Nexus Minerals (ASX: NXM) has completed its acquisition of the tenements of the Wallbrook gold project from gold miner Newmont. The tenements are located along strike immediately to the north, south and encompassed within the existing Wallbrook gold project tenements which are already owned by Nexus.
Nexus’ Wallbrook Gold Project now covers 250km2 of highly prospective geological units known to host significant district gold mineralisation
Newmont and Nexus have completed the Tenement Sale and Purchase transaction – Nexus having acquired 190km2 Newmont tenement package adjacent to Nexus’ existing Wallbrook Gold Project;
Nexus to accelerate exploration across the enlarged underexplored Wallbrook Gold Project;
High resolution ground magnetic survey and geological / structural mapping commenced;
Gravity survey and Gradient Array IP survey to commence first week December.
Gold explorer, Nexus Minerals Limited (ASX: NXM) (Nexus or the Company) is pleased to announce the completion of the Tenement Sale and Purchase Agreement with Newmont Exploration Pty Ltd (Newmont) (see ASX release 20 September 2018), whereby Nexus purchased three tenements from Newmont covering some 190km2 of prospective geological terrain.
The tenements are located along strike immediately to the north, south and encompassed within the existing Wallbrook Gold Project tenements, already owned by Nexus. They complement Nexus’ existing landholding for a total contiguous package of some 250km2.
The Wallbrook Gold Project is considered underexplored and highly prospective for the discovery of significant gold mineralisation. Recent drilling completed by Nexus demonstrated this prospectivity (see ASX releases 16 October 2018 and 6 September 2018)