Nexus Starts 11,000m Aircore Drilling Targeting Payns, MC2.1, and MC5.3 Prospects

Exploration Momentum Builds at Wallbrook

Nexus Minerals Limited (ASX: NXM) has commenced a significant 11,000-metre aircore drilling program at its Wallbrook Gold Project, located 140 kilometres northeast of Kalgoorlie, Western Australia. This latest campaign aims to follow up on the Payns Prospect, a material new gold discovery made during previous drilling in 2024, while also testing two additional targets, MC2.1 and MC5.3.

The Wallbrook Project sits within a highly prospective mineralised corridor that hosts several established gold operations, including Northern Star Resources’ Porphyry and Million Dollar Gold Mines. The MC5.3 target, newly prioritised in this program, lies within this same corridor, offering a compelling opportunity to uncover further near-surface gold mineralisation.

Strategic Targeting and Geological Context

The drilling program is designed to expand the mineralised footprints of the Payns Prospect and MC2.1, both of which have previously returned encouraging intercepts with strong gold grades and widths. Payns, in particular, is a broad target approximately 750 metres wide with high-grade zones associated with felsic intrusives and characteristic regional alteration signatures.

MC2.1 lies adjacent to Northern Star’s Wallbrook Gold Mine and Nexus’s Crusader-Templar Deposit, suggesting potential extensions of known mineralisation. Meanwhile, MC5.3 is situated along the projected long axis of the Porphyry Granite dome and is bounded by northeast-southwest faults, typical structural features controlling gold mineralisation in the region.

Efficient Resource Building and Upcoming Results

Nexus’s exploration strategy focuses on near-surface, shallow targets that can be efficiently drilled and potentially fast-tracked into resource development. The current aircore program, scheduled to run through February and March 2025, is expected to deliver assay results in March and April, which will be critical in refining the geological model and guiding subsequent reverse circulation (RC) drilling campaigns.

Managing Director Andy Tudor expressed optimism about the program, highlighting the company’s systematic approach and the exceptional location of the Wallbrook Project within a prolific gold corridor. He emphasised the potential for material discoveries and the busy exploration calendar ahead for Nexus in 2025.

Regional Significance and Market Position

The Wallbrook Gold Project’s proximity to Northern Star’s multi-million ounce Carosue Dam operations and other underground mines underscores its strategic importance. Nexus’s consolidation of tenements and ongoing exploration efforts position it well to capitalize on the region’s rich gold endowment. The company’s broader portfolio, including the Pinnacles Gold Project and new tenure in New South Wales and Victoria, complements its growth ambitions.

As Nexus advances its drilling program, investors and analysts will be watching closely for assay results that could validate the scale and grade potential of these targets, potentially reshaping the company’s resource base and market valuation.