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Nexus Minerals Ltd.
Summary
| Project: | Pinnacles | |
|---|---|---|
| Deposit: | Pinnacles | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/16/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-2-2018: Nexus Minerals Ltd. announces an Exploration/Drilling Update report for its Pinnacles deposit at the Pinnacles project. Drilling results incl. 21m @ 0.88g/t Au from 18m. Eastern Goldfields gold explorer, Nexus Minerals Limited (ASX: NXM) (Nexus | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andy Tudor (Internal) | |
| ABSTRACT: | Eastern Goldfields gold explorer, Nexus Minerals Limited (ASX: NXM) (Nexus or the Company) is pleased to announce the receipt of the final 1m sample results from the December 2017, 3,092m reverse circulation (RC) drill program at the Pinnacles Gold Project. The 1m samples were collected from the anomalous (>0.1g/t Au) 4m composite sample results from its GT5 and GT6 prospects. The drill results from the recent 8-hole program at GT6 provide the Company with encouragement to test the full 3km x 600m extent of the anomalous gold zone. The geological and mineralisation features exhibited to date are consistent with results returned from initial exploration programs at the Karari gold mine, 20 kilometers to the north, in the mid 1990’s. The Karari “discovery hole” was drilled in 1997 and returned 12m @ 2.05g/t Au from 38m. This Karari-style gold mineralisation is known to be confined to volcaniclastic sediments and is associated with quartz-hematite alteration assemblages. These features were observed in the recent drilling at GT6 and the prospect will be subject to targeted exploration programs in 2018. The drilling results from GT5 south, however, did not return any significant zones of mineralisation. Mineralised intersections were previously observed at the weathering boundary, on the top of fresh rock. No primary zones of mineralisation have been identified in fresh rock below this boundary. The GT5 prospect remains open to the north where structural targets remain to be tested. | |
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