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Nexus Minerals Ltd.
Summary
| Project: | Pinnacles | |
|---|---|---|
| Deposit: | Pinnacles East | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/9/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-9-2016: Nexus Minerals Ltd. announces an Exploration/Drilling Update report for its Pinnacles East deposit at the Pinnacles project. Drilling results incl. 1.1m @ 2.19g/t Au from 369m. Nexus Minerals Limited (ASX: NXM) (Nexus or the Company) is pleased | |
| Resources: | (Resource, I+I): 413000t @ 2.1g/t Au for 28000oz Au contained | |
| CP/QP: | [Overall Report]: Andy Tudor (Internal) | |
| ABSTRACT: | Nexus Minerals Limited (ASX: NXM) (Nexus or the Company) is pleased to advise it has received results from the Diamond and RC drill campaign at the Pinnacles East gold resource, within the Pinnacles JV project, located in the Eastern Goldfields, 120km northeast of Kalgoorlie (Fig. 1). The Pinnacles East gold resource extension program tested for depth and strike extensions to the south of, and beneath, high grade gold mineralisation identified at Pinnacles East to date. The 6 hole 2,241m program was a combination of RC drilling, and RC drill pre-collars with Diamond core tails. The deeper holes under the Pinnacles East resource (which commences at surface) were targeted to intercept mineralisation at approximately 350m vertical depth, 100m below previous mineralised intercepts, which included 8m @ 7.7g/t Au, 7m @ 5.9g/t Au, 3m @ 9.8g/t Au and 4m @ 7.6g/t Au. The drill program intersected the structure hosting the mineralisation at the depths interpreted, with the geological package of volcaniclastic sandstones, shales and conglomerates also intersected. The Pinnacles gold mineralisation is typically associated with an increase in quartz veining, chlorite alteration and increase in sulphide content. Whilst all of these geological factors were observed, the drill results returned only narrow and low grade intersections of mineralisation in the two holes (NMPDD1 & NMPDD2) 100m underneath previous significant intercepts. The other two diamond drill holes (NMPDD3 & NMPDD4) and the two shallower RC drill holes (NMPRC12 & NMPRC13) returned no significant mineralisation (Table 1). | |
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