Nexus Minerals has expanded its combined mineral resource at the Wallbrook Gold Project in Western Australia to 631,000 ounces of contained gold, marking a 108% increase from its previous estimate of 304,000 ounces reported in May 2024.

The updated Mineral Resource Estimate covers 13.3 million tonnes at 1.5 grams per tonne gold across the Crusader-Templar, Payns, and Branches deposits. The new inventory comprises 207,000 Indicated ounces and 424,000 Inferred ounces. The Crusader-Templar deposit now contains 533,000 ounces across 10.8 million tonnes at 1.5 grams per tonne, incorporating the Clement prospect after recent drilling closed the gap between the two areas. That deposit also includes a maiden underground component of 86,000 ounces beneath the optimised pit shells.

Nexus has also established maiden resources at two separate regional deposits. The Payns deposit contributes a maiden open-pit resource of 50,000 ounces, while the Branches deposit adds 48,000 ounces across open-pit and underground classifications.

Open-pit resources are reported at a 0.3-gram-per-tonne cut-off within optimised pit shells based on a gold price assumption of A$6,000 per ounce. Material below the open-pit shells is reported at a 1.0-gram-per-tonne cut-off.

Combined with the Pinnacles Deposit 45 kilometres to the south—which contributes 78,000 ounces—Nexus holds a total group mineral resource of 14 million tonnes at 1.6 grams per tonne for 709,000 ounces of gold.

“More than doubling the Wallbrook Mineral Resource inventory with this update is a significant result for the Company, and it reflects the disciplined exploration applied since the last update in 2024. We have taken Crusader- Templar past half a million ounces, added a maiden underground component beneath the pit shell, and added maiden resources for the Payns and Branches deposits.”

“Importantly, this represents an interim update. The Crusader-Templar, Payns and Branches deposits remain open for continued growth, Amand and Godfrey represent strong targets for resource definition work, and the regional pipeline of targets across our tenure is robust. Our discovery cost per ounce continues to fall as our experienced exploration team translates growing project knowledge into discovery success. Combining our Wallbrook and Pinnacles Projects places group resources in excess of 700,000oz of gold.”

— Andy Tudor, Managing Director

Nexus plans to commence a diamond drilling program at Wallbrook in October 2026. The work will collect bulk density data to support converting portions of the Inferred resource to the Indicated category at the Payns and Branches deposits, alongside gathering structural information at the Amand prospect.

Read the full announcement: NEXUS GROUP RESOURCES INCREASE TO 709,000OZ GOLD