Nexus Minerals Limited has updated its exploration progress with significant gold resources at Wallbrook and Pinnacles projects, alongside promising new discoveries and ongoing drilling campaigns.
- Wallbrook Gold Project hosts 300,000+ ounce Crusader-Templar resource
- New gold discoveries at Payns, Godfrey, and Clement prospects
- Pinnacles JV offers high-grade underground gold resource of 78,000 ounces
- Ongoing aircore drilling and regional exploration advancing rapidly
- Company well funded with approximately A$12 million cash on hand
Nexus Minerals Strengthens Gold Portfolio
Nexus Minerals Limited (ASX: NXM) has released a replacement presentation for the RIU Sydney Resources Conference, highlighting substantial progress across its Western Australian gold projects and critical minerals exploration in New South Wales. The company’s Wallbrook Gold Project remains a cornerstone asset, boasting a combined Crusader-Templar mineral resource exceeding 300,000 ounces of gold, supported by a recent scoping study that underscores the potential for a low-risk, high-margin open pit operation.
The Crusader-Templar Prospect, with a 1.6km mineralised corridor, features an indicated resource of 140,000 ounces at 1.8g/t gold and an inferred resource of 164,000 ounces at 1.6g/t. Metallurgical testing has confirmed excellent gold recoveries, reinforcing the project's economic viability. The scoping study envisions a multi-pit mining campaign over 28 months, generating an undiscounted cash surplus of A$67 million at a gold price of A$3,500 per ounce.
Emerging Discoveries and Exploration Momentum
The company is actively advancing drill programs to delineate resources at these prospects, with plans for reverse circulation (RC) drilling designed to expand the mineral inventory and refine project economics. The Branches Prospect is also poised for a resource drill-out, further underpinning the project's growth trajectory.
Pinnacles JV: High-Grade Underground Potential
Complementing its open-pit focus at Wallbrook, Nexus’s Pinnacles Joint Venture with Northern Star (NXM 90%, NST 10%) offers a high-grade underground gold opportunity. The combined JORC 2012 Mineral Resource Estimate stands at 609,000 tonnes at 4.0g/t gold for 78,000 ounces, with underground resources alone accounting for 450,000 tonnes at 4.6g/t gold. Ongoing mine development studies are exploring underground mining options, with ore to be processed at Northern Star’s nearby Carosue Dam mill under an existing ore sale agreement.
Both projects benefit from granted mining leases and completed environmental and heritage surveys, positioning Nexus well for advancing towards mining proposals and operational permits.
Expanding Horizons in Critical Minerals
In addition to gold, Nexus is leveraging a first-mover advantage in New South Wales with a substantial 15,000 square kilometre tenure targeting critical minerals such as lithium, caesium, tantalum, copper, and tin. The company’s exploration strategy focuses on highly prospective Silurian granites within the Wagga-Omeo Zone, with regional geophysical datasets completed and ground reconnaissance underway. This diversification aligns Nexus with broader market trends emphasizing battery metals and critical mineral supply chains.
Financially, Nexus is well positioned with approximately A$12 million in cash as of early May 2025, supporting ongoing exploration and development activities across its portfolio.
Bottom Line?
With robust resources and fresh discoveries, Nexus Minerals is poised for a pivotal year as it advances towards mining and expands its critical minerals footprint.
Questions in the middle?
- How will upcoming drilling results at Payns and Godfrey prospects impact resource estimates?
- What timelines are anticipated for mining proposals and operational permits at Wallbrook and Pinnacles?
- How might Nexus’s critical minerals exploration in NSW influence its strategic positioning and valuation?