Wallbrook Aircore Drilling Yields Multiple Intercepts Above 6 g/t Gold

Exploration Breakthrough at Wallbrook

Nexus Minerals Limited (ASX: NXM) has delivered a compelling update from its Wallbrook Gold Project in Western Australia's Eastern Goldfields, reporting two new significant gold discoveries, Payns and Godfrey prospects, following a comprehensive aircore drilling program. The 284-hole, 9,811-metre campaign returned broad and high-grade near-surface gold intercepts, reinforcing the project's prospectivity and the company's exploration strategy focused on shallow, high-quality gold targets.

At the Payns Prospect, located just 4km northwest of the Crusader-Templar deposit, drilling revealed multiple high-grade intercepts including standout results such as 4m at 7.12 g/t Au from 8 metres and 4m at 6.85 g/t Au from 28 metres. These results, combined with earlier drilling at the adjacent MC5.1 target, outline a mineralised footprint approximately 750 metres wide with significant potential for strike extension.

Godfrey Prospect Emerges as a Major Target

The Godfrey Prospect, situated 600 metres east of Crusader-Templar, exhibited a substantial 1,200 by 100-metre gold system with consistent mineralisation. Highlights include 4m at 4.02 g/t Au within a broader 15m interval averaging 1.30 g/t Au. The geological and mineralisation characteristics closely mirror those of the nearby Crusader-Templar deposit, suggesting a robust exploration target warranting further reverse circulation drilling.

Expanding Regional Targets and Technical Validation

Additional targets such as MC2.1 and MC1.5 also delivered encouraging results, with MC1.5 returning a remarkable 4m intercept at 10.95 g/t Au. These findings underscore the fertile nature of the Wallbrook region and the effectiveness of Nexus’s geophysical targeting and aircore drilling approach.

Complementing exploration success, Nexus has advanced key technical studies on the Crusader-Templar deposit, confirming the viability of a simple open pit mining operation. Metallurgical test work indicates high gold recoveries with favourable ore characteristics, while geotechnical and environmental assessments show manageable operational parameters. Discussions with potential operational and toll treatment partners are ongoing, reflecting progress towards project development.

Broader Portfolio and Financial Position

Beyond Wallbrook, Nexus continues to develop its Pinnacles JV Gold Project with Northern Star Resources, updating underground mine studies and preparing regulatory submissions. The company also holds a substantial 15,000 km² exploration package in New South Wales targeting gold, copper, and critical minerals, with on-ground activities planned for early 2025.

Financially, Nexus ended the quarter with $5.7 million in cash, supporting ongoing exploration and technical programs. Exploration expenditure for the quarter was $792,000, reflecting a disciplined approach to advancing multiple projects simultaneously.

Looking Ahead

With follow-up aircore drilling scheduled to commence in February 2025, Nexus aims to expand the newly identified mineralised zones and further delineate the resource potential at Wallbrook. The combination of exploration momentum, technical validation, and a solid cash position positions Nexus Minerals as a company to watch in the Eastern Goldfields region.