Nexus Minerals Limited of Australia Completes First-Phase Drilling at Wallbrook Gold Project

en.Wedoany.com Reported - On November 10, Nexus Minerals Limited of Australia announced exploration progress at its Wallbrook gold project in Western Australia. The company's approximately 2,000-meter diamond drilling program has completed six holes at the Payns deposit, with the rig subsequently relocated to the Branches deposit. Drilling will then proceed in sequence to the newly identified lodes at the Crusader–Templar deposit and the Amand prospect. Geological logging of the Payns drill core shows that the holes intersected the target mineralized zones at positions predicted by the resource model. Initial assay results are expected to be announced in early December 2026.

This drilling campaign covers four areas—Payns, Branches, the newly identified lodes at Crusader–Templar, and Amand—with the primary objective of increasing geological confidence in the existing resource. The Payns and Branches deposits currently contain inferred resources, and the company aims to upgrade part of these resources to indicated status through infill drilling and geological verification. At Crusader–Templar, the focus is on confirming the spatial geometry of the newly identified lodes to define targets for follow-up reverse circulation drilling. At the Amand prospect, the main aim is to collect structural geological data to support the next phase of resource definition drilling.

The Wallbrook project is located approximately 140 kilometers northeast of Kalgoorlie in Western Australia, immediately north of Northern Star Resources' Carosue Dam mining area. On September 17, 2026, Nexus updated the project's mineral resource estimate. The combined resource across the Crusader–Templar, Payns, and Branches deposits totals 13.34 million tonnes at an average gold grade of 1.5 g/t, containing 631,000 ounces of gold, including 207,000 ounces in the indicated category and 424,000 ounces in the inferred category. This represents a 108% increase over the previous resource of 304,000 ounces. Including the Pinnacles deposit, the company's group gold resources total approximately 14 million tonnes at an average grade of 1.6 g/t, containing 709,000 ounces of gold.

The drilling will also involve the collection of metallurgical test samples, bulk density samples, and waste rock samples to provide data for subsequent mine design and processing studies. Drill samples are divided according to geological boundaries or collected at nominal intervals of approximately 1 meter, and are dispatched in batches to the laboratory for gold analysis using Chrysos PhotonAssay technology. The company will also record rock structure and density data to refine the orebody model, evaluate deeper high-grade mineralized zones, and inform subsequent mining conditions. Geological logging of the first batch of holes at the Payns deposit has been completed.

The memorandum of understanding previously signed between Nexus and Macro Gold Mining Services Pty Ltd has been terminated because the two parties were unable to reach acceptable ore sale and purchase agreements and could not finalize a third-party toll milling arrangement. Nexus will continue to engage with potential regional partners to explore ore sales, third-party processing, and other development pathways. The company states that the key operational permits required for Phase 1 mining at Wallbrook have been obtained, but remain subject to securing a viable third-party toll milling solution.