Wallbrook Aircore Drilling Yields High-Grade Gold Assays Across 11,691 Metres
Nexus Minerals reports breakthrough regional exploration success at its Wallbrook Gold Project with two new significant gold discoveries and expanded mineralisation footprints, while progressing mine studies and permit applications.
- Two new significant gold discoveries at Wallbrook: Payns and Godfrey prospects
- Expanded mineralised footprint at Clement prospect to 650m x 250m
- Completed 313-hole aircore drilling program returning broad, high-grade near-surface gold assays
- Crusader-Templar deposit studies support multi-stage open pit operation; permit applications underway
- Pinnacles JV Gold Project mine study updated; Mine Proposal and Closure Plan submitted to JV committee
Exploration Breakthroughs at Wallbrook
Nexus Minerals Limited (ASX: NXM) has delivered a compelling update from its Wallbrook Gold Project in Western Australia's Eastern Goldfields, reporting exceptional results from a recent 313-hole aircore drilling campaign. The program, spanning 11,691 metres, has yielded two new significant gold discoveries, Payns and Godfrey prospects, alongside an expanded footprint at the Clement prospect, reinforcing Wallbrook's status as a burgeoning gold camp.
The Payns Prospect stands out with high-grade gold intercepts over a substantial 900m by 750m area, including standout assays such as 4 metres at 7.12 g/t Au from 8 metres depth. Similarly, the Godfrey Prospect reveals a 1,200m by 100m gold system with encouraging grades and widths, drawing geological parallels to the nearby Crusader-Templar deposit. Meanwhile, the Clement Prospect's mineralised zone has grown to 650m by 250m, suggesting potential extensions to the Northern Star-operated Wallbrook Gold Mine geology.
Advancing Crusader-Templar and Pinnacles Projects
Beyond exploration, Nexus is advancing technical studies and operational planning at the Crusader-Templar deposit. Recent work supports the feasibility of a multi-stage, multi-pit open pit operation. The company has initiated preparation of a Mine Proposal and Closure Plan, with permit applications underway, while engaging potential operational and toll treatment partners to optimise project development.
At the Pinnacles JV Gold Project, a joint venture with Northern Star Resources, Nexus completed an updated underground mine study. The project boasts a JORC 2012 Combined Mineral Resource Estimate of 609,000 tonnes at 4.0 g/t Au for 78,000 ounces, split between open pit and underground resources. The Mine Proposal and Closure Plan has been submitted to the JV committee, marking a key step towards regulatory approval.
Expanding Footprint and Innovation in NSW and Beyond
Nexus has also secured an extensive 15,000 km² exploration tenure package in New South Wales targeting gold, copper, and critical minerals. Leveraging advanced geophysical data and on-ground exploration, the company is positioning itself to unlock new mineral opportunities in this underexplored region.
Complementing its exploration efforts, Nexus continues to invest in research and development programs focused on innovative rock characterisation techniques. These initiatives aim to enhance targeting accuracy and efficiency across its portfolio, potentially accelerating discovery timelines.
Financial Position and Outlook
As of 31 March 2025, Nexus Minerals reported a cash balance of $5.03 million, having spent $618,000 on exploration activities during the quarter. The company plans to continue regional aircore drilling at Wallbrook, progress Crusader-Templar permit submissions, and advance exploration in NSW in the coming quarter.
With multiple projects advancing in tandem and a strong cash position, Nexus Minerals is well placed to build on its recent successes and deliver value to shareholders as it moves towards potential resource development and production phases.
Bottom Line?
Nexus Minerals’ latest discoveries and project advancements set the stage for a pivotal growth phase, with upcoming drilling and permit milestones poised to shape its market trajectory.
Questions in the middle?
- How will upcoming RC drilling at Payns and Godfrey prospects refine resource estimates and project economics?
- What timelines and terms are expected from operational and toll treatment partnerships for Crusader-Templar?
- How might exploration progress in NSW influence Nexus’s strategic positioning in critical minerals beyond gold?
