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Transaction Announcement Reports
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Project: | Pinnacles | |
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Deposit: | Pinnacles | |
Location: | Australia | |
Commodities: | Gold | |
Date: | 8/6/2018 | |
Report Code: | JORC | |
Report Type: | Exploration/Drilling Update | |
Project Stage: | Pursuing Resource Increase/Upgrade | |
Report details: | 6-8-2018: Nexus Minerals Ltd. announces an Exploration/Drilling Update report for its Pinnacles deposit at the Pinnacles project. Drilling results incl. 4m @ 12.86g/t Au from 56m. 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 results of two recently completed drill programs. A 3,992m reverse circulation (RC) program at the Wallbrook Gold Project and a 4,156m aircore and 429m RC drill program at the Pinnacles GT6 prospect. The Wallbrook RC program comprised 18 holes drilled to a maximum depth of 300m, across 4 prospect areas. The drill holes tested high priority drill targets, and exploration technique methodology. The Pinnacles GT6 aircore program consisted of 53 holes, along 7 drill lines 150m apart, with 50m drill centres along the lines. They were drilled to top of fresh rock with samples subjected to multi-element geochemical analysis and geological / alteration mapping. Three RC drill holes were drilled to follow up the previous 12m @ 3.27g/t Au result. The 58km2 Wallbrook tenement package is considered highly prospective for the discovery of significant gold mineralisation. Historical data review was completed with various data sets being assembled. These data sets were brought into a central database system for more efficient management and interpretation. The main sites of gold mineralisation in the district are on the margins of porphyritic intrusions. Mineralisation is known to occur within the margins of these porphyries themselves, and also developed within the intruded sheared and altered greenstone sequence lithologies and as mineralised quartz vein stockworks. Exploration activities were developed to target these styles of mineralisation. | |
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