Nexus Minerals Hits 34.77g/t Gold at Payns Ahead of Major Resource Upgrade
Nexus delivers further high-grade gold hits at Payns with assays up to 34.77g/t Au
Nexus Minerals has received the final tranche of assay results from its 79-hole resource definition programme at the Payns Prospect within the Wallbrook Gold Project, approximately 140km northeast of Kalgoorlie in the Eastern Goldfields of Western Australia. The latest batch of 49 RC holes for 3,816m returned standout intercepts including 5m at 12.83g/t Au (including 1m at 34.77g/t Au) within 21m at 3.26g/t Au from 39m. With assay reporting now complete across all 79 holes for 6,040m at Payns, the prospect is positioned to contribute a maiden Mineral Resource Estimate (MRE) to the updated multi-prospect Wallbrook MRE, which is currently constrained to the Crusader-Templar combined MRE of 304koz Au.
The completion of assay reporting at Payns marks a strategic milestone in the broader 21,985m Wallbrook RC drilling campaign, which has delivered 196 new drill holes across four prospects: Clement, Payns, Branches, and Crusader-Templar. Three prior tranches of assay results have been reported across the Clement and Payns Prospects, with this fourth tranche concluding reporting from Payns Prospect drilling. Results from Branches and Crusader-Templar are expected through July and August. An independent Competent Person, Mr Jeremy Clark of Lily Valley International, has been engaged to deliver the updated multi-prospect MRE, targeted for completion by the end of the September quarter. This progression removes a key data gap and sets the stage for a resource upgrade that could materially expand the project’s ounce inventory.
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Highlight intercepts from the Payns drilling programme
The final 49-hole results build on previously released highlights and confirm the presence of broad, near-surface mineralisation with a consistent higher-grade core. New significant intercepts include:
- 5m at 12.83g/t Au including 1m at 34.77g/t Au within 21m at 3.26g/t Au from 39m
- 6m at 3.15g/t Au including 1m at 10.46g/t Au within 22m at 1.14g/t Au from 28m
- 3m at 3.89g/t Au within 8m at 1.70g/t Au from 37m
- 1m at 4.68g/t Au within 6m at 1.66g/t Au from 52m
- 1m at 5.70g/t Au within 4m at 1.59g/t Au from 86m
- 2m at 2.49g/t Au within 6m at 1.32g/t Au from 36m
- 3m at 2.06g/t Au within 6m at 1.12g/t Au from 84m
These results follow earlier highlights released on 4 June 2026, which included:
- 5m at 8.20g/t Au including 2m at 19.00g/t Au within 13m at 3.35g/t Au from 30m
- 5m at 2.67g/t Au including 1m at 10.82g/t Au within 9m at 1.52g/t Au from 48m
- 3m at 3.09g/t Au including 1m at 6.15g/t Au within 4m at 2.36g/t Au from 123m
Repeated high-grade intercepts across multiple drill holes suggest mineralisation forms a coherent, higher-grade core within broader zones rather than isolated occurrences — a positive indicator for resource continuity and potential grade consistency in the eventual MRE.
What is a Mineral Resource Estimate and why does it matter?
A Mineral Resource Estimate (MRE) is a formal geological and statistical estimate of the quantity and grade of mineralisation in the ground, reported under the JORC Code. It represents a critical milestone in the lifecycle of an exploration project, forming the foundation for economic studies, project valuations, and potential development decisions. An MRE classifies mineralisation into Measured, Indicated, and Inferred categories based on the level of geological confidence, drill density, and data quality.
For investors, the progression from exploration targets to a JORC-compliant resource is a significant de-risking event. It validates the presence of economically relevant mineralisation, provides a basis for scoping studies, and often attracts interest from larger mining groups, strategic partners, or financiers. Resource upgrades can materially re-rate a company’s asset base, particularly when they expand the total ounce inventory or improve the grade profile.
In the context of Nexus Minerals, the current Crusader-Templar MRE stands at 304koz Au at 1.7g/t. Payns is now positioned to contribute a maiden MRE to an updated multi-prospect resource, which has the potential to expand the total ounce inventory across the Wallbrook project. The completion of assay reporting at Payns removes a key data gap and enables the company to progress towards a resource that integrates multiple prospects, potentially enhancing the project’s strategic value and development optionality.
Payns Prospect geology and mineralisation characteristics
Drilling at Payns has confirmed a geological setting dominated by felsic to intermediate volcanic and associated volcaniclastic units, particularly evident in the central-northern part of the prospect. These volcanic sequences are intruded by hematite-altered porphyries, creating favourable competency contrasts and structural pathways that support fluid movement and gold deposition.
In oxide and transitional zones, gold is typically associated with quartz-goethite veining near redox boundaries. The highest-grade intervals within fresh rock are linked to increased quartz-sulphide (pyrite ± tourmaline) veining, with sulphide content reaching up to 2% in volcanic and volcaniclastic host rocks. Broader zones of mineralisation are associated with hematite alteration and minor veining, with lower-grade gold also observed in areas of competency contrast between volcanic and volcaniclastic units. These geological characteristics are consistent with mineralisation observed at neighbouring deposits and nearby operating mines operated by Northern Star Resources.
Interpretation suggests two opposing mineralised pods dipping towards one another, forming a synform geometry. Encouragingly, mineralisation remains open along strike and at depth, indicating potential for further growth without requiring new discovery. This structural continuity supports the prospect for resource extension through follow-up drilling.
Managing Director Andy Tudor
“Completing the full 21,985m Wallbrook RC drilling programme safely, on time and with results of this calibre is a credit to the entire exploration team. Payns assay reporting is now complete, with the programme returning impressive near-surface, high-grade intercepts. Encouragingly, the drilling has left ongoing scope to grow the Payns prospect both along strike and at depth.
“We look forward to receiving assay results from Branches and Crusader–Templar, which are expected to be reported through July and August. The project continues to progress towards an updated Wallbrook Mineral Resource Estimate in the September quarter.”
Wallbrook programme progress and next steps
The Wallbrook RC drilling programme is now complete, with 196 RC holes for 21,985m drilled across four prospects: Clement, Payns, Branches, and Crusader-Templar. Three prior tranches of assay results have been reported across the Clement and Payns Prospects, with this fourth tranche concluding reporting from Payns Prospect drilling. Results from Branches and Crusader-Templar are expected to be reported through July and August. Independent Competent Person Mr Jeremy Clark of Lily Valley International has been engaged to deliver the updated multi-prospect Wallbrook MRE, targeted for completion by the end of the September quarter.
| Prospect | Status | Holes | Metres |
|---|---|---|---|
| Clement | Assays complete | — | — |
| Payns | Assays complete | 79 | 6,040m |
| Branches | Assays pending | — | — |
| Crusader-Templar | Assays pending | — | — |
| Total | — | 196 | 21,985m |
The completion of drilling and pending assay results set up multiple potential catalysts over the coming months. Each batch of results from Branches and Crusader-Templar could deliver additional high-grade intercepts or define mineralisation continuity, culminating in a resource update that has the potential to materially expand the project’s ounce base and enhance its development pathway.
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Project location and strategic context
The Wallbrook Gold Project is located approximately 140km northeast of Kalgoorlie in the Eastern Goldfields of Western Australia. Payns Prospect sits 4km northwest of the Crusader-Templar Mineral Resource and south along strike from Northern Star Resources’ Porphyry and Million Dollar gold mines. Nexus holds a 192km² land package within a major regional structural corridor, positioning the company within a highly prospective geological terrane adjacent to established infrastructure and operating mines.
Proximity to Northern Star’s operations enhances the strategic value of the Wallbrook asset. Access to existing infrastructure, processing facilities, and regional knowledge reduces potential development costs and timelines, whilst increasing the likelihood of attracting interest from larger mining groups or facilitating toll treatment arrangements. This regional context provides multiple potential pathways for future development and value realisation.
Want to Track Nexus Minerals’ Journey to a Multi-Prospect Resource Upgrade?
With assay reporting now complete at Payns and high-grade intercepts up to 34.77g/t Au confirmed, Nexus is positioned to deliver a maiden Mineral Resource Estimate by the end of the September quarter. The upcoming Wallbrook MRE could materially expand the project’s 304koz Au inventory and unlock new development pathways in a strategic Eastern Goldfields location.
Stay ahead of the resource definition milestones and pending assay results from Branches and Crusader-Templar by visiting the Nexus Minerals investor hub for real-time updates, market insights, and direct company announcements. Follow the progression from exploration to resource and position yourself to capitalise on potential catalysts as they emerge.