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Nexus Minerals Ltd.
Summary
| Project: | Wallbrook | |
|---|---|---|
| Deposit: | Wallbrook | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/6/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 6-9-2018: Nexus Minerals Ltd. announces an Exploration/Drilling Update report for its Wallbrook deposit at the Wallbrook project. Drilling results incl. 3m @ 19.36g/t Au from 56m. Eastern Goldfields gold explorer, Nexus Minerals Limited (ASX: NXM) (Nexus | |
| Resources: | x | |
| 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 final results of its 3,992m reverse circulation (RC) program at the Wallbrook Gold Project. The Wallbrook RC program comprised 18 holes drilled to a maximum depth of 300m, across three prospect areas. The drill holes successfully tested high priority drill targets, and exploration technique methodology. Gold enrichment encountered in this first pass drill program provided a broad low-grade mineralised halo, as identified by 4m composite sampling of all drill holes (>0.1g/t Au). Drilling by Nexus returned mineralised intervals including 64m @ 0.32g/t Au, 48m @ 0.36g/t Au, 32m @ 0.43g/t Au and 40m @ 0.24g/t Au. Within these broad low-grade zones narrower higher-grade zones were identified (Figure 3) and these zones were re-sampled using 1m intervals. The higher-grade mineralised zones, often exhibiting brickred coloured hematitic alteration, have returned results including: Gold mineralisation in the Wallbrook area is known to be closely associated with quartz +/- pyrite and brick-red coloured hematitic alteration of high level porphyry intrusives and their volcanic/ sedimentary host rocks. Results from Nexus drilling show that the prospective rocks are being mapped quite accurately with the use of gravity and IP geophysics. These prospective altered rocks occur over an extensive corridor striking 10’s of kilometres with widths of up to 1km within the Nexus tenement package and are widely gold mineralised within this zone. This now provides ‘proof of concept’ and focus for ongoing exploration planning throughout the complete 60km2 tenement package. Drilling intersected the altered intrusive and volcanic rocks down to 300m depth across a width of approximately 800m and contain broad zones of prospective brick-red hematitic hydrothermal alteration and associated elevated mineralisation. Targeted exploration of the project area will utilize surface geology and geochemistry, in conjunction with gravity / IP survey results and historical aeromagnetic data, to guide exploration drill programs. | |
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