Nexus Minerals has reported robust gold assay results from its Wallbrook Gold Project, with the Payns Prospect delivering continuous mineralisation including grades up to 19.00g/t Au. The ongoing drilling program is on track to expand the project's resource base ahead of a September update.
- Payns Prospect drilling returns gold grades up to 19.00g/t
- All 30 reported holes show anomalous gold intercepts
- Drilling program progressing with 12,000m completed of 22,000m
- Mineralisation remains open for lateral and depth extensions
- Updated Wallbrook Mineral Resource Estimate targeted for September
High-Grade Gold Confirmed at Payns Prospect
Nexus Minerals Limited (ASX:NXM) has unveiled strong assay results from the Payns Prospect within its Wallbrook Gold Project in Western Australia, with gold grades hitting as high as 19.00 grams per tonne (g/t) in the first 30 reverse circulation (RC) drill holes. The drilling campaign, part of a ~22,000m resource definition program, has delivered continuous mineralisation across all holes, signalling a substantial and coherent gold system near surface.
Highlight intercepts include 5 meters at 8.20g/t Au with a 2-meter section grading 19.00g/t Au within a broader 13-meter zone averaging 3.35g/t Au from 30 meters depth. Other notable results feature multiple intervals exceeding 2g/t Au, reinforcing the prospect’s potential to host a shallow maiden Mineral Resource.
Drilling Progress and Strategic Focus
The Payns drilling is now complete, comprising 79 holes for 6,040 meters, with assay results received for the initial 30 holes (2,224m). The program has moved on to the Branches and Crusader–Templar prospects, with approximately 12,000m drilled so far and completion expected by July. This systematic approach aims to infill and extend known mineralisation, testing both strike and depth continuity to underpin an updated Mineral Resource Estimate (MRE) scheduled for the September quarter.
The Wallbrook Project’s current resource inventory is anchored by the Crusader–Templar Deposit, which contains 304,000 ounces of gold. Payns, located about 4km northwest of Crusader–Templar and near Northern Star Resources’ Porphyry and Million Dollar gold mines, offers a 900m by 750m mineralised footprint that remains open for expansion.
Geological Setting and Mineralisation Characteristics
Geological logging confirms a felsic to intermediate volcanic and volcaniclastic host environment, intruded by hematite-altered porphyries that create favourable structural pathways for gold deposition. Mineralisation is associated with quartz-goethite veining in oxide zones and quartz-sulphide veining (notably pyrite and tourmaline) in fresh rock, with sulphide content up to 2%. Two mineralised pods suggest structural offsets, consistent with nearby deposits and operating mines.
Drilling orientation at -60 degrees dip and approximately perpendicular to mineralised structures is designed to minimise sampling bias. Assays were conducted using PhotonAssay™ technology, which offers improved detection of coarse gold compared to traditional fire assay methods.
Outlook and Next Steps
Managing Director Andy Tudor highlighted the momentum building across Wallbrook, noting the continuous near-surface system at Payns with high-grade components open for lateral and down-dip growth. The company’s exploration team is assessing results to optimise further resource definition activities, with the updated MRE to be delivered by independent consultant Jeremy Clark by the end of September.
While the true widths of mineralised intercepts are yet to be determined and further assays are pending, these early results support the potential for Payns to become a significant contributor to the Wallbrook resource inventory. The progression of drilling at Branches and Crusader-Templar will further clarify the project’s scale and grade profile.
Bottom Line?
Nexus Minerals’ Payns Prospect results reinforce Wallbrook’s exploration upside, with a resource update due in September that could reshape the project’s valuation.
Questions in the middle?
- How will the pending assay results from Branches and Crusader-Templar influence the upcoming Mineral Resource Estimate?
- What is the potential scale of the maiden Mineral Resource at Payns given the current footprint and grade continuity?
- How might these drilling results affect Nexus Minerals’ strategic positioning relative to nearby Northern Star operations?