Nexus Minerals has reported significant new high-grade gold discoveries at its Wallbrook Gold Project, alongside progress in permitting its Crusader-Templar deposit for mining operations.
- 5,172m RC drilling confirms large high-grade gold zones at Payns Prospect
- Clement and Godfrey prospects show promising stacked and extensive mineralisation
- 10,000m regional aircore drilling underway to test extensions and new targets
- Crusader-Templar mine proposal and closure plan submitted, approvals expected December 2025
- Company holds $9.6 million cash with $936,000 spent on exploration this quarter
Strong Exploration Momentum at Wallbrook
Nexus Minerals Limited has delivered a robust update on its Wallbrook Gold Project, revealing significant progress in its ongoing exploration efforts. The recent 5,172-metre reverse circulation (RC) drilling program at the Payns Prospect has confirmed a substantial new gold discovery, with high-grade mineralised zones embedded within a broader mineralised envelope spanning approximately 900 by 750 metres. Noteworthy assay results include intercepts such as 5 metres at 8.10 grams per tonne (g/t) gold, including a standout 1 metre at 30.05 g/t, underscoring the prospect’s emerging potential.
Complementing Payns, the Clement Prospect has yielded encouraging results from a 1,274-metre RC drill program, intersecting stacked high-grade gold lodes from surface and extending mineralisation at depth. Highlights include 20 metres at 4.06 g/t gold within a broader 36-metre interval averaging 2.65 g/t. Similarly, the Godfrey Prospect, located just east of Clement, has confirmed a northwest-striking gold system over 1.2 kilometres, with mineralisation extending to surface and initial assays supporting the prospect’s scale.
Expanding Regional Targets and Drilling Programs
Building on these successes, Nexus has initiated a 10,000-metre regional aircore drilling program aimed at testing extensions to the Branches Prospect and new targets such as MC3.3. This program is expected to complete by mid-November, with assay results anticipated to further refine the company’s exploration model and identify additional mineralised zones.
Advancing Permitting and Development Plans
On the development front, Nexus has submitted the mine proposal, closure plan, and all necessary operational permits for the Crusader-Templar gold deposit to relevant authorities, with final approvals expected in the December quarter of 2025. Discussions with potential operational and toll treatment partners are well advanced, signaling the company’s intent to transition from exploration to production. The Crusader-Templar deposit, located near the newly discovered prospects, benefits from a multi-stage open pit operation concept supported by recent technical studies.
Broader Portfolio and Financial Position
Beyond Wallbrook, Nexus continues to progress its Pinnacles Joint Venture Gold Project with Northern Star Resources, focusing on mine study updates and permitting. The company also maintains a substantial exploration footprint in New South Wales, targeting gold, copper, and critical minerals, alongside a research and development program aimed at enhancing exploration techniques through innovative rock characterisation methods.
Financially, Nexus ended the quarter with $9.6 million in cash and equivalents, having invested $936,000 in exploration activities. This solid cash position supports ongoing drilling and permitting efforts as the company seeks to unlock value from its extensive tenement holdings in Western Australia and beyond.
Bottom Line?
Nexus Minerals’ latest drilling success and permitting progress position Wallbrook as a compelling gold exploration and development story to watch closely.
Questions in the middle?
- How will upcoming assay results from the MC4.1 and regional aircore programs impact the overall resource potential?
- What are the timelines and key hurdles remaining for Crusader-Templar’s final mining approvals?
- How might Nexus’ R&D initiatives translate into competitive advantages in exploration efficiency?