Nexus Minerals - Drilling commences at the Pinnacles JV gold project
Nexus Minerals (ASX:NXM) has commenced a 3,350m RC and DDH drill program at the Pinnacles JV, located 10km south of Saracen's Carosue Dam Operations. The drill program is testing depth extensions to the Pinnacles East resource as well as assessment of high priority regional targets.
- 3350m drill program commenced at Pinnacles
- Pinnacles East Resource area drilling to target extensions to previous mineralised intersections;
- 8m @ 7.7g/t Au
- 7m @ 5.9g/t Au
- 3m @ 9.8g/t Au
- 4m @ 7.6g/t Au
- Regional Target drilling to test coincident geophysical / geochemical and structural targets
Nexus Minerals Limited (ASX: NXM) (Nexus or the Company) is pleased to advise that it has commenced a Diamond and RC drill campaign at the Pinnacles JV gold project, located in the Eastern Goldfields, 120km northeast of Kalgoorlie (Fig. 1).
The program will be testing for extensions to the Pinnacles East gold resource as well as testing priority regional gold targets (Fig. 2).
The Pinnacles East gold resource extension program will test for depth and strike extensions to the south of, and beneath, high grade gold mineralisation identified to date. The 6 hole 2,500m program will be a combination of RC drilling, and RC drill pre-collars with Diamond core tails (Fig. 3 and 4).
The deeper holes under the Pinnacles East resource (which commences at surface) are targeted to intercept mineralisation at approximately 350m vertical metres, 100m below previous mineralised intercepts, including 8m @ 7.7g/t Au, 7m @ 5.9g/t Au, 3m @ 9.8g/t Au and 4m @ 7.6g/t Au.
The Regional program (6 hole / 850m RC drilling), will test two target areas identified by recent geological / geophysical work undertaken by the Company.
The first target area, GT1, is the extensive coincident chargeability high and resistivity high anomaly identified over magnetic anomalies within the “Pinnacles Corridor” (GT1 anomaly on Fig. 5). This anomaly may be related to areas of disseminated sulphides (chargeability highs) and large zones of silicification (resistivity highs) – frequently associated with gold mineralisation.
The second target area, GT2, is the resistivity high centered on the Pinnacles North coincident gold / arsenic soil geochemical anomaly (GT2 anomaly on Fig. 5). It will also follow up mineralised intersections recorded in RAB drilling programs by a previous operator.
The drilling program is anticipated to be completed late August, with results expected to be received from early September.