Nexus Minerals (ASX: NXM) has made headlines with an exceptional high-grade gold discovery at the Payns Prospect, part of its Wallbrook Gold Project in Western Australia. Recent assays have revealed gold grades reaching an impressive 30.05 g/t, significantly bolstering the company’s standing in the Eastern Goldfields region. This discovery not only highlights the potential of the Payns Prospect but also sets the stage for continued exploration success.
One-Meter Results Confirm Significant Grade Uplift at Payns Prospect
The latest drilling results from Nexus Minerals’ extensive 5,172-meter, 46-hole reverse circulation (RC) program at Payns Prospect have shown a remarkable uplift in gold grades compared to previously reported four-meter composite results.
Standout Intercepts
The standout intercepts from the drilling program include:
5m @ 8.10 g/t Au, including 1m @ 30.05 g/t Au (within 15m @ 2.94 g/t Au) from 39m
8m @ 4.19 g/t Au (within 15m @ 2.37 g/t Au) from 37m
7m @ 2.92 g/t Au, including 1m @ 10.55 g/t Au (within 16m @ 1.49 g/t Au) from 72m
6m @ 2.76 g/t Au (within 12m @ 1.46 g/t Au) from 28m
1m @ 13.81 g/t Au (within 2m @ 8.38 g/t Au) from 60m
4m @ 3.35 g/t Au (within 15m @ 1.02 g/t Au) from 39m
These results confirm a strong spatial continuity of mineralization and highlight the presence of high-grade gold zones within a broader mineralized envelope.
Nexus Managing Director Andy Tudor remarked, “Payns Prospect continues to demonstrate growing potential with a compelling grade profile. These exceptional one-meter results highlight broad continuity of mineralization across the prospect with high-grade gold zones within.”
Expanding Mineralized Footprint
The mineralized footprint at Payns currently spans an impressive area of 900m x 750m and remains open for lateral extensions and down plunge of mineralized zones. This expanding zone is strategically located just 4km northwest of Nexus’ Crusader-Templar combined Mineral Resource, which boasts 304,000 ounces of gold. Notably, the Payns Prospect is situated only 1km southeast of the Porphyry and Million Dollar gold mines, both of which are currently in production by Northern Star Resources. This proximity enhances the strategic value of Nexus’ discoveries.
Understanding the Gold Mineralization Controls
Drilling at Payns has revealed that gold grades correlate with several geological factors:
Increased occurrence of quartz and goethite veining in oxide material
Quartz-sulphide (pyrite ± tourmaline) veining in fresh rock
Intensity of sericite, rutile, tourmaline, and albite alteration, which is characteristic of the regional gold signature
Very high grades noted near hematized felsic intrusives in the fresh rock
These geological indicators provide valuable targeting information for future exploration efforts across the Wallbrook project area. Additionally, the presence of caesium and lithium grades in similar geological settings can enhance overall project potential.
Regional Exploration Program Now Underway
Building on its recent success, Nexus has initiated an additional 6,000-meter RC drilling program targeting three promising prospects:
Clement Prospect: Located immediately north of the Wallbrook Gold Mine (Northern Star), with previous results including 8m @ 2.94 g/t Au (within 28m @ 1.13 g/t Au) from 44 meters.
Godfrey Prospect: Situated 600 meters east of the Crusader-Templar deposit, with previous results of 4m @ 4.02 g/t Au (within 15m @ 1.30 g/t Au) from 24 meters.
Target MC4.1: Located on the eastern side of the Wallbrook Gold Project, with gold mineralization mapped over 1.7km of strike, featuring previous results of 23m @ 2.52 g/t Au, including 8m @ 5.41 g/t Au.
This extensive program is expected to be completed in early October, with results to follow. It aims to assess the continuity, geometry, and tenor of the emerging mineralized gold zones at each target. The increased exploration activity in the region is also reflected in other companies, such as S2 Resources, which have launched major drilling campaigns across Australia.
What is Reverse Circulation (RC) Drilling?
Reverse Circulation drilling is a widely used technique in mineral exploration where compressed air forces samples up an inner tube to the surface. This method provides high-quality, uncontaminated samples for analysis and is particularly effective for gold exploration projects where contamination must be minimized.
RC drilling is faster and more cost-effective than diamond drilling, making it ideal for exploration programs that require multiple holes to establish mineral continuity. The technique allows for real-time geological assessment through the collection of rock chips, which can be immediately logged and sampled. For investors, RC drilling programs indicate that a company is at an advanced exploration stage, moving beyond initial reconnaissance into more targeted resource definition work.
Investment Potential: Building a Significant Gold Portfolio
Nexus Minerals is methodically building its gold resource base at the Wallbrook project through a systematic approach to exploration. The company’s strategy focuses on the efficient discovery of near-surface gold mineralization, which could potentially be developed with lower capital costs than deeper deposits.
The Wallbrook Gold Project is strategically located in a well-established gold mining region, just 140km northeast of Kalgoorlie, providing excellent access to infrastructure and processing facilities. The project’s proximity to active mining operations by major gold producer Northern Star Resources adds to its strategic appeal.
Current Highlights of Nexus’ Gold Portfolio
Crusader-Templar combined Mineral Resource: 304,000 oz of gold
Expanding footprint at Payns Prospect: 900m x 750m (open in multiple directions)
Multiple promising targets with high-grade intercepts across the project
Why Investors Should Follow Nexus Minerals
Nexus Minerals represents an attractive opportunity for investors interested in gold exploration companies with near-term growth potential:
Strategic Location: The Wallbrook Gold Project is situated in the prolific Eastern Goldfields of Western Australia, adjacent to operating mines.
Expanding Resource Base: The company continues to grow its gold resources through systematic exploration, with the Crusader-Templar deposit providing an initial foundation.
High-Grade Discoveries: Recent results from Payns Prospect demonstrate the potential for significant high-grade gold discovery, with assays up to 30.05 g/t.
Methodical Approach: Nexus employs a systematic, staged exploration strategy that maximizes the chance of success while managing exploration risk.
Active Exploration Program: With 6,000 meters of drilling now underway at multiple targets, investors can expect a steady flow of news over the coming months.
As Nexus continues to advance its exploration efforts at Wallbrook, the company is well-positioned to potentially add substantial value through resource growth and new discoveries in one of Australia’s premier gold mining districts. Additionally, the possibility of early gold production from stockpiles could provide cash flow to fund further exploration activities.
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