Nexus Minerals returned 26.53 g/t gold from first RC holes at Clement prospect, with 22,000m resource definition campaign underway. Next assay batches will test grade continuity and multi-lode system.
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Nexus Minerals (ASX:NXM) reported initial RC drilling results from the Clement prospect within the Wallbrook gold project in Western Australia. The first 10 holes returned anomalous gold intercepts, including 26.53 grams per tonne (g/t) gold. Managing Director Andy Tudor said results confirm a multi-lode system, with drilling continuing to define its extents.
The simple read is that a high-grade intercept drives stock momentum. Nexus Minerals shares rose 7.14% to A$0.06, giving a market cap of A$33.81 million. The better read requires examining the drilling program's scale, geological context, and the next material catalyst.
The first 10 RC holes targeted the Clement prospect, one of several priority zones within the Wallbrook project. The 26.53 g/t gold intercept is a standout number for an early-stage drill program. It represents a single intercept, not an average. The broader program is designed to test multiple lodes across the prospect envelope.
Key insight: Early-stage drill results can mislead; the real test is resource continuity and grade consistency across the full 22,000m program. A single high-grade hit does not guarantee a resource.
Tudor said results to date have confirmed a multi-lode system. This is significant because it suggests the mineralised system is more extensive than a single ore body. Multiple lodes can increase total ounces and reduce the risk of pinching out. For Nexus, this is especially relevant because Clement sits adjacent to the established Crusader–Templar resource within a proven gold corridor.
Practical rule: When a company describes a system as multi-lode, drill spacing and continuity matter. Wide spacing can leave gaps that later drilling fails to fill. Nexus is still in early-stage definition; the upcoming RC results will test the lode continuity assumption.
The current definition program covers three priority prospects:
All three prospects have been advanced through a systematic 18-month exploration effort comprising multiple AC programs and preliminary RC drilling. Exploration has established multiple coherent priority targets across the project, with these prospects demonstrating the scale, continuity, and grade profile required to support resource definition drilling.
The 22,000m program is the largest single definition effort at Wallbrook to date. Nexus expects further assay results in the weeks ahead. The initial 10 holes represent only a fraction of the total program. Each new batch will either confirm the high-grade trend or introduce variability.
Risk to watch: If the next tranche shows narrower intercepts or lower grades, the stock could retrace. The single 26.53 g/t result may not be representative of the average grade across the entire system.
Bottom line for traders: The Clement intercept is a positive sign. The stock's next move depends on the remaining 21,990 metres of drilling. Watch for grade consistency and width in the next assay release. Those numbers will determine whether the current rally holds or fades.
Nexus plans to deliver an updated multi-prospect mineral resource estimate later this year. That estimate will incorporate results from Clement, Payns, Branches, and any infill drilling at Crusader–Templar.
For traders tracking the stock, the key dates are the assay releases over the next two to three months. Each release will build or erode the case for a meaningful resource addition.
The gold market environment remains supportive for producers and developers. The broader commodity backdrop favours companies that can demonstrate tangible ounces. Nexus's systematic approach gives it a clearer path to resource growth than many early-stage explorers.
Nexus Minerals is targeting gold resource growth at Wallbrook (read our prior coverage here. For context on the broader gold market, see our gold profile.
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