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Nexus Minerals Ltd.
Summary
| Project: | Pinnacles | |
|---|---|---|
| Deposit: | Pinnacles East | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/27/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-2-2020: Nexus Minerals Ltd. announces a Resource Estimation report for its Pinnacles East deposit at the Pinnacles project. Updated mineral resource estimate at project. The Board of Nexus Minerals Limited (ASX: NXM) (Nexus or the Company) is pleased t | |
| Resources: | (Resource, I+I): 609Kt @ 4.0g/t Au for 78Koz Au contained | |
| CP/QP: | [Resources]: Mark Drabble (Optiro Pty Ltd.) | |
| ABSTRACT: | The Board of Nexus Minerals Limited (ASX: NXM) (Nexus or the Company) is pleased to announce the successful completion of a mineral resource upgrade on the Pinnacles East gold resource area, within the Pinnacles JV gold project, located in the Eastern Goldfields, 120km northeast of Kalgoorlie. The updated JORC 2012 combined mineral resource of 609,000t @ 4.0g/t Au for 78,000 ounces is in line with the Company’s previous estimate of 550,000t @ 4.6g/t Au for 82,000 ounces (see ASX announcement 13/10/2016). The 22 additional drill holes, drilled in December 2016 (see ASX announcement 7/2/2017), were targeting zones within the previous resource outline where a greater drill density was required to convert the existing inferred ounces to indicated status. This was achieved with the new total estimate containing 53% Indicated Mineral Resource. Importantly the resource from surface down to 200m contains >90% Indicated Mineral Resources. The additional drill hole data has also allowed for a more selective interpretation of the geological controls on the mineralisation. | |
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