en.Wedoany.com Reported - Nexus Minerals (ASX:NXM), backed by an experienced leadership team, has achieved outstanding drilling results at its Wallbrook Gold Project in Western Australia. Managing Director Andy Tudor brings over 37 years of experience in mining geology, with a career highlight being the discovery of the King of Hills deposit in the Eastern Goldfields of Western Australia in 1985: located approximately 29 kilometers northwest of Leonora, the deposit processed 28 million tonnes of ore at a grade of 1.8 g/t as an open pit before 2004, producing approximately 1.64 million ounces of gold; transitioning to underground operations from 2011 to 2018, it yielded an additional over 318,000 ounces of gold. The mine is currently owned by Vault Minerals (ASX:VAU), which is merging with Regis Resources (ASX:RRL), and is estimated to still hold 2.58 million ounces of ore reserves, producing over 51,000 ounces of gold in fiscal year 2025.

The company's management team has deep experience in the mining industry. Founding Chairman Paul Boyatzis has over 35 years of experience in investment and stock markets, focusing on resources and financial services in Australia and the UK. Non-Executive Director Bruce Maluish has been in the industry for over 33 years and is currently Managing Director of silica sand company VRX Silica (ASX:VRX). Tudor himself has held roles including Exploration Manager, Country Manager, and General Manager, and has been responsible for discovering several multi-million ounce deposits. He praised that senior team members have followed him for over 10 years, and geologists for over 6 years, all very familiar with the local stratigraphy.

Since joining Nexus in 2014, Tudor has built a Western Australian gold portfolio as directed by the board. The company acquired the Wallbrook Gold Project from Saracen Minerals in 2018. Drilling results at the Templar-Crusader prospect within the project have defined indicated and inferred resources of 5.67 million tonnes at a grade of 1.7 g/t, representing 304,000 ounces of contained gold. Based on this resource, Nexus has signed a Memorandum of Understanding for mine development and mining services with Macro Gold Mining Services (MGMS), a subsidiary of Macro Metals (ASX:M4M). Under the MOU, MGMS will fund development, mining, and operating costs, while Nexus will share profits on a 60:40 basis in favor of Nexus. The company stated that while Crusader-Templar could support a larger-scale operation, the plan is to start small before proceeding with larger-scale development.

Beyond the Wallbrook project, Nexus also holds the Pinnacles joint venture project in partnership with Northern Star Resources (ASX:NST). Pinnacles has JORC resources of 609,000 tonnes at a grade of 4 g/t, containing 78,000 ounces of gold, mostly underground. Northern Star holds a 10% contributing interest and is committed to purchasing ore from the project under an ore purchase and sale agreement, with ore to be processed at the Carosue Dam processing plant approximately 13 kilometers to the north. Tudor noted that the company has largely completed the mine proposal and closure plan, but a new Aboriginal title heritage group has emerged in the southern part of the project area, requiring an agreement to be reached. Additionally, Nexus has acquired a 7,500 square kilometer critical minerals portfolio in New South Wales, aimed at regional-scale exploration targeting gold, copper, lithium, cesium, tantalum, and tin.

The company's current focus is on resource growth. With drilling completed at the Clement and Payns prospects within the Wallbrook project, Nexus is moving to drill the Branches discovery zone, followed by additional drilling at Crusader-Templar. Drilling will continue until mid-July, with final results expected in mid-August, and a global resource estimate covering the three prospects will be updated in the September quarter. Tudor stated that building the ounce profile is central to the work, and following the resource update, mining operations with MGMS may be finalized.

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