Nexus Minerals Ltd (ASX:NXM) is encouraged by results from its recently completed diamond drilling program at the Bethanga Porphyry Copper-Gold Project, 260 kilometres northeast of Melbourne in Victoria.
The program, which wrapped up in April, consisted of three deep diamond drill holes across 1,516 metres and targeted magnetic and geochemical zones identified in a previous porphyry copper-gold fertility study.
Consistent with geology
Geochemical and hyperspectral results from the drilling have been consistent with the presence of magmatic-hydrothermal fluids typical of such systems.
Notable element concentrations included gold at 3.23 parts per million (ppm), copper (474 ppm), arsenic (9,840 ppm), bismuth (36.3 ppm) and zinc (1,900 ppm).
The highest metal values were associated with breccias cemented by a quartz-carbonate-sulphide matrix and localized argillic alteration, indicating metal enrichment in the upper portions of a porphyry copper-gold system.
Geochemical analysis corroborated previous surface rock chip sampling, revealing a mineralised association involving elements such as arsenic, sulphur, silver, bismuth, antimony, cadmium, gold, copper, tungsten, zinc and indium.
The anomalies detected are consistent with metal enrichment in the upper portions of a porphyry copper-gold system and epithermal vein systems.
Nexus is currently reviewing the project and assessing an appropriate exploration strategy.
The company remains active across its project portfolio, including the Critical Minerals Project in New South Wales and the Wallbrook Project in Western Australia, where drill programs are ongoing.
Further insight gleaned
Nexus managing director Andy Tudor said: “Receiving results marks the completion of the diamond drilling program at Bethanga Project.
“While the program did not see a direct hit on the core of a copper-gold porphyry system, the results have continued to demonstrate fertility and indicate the potential presence of such a system.
“The program has offered further insight into the project and presents an opportunity to continue vectoring towards the potential potassic core where highest metal grades typically occur.
“The exploration team will continue to review the results and exploration strategy on the project.”
About Nexus
Nexus Minerals is dedicated to exploring gold deposits within its tenement package in the Eastern Goldfields of Western Australia.
The company has expanded its portfolio with the addition of the Bethanga Porphyry Copper-Gold Project in Victoria and more than 15,000 square kilometres of prospective tenure in New South Wales.
Nexus continues to invest in new exploration techniques to refine targeting approaches for current and future tenements.