corridor more than five kilometers long and 300 meters wide.
Meanwhile, Nexus has also completed drilling on the newly named Clement Avenue, which lies parallel to Brunch and Solomon along another mineralized corridor.
The company said it crossed truncated and hematite-altered mineralized quartz-porphyry units, which it called “the right rocks,” in all three perspectives.
Nexus CEO Andy Tudor said the scale of the steel structures of this mineralized system was “extremely encouraging”.
“Obtaining such high-quality gold results from this early stage of regional drilling, both surface drilling and at a depth of more than 200 meters vertically, leads Nexus to believe that we may be in a significant gold camp,” said Tudor.
“Our aggressive exploration strategy continues to bear fruit, and after receiving these stunning results from Brans Avenue, the next reverse circulation drilling program (RC) has already begun.”
Some of the best results of recent drilling include a 5-meter hit of gold at 17.91 grams per tonne (g / t) in Branches, a 10-meter hit of 3.4 g / t of gold from Solomon and a four-meter hit of 3.73 g / t of gold from Clement.
Five rigs continue to operate on site – three RC rigs and two diamonds.
Shares of Nexus rose 1.61 percent to 31.5 cents each at 10:17 a.m. Eastern Time.