Nexus encounters high-grade gold intersections at Pinnacles JV

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THE DRILL SERGEANT: Nexus Minerals (ASX: NXM) announced the results of a seven hole RC drilling program completed at the Pinnacles JV – with Sarcen Mineral holdings (ASX: SAR) – gold project in December 2015.

The company said the program achieved in what it set out to do, that being to test for depth extensions of high-grade mineralisation it had already identified.

From the results, this high grade mineralisation is now known to extend to around 100 metres below the existing JORC resource of 413,000 tonnes at 2.1 grams per tonne gold for 28,000 ounces of gold and remains open at depth and along strike.

Best intersections returned include:

6m at 13.1g/t gold;

8m at 7.7g/t gold; and

11m at 5.6g/t gold.

This was the first RC drilling program completed by Nexus since it entered the JV with Saracen in December 2015.

“We are very excited to have intersected the target zone where modelled, and that significant widths of high grade mineralisation were identified in the Nexus drill holes,” Nexus Minerals chief executive officer Andy Tudor said in the company’s announcement to the Australian Securities Exchange.

“Geological modelling will now take place integrating the Nexus drilling with that of previous operators, resulting in the next phase of drill planning.”

Website: www.nexus-minerals.com