Nexus Minerals Unveils High-Grade Gold Continuity at Payns Prospect

Confirming a Growing Gold Footprint

Nexus Minerals Limited (ASX, NXM) has delivered a compelling update from its Payns Prospect, part of the Wallbrook Gold Project in Western Australia. The company recently completed a 5,172-metre Reverse Circulation (RC) drilling campaign across 46 holes, successfully confirming a substantial gold mineralised zone spanning approximately 900 by 750 metres. This footprint was initially identified through earlier aircore drilling, and the new results provide a more detailed picture of the prospect’s potential.

Remarkably, 45 of the 46 drill holes intersected gold mineralisation, underscoring the broad continuity and robustness of the system. Among the standout results are high-grade intercepts such as 8 metres at 7.99 grams per tonne (g/t) gold within a broader 24-metre interval averaging 2.80 g/t from a depth of 40 metres. These figures highlight the presence of a higher-grade core within the mineralised envelope, a promising sign for future resource development.

Geological Insights and Strategic Location

The geology at Payns is characterised by felsic to intermediate volcanic and volcaniclastic units intruded by hematite-altered porphyries, with mineralisation associated with quartz-goethite veining near the redox boundary. The drilling intersected fresh rock starting around 45 metres downhole, indicating a moderate weathering profile. The mineralised zones show strong spatial continuity and are open both along strike and down plunge, suggesting significant exploration upside remains.

Strategically, Payns is situated just 4 kilometres northwest of Nexus’s Crusader-Templar resource, which holds over 300,000 ounces of gold, and is in close proximity to Northern Star Resources’ active Porphyry and Million Dollar gold mines. This location within a prolific gold corridor enhances the prospect’s value and potential for integration into a larger mining operation.

Next Steps and Market Implications

The company is currently processing one metre split samples from the RC program, with assay results expected by the end of August 2025. These finer-scale results will enable a more precise delineation of the higher-grade zones and support refinement of the geological model. Nexus plans to follow up with targeted infill and extensional drilling to further define and expand the mineralised envelope.

Managing Director Andy Tudor emphasised the significance of these results, noting the broad continuity and encouraging high-grade component of the mineralisation. The systematic exploration approach at Payns aligns with Nexus’s strategy to efficiently build near-surface gold resources, potentially adding meaningful ounces to the Wallbrook project portfolio.

For investors and market watchers, these results reinforce Nexus Minerals’ position as an emerging player in the Eastern Goldfields, with a growing footprint near established mining operations. The pending one metre assays and subsequent drilling campaigns will be key catalysts to watch as the company advances its exploration agenda.