Nelson Resources Extends High-Grade Veins at Gold Point and Secures Yarri Mining Leases

New Vein Styles Expand Gold Point’s Potential

Nelson Resources (ASX:NES) has unveiled a fresh chapter in its Gold Point Project in Nevada, revealing high-grade intrusion-hosted sheeted veins that push the known mineralised footprint beyond historic workings. Rock chip samples from the Sylvania Intrusive Complex returned assays as high as 15.1g/t gold and a striking 357g/t silver, highlighting a previously unrecognised style of gold-rich veins in the region.

This discovery not only broadens the aerial extent of mineralisation but also confirms multiple styles, including skarn mineralisation near intrusive contacts, with assays up to 1.73g/t gold and 139g/t silver. These results underscore the complex magmatic-hydrothermal system at play, which extends well beyond the old mines that historically produced high-grade gold-silver veins over a 2km strike.

The company has mobilised field teams for detailed geological and structural mapping around priority targets near the Orleans, Great Western, and Grand Central mines; sites that yielded at least 75,000 ounces of gold at average grades between 20 and 30g/t from just four of fifteen identified veins. The mapping aims to refine controls on mineralisation, integrating with previous high-grade rock chip results such as 32.2g/t gold and 31.7g/t gold, setting the stage for targeted drilling.

Geophysical Surveys and Drilling Preparation

Complementing the mapping, Nelson has initiated Controlled Source Audio-frequency Magnetotellurics (CSAMT) geophysical surveys conducted by Zonge International Inc. These surveys are designed to image resistivity contrasts associated with mineralised structures, particularly extensions of the high-grade vein systems at the historic mines. This work feeds into a comprehensive 3D geological model to sharpen drill targeting ahead of a maiden underground drilling campaign slated for Q3 2026.

The company recently appointed Dr David John, a renowned USGS economic geologist with expertise in epithermal, porphyry, and Carlin-type gold systems across Nevada, as Special Advisor for its US operations. His involvement adds a layer of technical depth as Nelson advances its critical minerals strategy, which includes copper and tungsten potential alongside gold and silver.

These developments follow Nelson’s recent Geophysical Surveys Commence at High-Grade Gold Point Project and the appointment of Dr John as a strategic advisor Renowned USGS Gold Expert Dr David John Appointed as Special Advisor for US Operations.

Yarri Project Advances with Native Title and Mining Leases

Meanwhile, Nelson’s Yarri Gold Project in Western Australia has reached significant milestones. The company signed a Native Title and Mining Agreement with the Wangkatja Tjungula Aboriginal Corporation RNTBC, representing the Nyalpa Pirniku People. This agreement secures consent for mining activities, includes production-based royalties, and ensures cultural heritage protections alongside employment and training opportunities.

Post-quarter, the granting of Mining Leases M31/503 and M31/504 has removed key barriers, enabling an 11,544-metre RC drilling program approved by the Department of Mines, Petroleum and Exploration. The initial phase of approximately 3,000 metres targets extensions of historic high-grade intercepts, including intervals like 8 metres at 18.1g/t gold and 9 metres at 14.6g/t gold, with several northern corridor zones now accessible for modern exploration.

MEGA Resources Pty Ltd will sole-fund up to A$10 million for initial development and working capital under an existing Right to Mine Agreement. This arrangement positions MEGA to manage mining, haulage, geological, and engineering services, with profits shared 70:30 in MEGA’s favour until investment recovery.

These Yarri developments build on Nelson’s earlier Major Project Development Milestone for the Yarri Gold Project and the recent Grant of Mining Leases for the Yarri Gold Project, marking a clear path to accelerated exploration and potential production.

Financial Position and Outlook

Nelson reported exploration expenditure of $860,000 for the quarter, focused on advancing both Gold Point and Yarri projects, alongside administrative costs of $244,000. The company ended the quarter with a solid cash balance of approximately A$3.03 million, supporting ongoing activities and future drilling campaigns. No production or development activities took place during the period.

With maiden drilling at Gold Point planned for Q3 2026 and MEGA Resources’ funding unlocking Yarri’s expansion potential, Nelson is positioned at a pivotal stage of its growth trajectory. The combination of new geological insights, strategic partnerships, and secured tenure sets the scene for potentially transformative exploration results in the coming months.

Investors will be watching closely as Nelson transitions from surface exploration to drilling, with the technical input of Dr John and MEGA’s capital backing shaping the company’s near-term prospects.