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Nexus to advance Pinnacles project

13th March 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Junior Nexus Minerals will undertake a feasibility study on its Nexus Pinnacles gold joint venture project, in Western Australia, after an independent scoping study confirmed the project’s feasibility.

The ASX-listed company on Friday said that the scoping study results were positive and justified Nexus committing to the next stage of exploration and development by progressing to a feasibility study this year.

MD Andy Tudor said that the scoping study identified a clear pathway to monetize the mineral resource with the aim to develop an openpit, followed by an underground mining operation.

“The mineral resource is robust in terms of both tonnes and particularly grade. These scoping study results, in conjunction with the current strong Australian gold price, further enhance the strength of the Pinnacles project, with the advantage of a pre-existing ore sales agreement with Saracen, with any ore mined to be processed through Saracen’s Carosue Dam operation.”

Nexus is now conducting preliminary discussions to secure funding for the feasibility study through to aimed production, with the aim of securing a gold pre-purchase and funding agreement to secure up to A$5-million in financing.

Edited by Creamer Media Reporter

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