Nexus Minerals Confirms High-Grade Gold Up to 34.77g/t at Payns Prospect

Payns Prospect Delivers Exceptional High-Grade Gold Intercepts

Nexus Minerals Limited (ASX:NXM) has wrapped up its resource definition drilling at the Payns Prospect within the Wallbrook Gold Project, reporting standout assay results that include a spectacular 1 metre intercept grading 34.77 grams per tonne (g/t) gold. This final tranche completes a 79-hole reverse circulation (RC) drilling program totalling 6,040 metres at Payns, revealing broad zones of shallow, near-surface mineralisation with a consistent high-grade core.

The highlight intercept of 5 metres at 12.83g/t Au, inclusive of the 34.77g/t metre, sits within a broader 21 metre interval averaging 3.26g/t Au from 39 metres downhole. Other significant results include 6 metres at 3.15g/t Au with a 1 metre spike at 10.46g/t, and multiple additional intercepts above 2g/t Au, confirming the prospect’s robust grade continuity.

Wallbrook RC Drilling Campaign Now Complete

The Payns program forms part of an extensive 21,985 metre RC drilling campaign across four key prospects: Clement, Payns, Branches, and Crusader-Templar. The drilling, which began in April 2026, has now concluded with 196 holes completed. While assay results from Payns are final, results from Branches and Crusader-Templar remain pending and are expected over the coming weeks.

Payns lies approximately 4 kilometres northwest of the Crusader-Templar deposit, which currently holds a combined Mineral Resource Estimate (MRE) of 304,000 ounces of gold at 1.7g/t. The new Payns data is expected to support a maiden MRE for the prospect, which will be integrated into an updated multi-prospect Wallbrook resource scheduled for release in the September quarter.

Geological Insights and Exploration Potential

Drilling has confirmed that Payns hosts a large-scale, near-surface mineralised system controlled by felsic to intermediate volcanic rocks intruded by hematite-altered porphyries. The mineralisation style is consistent with neighbouring deposits, featuring quartz-goethite veining in oxide zones and quartz-sulphide veining in fresh rock, often associated with pyrite and tourmaline.

The mineralised footprint at Payns extends roughly 900 by 750 metres, with the drilling indicating two opposing mineralised pods forming a synform structure. Importantly, mineralisation remains open both along strike and at depth, suggesting room for resource expansion through further drilling.

Management Confidence and Next Steps

Managing Director Andy Tudor praised the exploration team for delivering the program safely and on schedule, highlighting the calibre of the results and the clear potential to grow the Payns prospect. With assay reporting complete, Nexus is now focused on integrating these results with data from other prospects to finalise the updated Wallbrook MRE.

The company has engaged independent geologist Jeremy Clark to oversee the resource estimate, which is targeted for completion by the end of September. Meanwhile, assay results from Branches and Crusader-Templar will be reported through July and August, potentially adding further ounces to the project’s inventory.