For thousands of other reports visit RSC's Mineral Intellingence Map
Nexus Minerals Ltd.
Summary
| Project: | Pinnacles | |
|---|---|---|
| Deposit: | Pinnacles | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/17/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-10-2016: Nexus Minerals Ltd. announces an Exploration/Drilling Update report for its Pinnacles deposit at the Pinnacles project. JV with Saracen Mineral Holdings - drilling results incl. 2m @ 1.77g/t Au. Nexus Minerals Limited (ASX: NXM) (Nexus or the | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andy Tudor (Internal) | |
| ABSTRACT: | Nexus Minerals Limited (ASX: NXM) (Nexus or the Company) is pleased to announce the results of its recently completed 6 hole 825m RC drill program, within the Pinnacles JV Project, and a project update on its 100km2 regional tenement package, located in the Eastern Goldfields, 120km northeast of Kalgoorlie. The positive anomalous gold results returned in the recent drill program, in association with strongly silicified stratigraphy, quartz-carbonate veining, extensive alteration, hydrothermal brecciation and up to 10% pyrite content – all provide encouragement for regional exploration success. The Carosue Dam district exhibits a large scale mineralised hydrothermal gold system having produced multi-million ounces of gold to date, and still today contains >4Moz gold in regional resources. Nexus holds a significant land package (100km2 ) of highly prospective geological terrain within a major regional structural corridor, and is actively exploring for gold deposits. Two drill holes were designed to a depth of 200m to test anomalies identified from a Gradient Array Induced Polarisation (GAIP) survey undertaken by Nexus in June this year. This GT1 anomaly contains coincident high order resistivity (up to 650 ohm.m) and chargeability (up to 40mV/V) anomalism also coincident with previously identified aeromagnetic highs, representing potential high level intrusions. Both drill holes encountered strongly silicified stratigraphy, with quartz-carbonate veining, extensive hydrothermal brecciation and up to 10% sulphide content – explaining the GAIP survey anomaly. Whilst no mineralised intersections were returned in this location, the presence of intense silicification and alteration provide for the existance of a large scale regional alteration system. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report