Nexus Minerals MD Andy Tudor Discusses Canaccord Ranking and Resource Growth with JustStocks

Nexus Minerals Ltd (ASX: NXM) continues to advance its flagship asset, the Wallbrook Gold Project in the eastern goldfields of Western Australia.

The goldfields are host to multi-million-ounce deposits, and the strategic location of Wallbrook is attracting attention.

The project sits between Northern Star Ltd’s (ASX: NST) Carosue Dam Operations and its Porphyry Mining Centre Operations.

Currently, Northern Star is trucking ore from the Porphyry Mining Centre to Carosue Dam which hosts a 3.2 million tonne per annum mill, a distance of around 35 kilometres.

Wallbrook

Within Wallbrook, the Crusader-Templar Deposit hosts a combined resource of 304,000 ounces at 1.7g/t gold.

The exploration target is 480,000 to 790,000 ounces at 1.50 to 1.75g/t gold.

The resource is constrained within a pit shell down to around 200 metres below surface, but significantly, the exploration target is defined to 400 metres.

Of this the location is key, with the Crusader-Templar trend immediately along strike from Northern Star’s Wallbrook Mine.

Both deposits are defined right up the contiguous tenement boundaries.

Canaccord attention

Andy Tudor, Managing Director of Nexus, joined JustStocks and opened the discussion.

“The resource growth at Crusader-Templar expands potential options for Wallbrook, and with Nexus now moving into a Scoping Study, we will have more definitive information on the potential next steps.

“This has caught the attention or market participants, including the globally recognised broker Canaccord Genuity.

“Canaccord has included Nexus in their Junior Precious Metals Book.”

This is important considering there are 700 plus juniors in the gold exploration space, its significant to not only be acknowledged, but accepted.

Tudor continued: “Nexus is one of just 23 companies to be selected in this metals book by Canaccord.

“Nexus has moved up from grass roots success to the discovery of resources, and with the soon to be released Scoping Study, sees the company moving through the project pipeline.

“Gold continues to be the reliable standout commodity, and with Canaccord forecasting A$3500 an ounce for years to come, it positions Nexus in a great place to benefit from exploration success.”

Additional portfolio

The Nexus portfolio also holds the Bethanga Project in Victoria, a large porphyry copper-gold target.

In New South Wales, the company has exposure to gold and copper, along with critical minerals – lithium, caesium, tantalum and tin.

Nexus is well-funded with $5.88 million in cash as at 16th April 2024.

 

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