Drilling by Nexus Minerals (ASX:NXM) Extends Mineralization at Crusader-Templar Gold Prospect – The Market Herald

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  • Nexus Minerals (NXM) Expands Crusader-Templar Prospect Mineralization at its Wallbrook Gold Project in Western Australia
  • The company drilled four deep diamond holes which intersected mineralization to a vertical depth of 600m
  • Nexus says all four holes encountered several zones of gold mineralization at depth
  • The company will continue the deep diamond drilling program, which will test mineralized zones to approximately 600m.
  • NXM shares last traded at 43.5 cents

Drilling by Nexus Minerals (NXM) has extended the mineralization of the Crusader-Templar prospect at its Wallbrook gold project approximately 100 kilometers north-northeast of Kalgoorlie in WA to over 600 metres.

The company said deep diamond drilling intersected mineralization at over 600m vertical depth, with the four holes penetrating several zones of gold mineralization at depth.

Significant assay results from the drilling program include 4 m grading 4.26 grams of gold per tonne from 736 m and 3.75 m grading 3.52 g/t from 298 m.

“All four holes were drilled at depths and locations with no previous drilling activity and successfully ‘tag’ Crusader-Templar mineralization at depths greater than 600m vertically,” said Andy Tudor, Managing Director of Nexus. .

“These are incredibly large exit holes and it is credit to the Nexus exploration team to have intersected this mineralization at these depths. The depth extent has only been drill tested to date in a small number of locations along 1.6 km strike and remains open at depth.

Nexus said it will continue the diamond drilling program at depth, testing mineralized zones to around 600m, with the aim of “scoring” mineralization at this depth across the full extent of the 1.6 strike. km.

The strike length has so far been tested with four holes approximately 200m apart.

NXM shares last traded at 43.5 cents on April 8.

Tana T. Thorsen