Nexus Minerals Ltd (ASX:NXM) welcomes assay results from recently completed diamond drilling at the Crusader-Templar gold deposit within the Wallbrook Gold Project in Western Australia, confirming shallow, high-grade gold mineralisation.
Results from the 1,473 metres of diamond drilling include 1.7 metres at 23.50 g/t gold within 11 metres at 4.04 g/t from 24 metres and 3.6 metres at 6.27 g/t within 4.6 metres at 4.93 g/t from 98.4 metres.
These confirm results received from previous RC drill holes and demonstrate the mineralised lodes were intercepted as planned.
This provides further validation of the modelling work completed in the most recent resource update and continues to de-risk the orebody.
"Reinforce confidence"
Nexus managing director Andy Tudor said, “These diamond assay results continue to reinforce our confidence in the Crusader-Templar Gold Deposit and the opportunity it presents.
“Intercepting the orebody as planned and returning the shallow high-grade gold assay results that mirror the previous RC drill programs, is a huge vote of confidence in the recent combined mineral resource update and the technical team’s understanding of the deposit.”
Nexus notes that, critically, these holes did not target the highest grade portions of the orebody, instead targeting areas where grade and widths that would best reflect mined ore.
Mine studies provide further insight
The diamond drilling program was designed to complement ongoing mine studies — following on from the successful initial scoping study — providing further insight on metallurgical, geotechnical, waste rock characteristics and dewatering parameters.
Various mining contractors and service providers continue to be engaged to increase accuracy of costs and explore low-risk operational management structures. Specific studies undertaken as part of the diamond program are now complete.
These studies, along with the positive drilling results, allow Nexus to update its scoping study, which is now underway.
“With detailed mine study components now completed, we will update the scoping study and continue to de-risk the project,” said Tudor.
Crusader-Templar scoping study pit designs with 2024 diamond hole locations.
Drilling now
“In addition to the ongoing mine studies, the aircore drill rig is in the midst of a 10,000-metre regional exploration program which seeks to materially build on the success at Crusader-Templar Gold Deposit through additional shallow gold discoveries across the broader Wallbrook Gold Project.
“We look forward to sharing updates as they become available during an exciting time on the project.”
The company says it continues to engage with a variety of mining contractors and service providers to establish more accurate costings and low-risk management structures.