15m at 5.21g/t Au at Clement Boosts Wallbrook’s Resource Potential

Strong Assay Results Reinforce Wallbrook’s Potential

Nexus Minerals Limited (ASX, NXM) has delivered a significant update on its Wallbrook Gold Project in Western Australia, revealing final one-metre reverse circulation (RC) assay results from its Clement and Godfrey prospects. The results confirm a robust and near-surface gold mineralisation system, with Clement returning a standout intercept of 15 metres at 5.21 grams per tonne (g/t) gold, including a high-grade 3-metre section at 12.5 g/t. These findings underscore the presence of stacked high-grade lodes extending from surface to approximately 150 metres depth, highlighting a material opportunity for resource growth adjacent to the Crusader-Templar deposit.

At Godfrey, located about 600 metres east of Crusader-Templar, drilling has delineated a continuous northwest-striking gold system extending over roughly 1.2 kilometres. The prospect exhibits higher-grade zones within a broader mineralised corridor, with notable intercepts such as 5 metres at 1.81 g/t gold, including a 1-metre section at 5.89 g/t. These results build on earlier aircore drilling successes and reinforce the prospect’s upside potential.

Advancing Towards Operational Readiness

Alongside exploration progress, Nexus has secured approval from the Department of Mines, Petroleum and Energy (DMPE) for the Crusader-Templar Mine Development and Closure Plan (MDCP). This regulatory milestone is critical for advancing the project towards construction and mining activities. Final operational permits are anticipated in the December quarter of 2025, positioning the project on track for site mobilisation.

Discussions with potential operational and toll treatment partners are ongoing, reflecting Nexus’s strategic approach to optimise processing arrangements. The company is actively pursuing agreements that will enable ore treatment and haulage, essential components for project execution. The recent completion of a 10,073-metre regional aircore drilling program targeting new areas such as MC3.3 and extensions at the Branches Prospect further demonstrates the company’s commitment to expanding its resource base, with assay results expected shortly.

Context and Outlook

The Wallbrook Gold Project benefits from its proximity to Northern Star’s established Wallbrook Gold Mine and the multi-million ounce Carosue Dam operations, situating Nexus in a highly prospective geological corridor. The company’s exploration and development efforts are supported by a comprehensive scoping study that envisages a multi-pit open pit mining campaign producing approximately 80,000 ounces of gold over 28 months. While the study is preliminary and includes inferred resources, it projects robust economics with an undiscounted cash surplus of $67 million at a gold price of $3,500 per ounce.

However, Nexus acknowledges the need for further evaluation, funding, and finalisation of operational contracts to realise the project’s full potential. The company’s transparent communication of these factors provides investors with a balanced view of the opportunities and challenges ahead.