Nexus Minerals (ASX:NXM) said that its air core drilling program at the Wallbrook gold project in Western Australia led to a better definition of the mineralized zone at the Payns prospect, according to a Wednesday Australian bourse filing.
The drill program consisted of 313 drill holes for 11,691 meters in total, completed across three targets including the Payns prospect, target MC2.1, and target MC5.3, the filing said.
Significant intercepts from the Payns prospect included four meters at 6.85 grams-per-tonne grade of gold from 28 meters and four meters at 7.12 g/t grade of gold from eight meters, per the filing.
The target MC2.1 mineralized footprint was also expanded, including a significant intercept of 4 meters at 1.73 g/t grade of gold from 36 meters and 4 meters at 1.68 g/t grade of gold from 36 meters. The target is now included within the larger Clement prospect.
Target MC5.3 returned minimal mineralization.
The mining firm's shares fell 7% in recent trading on Wednesday.
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