Nexus launches drill campaign at Payns prospect at the Wallbrook Gold Project

Nexus Minerals Ltd has kicked off a 4,000-metre reverse circulation (RC) drill program at its Payns Prospect, part of the Wallbrook Gold Project in Western Australia’s Eastern Goldfields, following encouraging aircore results reported in late 2024 and March 2025.

“Following on from considerable success in prior aircore programs it is very exciting to see RC drilling commence at Payns Prospect,” Nexus managing director Andy Tudor said.

Considerable opportunity awaits

“Previous aircore results have offered an early indication of the considerable opportunity at Payns, which we look forward to building on with the RC rig.

“The prospect is ideally situated, located immediately along strike of major deposits currently being mined by Northern Star Resources.

“RC drilling continues our systematic exploration approach focused on efficient discovery of near-surface gold mineralisation.”

The Payns Prospect, 140 kilometres northeast of Kalgoorlie, spans a 900 metre by 750 metre footprint and sits between Nexus’ Crusader-Templar mineral resource (304,000 ounces of gold) and Northern Star Resources' Porphyry and Million Dollar gold mines.

Previous aircore drilling defined a significant near-surface mineralised system with multiple high-grade gold intercepts, including 4 metres at 7.12 g/t gold from 8 metres depth, within a broader 20 metre zone grading 1.77 g/t gold.

The RC drilling program will test the continuity, geometry and tenor of mineralisation, supporting refinement of the geological model and contributing to the company's strategy of efficiently building a near-surface gold resource base.

The current campaign includes systematic fence-line drilling and shallow infill holes targeting known mineralised trends, with depths of some 150 metres.

Visible gold reported

Payns is underlain by felsic to intermediate volcaniclastics with associated porphyry intrusives, revealing regional gold alteration signatures and veining consistent with high-grade mineralisation.

The mineralisation dips gently southwest and follows a northwest-southeast trend, with visible gold reported in previous drill chips.

Assay results from the RC campaign are anticipated through July and August.

Nexus continues to explore and advance its tenement holdings within the Carosue Dam corridor, a region hosting several operating mines.

“We look forward to sharing updates from this promising new program as results become available,” Tudor added.