High-Grade Gold Discovery Propels Nexus Minerals at Payns Prospect
Nexus Minerals (ASX: NXM) has unveiled exceptional high-grade gold discovery by Nexus Minerals at the Payns Prospect within its Wallbrook Gold Project, with assays reaching up to 30.05 g/t gold. These impressive findings strengthen the company's position in Western Australia's Eastern Goldfields and set the stage for continued exploration success.
One-Meter Results Confirm Significant Grade Uplift at Payns Prospect
The latest drilling results from Nexus Minerals' 5,172-meter, 46-hole reverse circulation (RC) program at Payns Prospect have delivered a substantial gold grade uplift compared to previously reported four-meter composite results.
The standout intercepts include:
- 5m @ 8.10 g/t Au including 1m @ 30.05 g/t Au (within 15m @ 2.94 g/t Au) from 39m
- 8m @ 4.19 g/t Au (within 15m @ 2.37 g/t Au) from 37m
- 7m @ 2.92 g/t Au including 1m @ 10.55 g/t Au (within 16m @ 1.49 g/t Au) from 72m
- 6m @ 2.76 g/t Au (within 12m @ 1.46 g/t Au) from 28m
- 1m @ 13.81 g/t Au (within 2m @ 8.38 g/t Au) from 60m
- 4m @ 3.35 g/t Au (within 15m @ 1.02 g/t Au) from 39m
These results confirm strong spatial continuity of the mineralisation and highlight the presence of high-grade gold zones within the broader mineralised envelope.
"Payns prospect continues to demonstrate growing potential with a compelling grade profile. These exceptional one-metre results highlight broad continuity of mineralisation across the prospect with high-grade gold zones within. The prospect is well positioned for more comprehensive infill drilling, which will also allow for efficient extensional drilling both laterally and down dip of the emerging mineralised zones," said Nexus Managing Director Andy Tudor.
Expanding Mineralisation Footprint at Wallbrook
The mineralised footprint at Payns currently covers an impressive area of 900m x 750m and remains open for lateral extensions and down plunge of mineralised zones. This expanding zone sits just 4km northwest of Nexus' Crusader-Templar combined Mineral Resource of 304,000 ounces of gold.
Significantly, the Payns Prospect is strategically positioned only 1km southeast of the Porphyry and Million Dollar gold mines, both currently in production by Northern Star Resources. This proximity to existing mining operations enhances the potential strategic value of Nexus' discoveries.
Understanding the Gold Mineralisation Controls
Drilling has revealed that gold grades at Payns correlate with several key factors:
- Increased occurrence of quartz + goethite veining in oxide material
- Quartz-sulphide (pyrite ± tourmaline) veining in fresh rock
- Intensity of sericite + rutile + tourmaline + albite alteration (the regional gold signature)
- Very high grades noted in proximity to hematised felsic intrusives into the fresh rock
These geological indicators provide valuable targeting information for future exploration efforts across the Wallbrook project area. Furthermore, the presence of caesium and lithium grades in similar geological settings can sometimes boost overall project potential.
Regional Exploration Program Now Underway
Building on its recent success, Nexus has commenced an additional 6,000-meter RC drilling program targeting three promising prospects:
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Clement Prospect – Located immediately north of the Wallbrook Gold Mine (Northern Star), with previous results including 8m @ 2.94 g/t Au (within 28m @ 1.13g/t Au) from 44 meters
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Godfrey Prospect – Situated 600 meters east of the Crusader-Templar deposit, with previous results of 4m @ 4.02 g/t Au (within 15m @ 1.30g/t Au) from 24 meters
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Target MC4.1 – Located on the eastern side of the Wallbrook Gold Project with gold mineralisation mapped over 1.7km of strike, featuring previous results of 23m @ 2.52 g/t Au including 8m @ 5.41 g/t Au
This extensive program is expected to be completed in early October, with results to follow, and aims to assess continuity, geometry, and tenor of the emerging mineralised gold zones at each target. In addition, companies like S2 Resources have also launched major drilling campaigns across Australia, indicating increased exploration activity in the region.
What is Reverse Circulation (RC) Drilling?
Reverse Circulation drilling is a drilling technique commonly used in mineral exploration where compressed air forces samples up an inner tube to the surface. This method provides high-quality, uncontaminated samples for analysis and is particularly effective for gold exploration projects where contamination must be minimised.
RC drilling is faster and more cost-effective than diamond drilling, making it ideal for exploration programs where multiple holes are required to establish mineral continuity. The technique allows for real-time geological assessment through the collection of rock chips, which can be immediately logged and sampled.
For investors, RC drilling programs indicate a company is at an advanced exploration stage, moving beyond initial reconnaissance and into more targeted resource definition work.
Investment Potential: Building a Significant Gold Portfolio
Nexus Minerals is methodically building its gold resource base at the Wallbrook project through a systematic approach to exploration. The company's strategy focuses on efficient discovery of near-surface gold mineralisation, which could potentially be developed with lower capital costs than deeper deposits.
The Wallbrook Gold Project is strategically located in a well-established gold mining region, just 140km northeast of Kalgoorlie, providing excellent access to infrastructure and processing facilities. The project's proximity to active mining operations by major gold producer Northern Star Resources adds to its strategic appeal.
Current highlights of Nexus' gold portfolio include:
- Crusader-Templar combined Mineral Resource: 304,000 oz of gold
- Expanding footprint at Payns Prospect: 900m x 750m (open in multiple directions)
- Multiple promising targets with high-grade intercepts across the project
Why Investors Should Follow Nexus Minerals
Nexus Minerals represents an attractive opportunity for investors interested in gold exploration companies with near-term growth potential:
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Strategic Location: The Wallbrook Gold Project is situated in the prolific Eastern Goldfields of Western Australia, adjacent to operating mines.
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Expanding Resource Base: The company continues to grow its gold resources through systematic exploration, with the Crusader-Templar deposit (304,000 oz) providing an initial foundation.
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High-Grade Discoveries: Recent results from Payns Prospect demonstrate the potential for significant high-grade gold discovery by Nexus Minerals, with assays up to 30.05 g/t gold.
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Methodical Approach: Nexus employs a systematic, staged exploration strategy that maximises the chance of success while managing exploration risk.
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Active Exploration Program: With 6,000 meters of drilling now underway at multiple targets, investors can expect a steady flow of news over the coming months. Similar to Metal Bank's success at their Livingstone Project, Nexus aims to significantly increase their resource base.
As Nexus continues to advance its exploration efforts at Wallbrook, the company is well-positioned to potentially add substantial value through resource growth and new discoveries in one of Australia's premier gold mining districts. Additionally, the possibility of early gold production from stockpiles could provide cash flow to fund further exploration activities.
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