en.Wedoany.com Reported - Nexus Minerals (ASX:NXM) has agreed to acquire the remaining 10% interest in the Pinnacles Gold Project from Northern Star Resources (ASX:NST) for a 1.5% net smelter return (NSR) royalty. Upon completion of the transaction, the joint venture between the two parties will be terminated, granting Nexus 100% ownership of the project.

The project is located 100 kilometers northeast of Kalgoorlie in Western Australia, near Northern Star's Carosue Dam operation (15 kilometers to the south). Under the agreement, Nexus has the right to repurchase 0.5% of the royalty at any time for A$550,000. The transaction is expected to be completed by September 30, 2026, subject to the satisfaction or waiver of conditions precedent related to existing legacy royalty agreements and ministerial consent.

The Pinnacles project has a JORC 2012-compliant mineral resource estimate of 609,000 tonnes at 4 g/t gold, containing 78,000 ounces of gold. The project is located within an approved mining lease and holds a native vegetation clearing permit valid until November 2030. Metallurgical test work indicates a recovery rate of approximately 97%. The underground resource estimate includes 450,000 tonnes at 4.6 g/t gold, containing 66,000 ounces of gold, with the remainder included in the open pit resource.

The company plans to submit a mine development and closure plan upon completion of the transaction. Nexus holds a 192-square-kilometer land package in the Eastern Goldfields, including the Wallbrook Gold Project immediately north of Northern Star's Carosue Dam mining operation.