Gold explorer Nexus Minerals has acquired a 190 km2 tenement package adjacent to its Wallbrook tenements, expanding the project to about 250 km2 of prospective geological units in the Eastern Goldfields of Western Australia.
The ASX-listed company has signed a tenement sale and purchase agreement with major Newmont, pursuant to which Nexus will buy three tenements for a total consideration of A$13 100 and a 2% net smelter royalty on all production.
The tenements are located along strike immediately to the north and south and are encompassed within the existing Wallbrook gold project tenements.
Announcing the acquisition on Thursday, Nexus said that it would accelerate exploration across the enlarged Wallbrook area, noting that the project remained under-explored.
Recent drilling results for Nexus’ Wallbrook tenements included 3 m at 19.36 g/t gold, 3 m at 6.04 g/t gold, 3 m at 4.88 g/t gold and 2 m at 3.65 g/t gold.