en.Wedoany.com Reported - Nexus Minerals (ASX:NXM) has reported further high-grade gold intercepts from additional reverse circulation drilling at the Clement prospect within its Wallbrook Gold Project in Western Australia.
The latest results cover the final 23 RC holes and four hole extensions at Clement, which is adjacent to Nexus's Crusader-Templar deposit. The Crusader-Templar deposit currently hosts a resource of 304,000 ounces and is the focus of a Memorandum of Understanding (MoU) signed with a subsidiary of ASX-listed mining contractor Macro Metals (ASX:M4M). Under the MoU, once a final processing solution for Nexus's ore is determined, the subsidiary will fund mining operations, with profits split 60% to Nexus and 40% to the counterparty after cost recovery.
The strongest new result came from an extension of hole NMWBRC26-830, which returned 13 meters at 2.62 grams per tonne gold from 204 meters downhole, including 4 meters at 6.36 grams per tonne gold. A second extension hole, NMWBRC26-827, returned 18 meters at 1.12 grams per tonne gold from 204 meters, including 5 meters at 2.06 grams per tonne gold and 1 meter at 2.02 grams per tonne gold.
The Clement prospect offers significant growth opportunities near the upcoming mining operations at the Crusader-Templar deposit. Both are located within a corridor north of Northern Star's Wallbrook mine, which is part of the larger Carosue Dam gold operation.
Nexus is now working towards a maiden mineral resource estimate for Clement, which is expected to be included in a multi-prospect Wallbrook Mineral Resource Estimate (MRE) targeted for an update in the September quarter. Of the planned 22,000 meters of RC drilling at Wallbrook, approximately 8,345 meters have been reported to date.
Nexus Managing Director Andy Tudor said these final results build on the strong progress already made at the prospect. Depth extensions of two earlier RC holes confirm that the Clement mineralized system continues to deliver high grades and widths at depth, while intersecting stacked lodes remain open for lateral repetition and extension to the north. Drilling continues to define mineralization close to the Crusader-Templar deposit, with the two prospects now converging in the south, presenting additional target opportunities and potential synergies in future open-pit optimization.
Tudor said the Clement prospect is ready for its maiden mineral resource estimate, which will contribute to a project-wide resource update targeted for the September quarter. He also said he looks forward to reporting RC drilling results from the Payns, Branches, and Crusader-Templar prospects in the coming weeks.
