Nexus Minerals Advances ~2,000m Diamond Drilling at Wallbrook Gold Project, First Assays Expected December

Anjali Anand

10 November 2026 12:56 PM AEDT

Nexus Minerals Advances ~2,000m Diamond Drilling at Wallbrook Gold Project, First Assays Expected December

Image Source: Krish Capital Pty Ltd

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Nexus Minerals Limited (ASX:NXM) has disclosed that its approximately 2,000-metre diamond drilling program is progressing at the Wallbrook Gold Project in Western Australia, with six holes at the Payns Deposit now complete and the drill rig relocated to the Branches Deposit.

Key Points

Approximately 2,000m diamond drilling program underway across Payns, Branches, Crusader-Templar new lodes, and Amand prospect at Wallbrook Gold Project
Six Payns Deposit holes completed; drill rig has moved to Branches Deposit, with Crusader-Templar and Amand to follow
First assays from the program are expected early December, with samples submitted for Chrysos PhotonAssay™ analysis
The MOU with Macro Gold Mining Services Pty Ltd (MGMS) has concluded without MGMS securing an acceptable ore sale and purchase agreement
Wallbrook Mineral Resource Estimate stands at 13.34Mt at 1.5g/t Au for 631,000oz; Group Mineral Resource stands at 14Mt at 1.6g/t Au for 709,000oz

Diamond Drilling Program Scope and Progress

The diamond drilling program at Wallbrook is designed to support the upgrading of Inferred resources at the Payns and Branches deposits to Indicated category, confirm lode geometry for future RC targeting, and collect metallurgical, bulk density, and waste rock samples for mine studies. Geological logging at Payns has shown that holes intersected the targeted mineralised zones where predicted by the Mineral Resource Estimate modelling. Drill holes are being sampled to geological boundaries or at nominal one-metre intervals, with bulk density and structural measurements collected throughout the program. The Wallbrook Gold Project is located approximately 140km northeast of Kalgoorlie.

Wallbrook Mineral Resource and MOU Conclusion

The Wallbrook Gold Project hosts a combined Mineral Resource Estimate of 13.34Mt at 1.5g/t Au for 631,000oz across the Crusader-Templar, Payns, and Branches deposits, comprising 207,000oz Indicated and 423,000oz Inferred material. The Company's combined Group Mineral Resource, including the Pinnacles Deposit, stands at 14Mt at 1.6g/t Au for 709,000oz. Separately, the MOU with Macro Gold Mining Services Pty Ltd, a subsidiary of Macro Metals Limited (ASX: M4M), has concluded without MGMS securing an acceptable ore sale and purchase agreement with a third-party treatment facility.

Development Strategy and Processing Study

Critical operational permits are in place for a stage 1 operation, pending a favourable processing solution with a third-party mill. The Crusader-Templar deposit, at 10.8Mt at 1.5g/t for 533,000oz, is supported by advanced studies including metallurgical reporting, geotechnical reporting, waste rock characterisation, dewatering, environmental surveying, and mine permitting. Nexus is in the advanced stages of a processing plant cost and sizing study with Mincore Engineering, the outcomes of which are expected in the coming months. This information will be used as the basis for an updated project scoping study utilising the September 2026 Mineral Resource Estimate.

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