Nexus Minerals has reported a major resource upgrade for its Wallbrook gold project, boosting total group gold resources past 709,000 ounces.
The updated combined mineral resource estimate (MRE) for Wallbrook, located in Western Australia’s Eastern Goldfields, increased by 108 per cent to 13.3 million tonnes at 1.5 grams per tonne gold for 631,000 contained ounces.
This more than doubles the project’s previous resource estimate of 304,000 ounces recorded in May 2024.
The expansion established Crusader-Templar as a half-million-ounce deposit standing at 10.8 million tonnes at 1.5 grams per tonne for 533,000 ounces.
It also introduced maiden resource estimates for two nearby regional targets: the Payns deposit at 50,000 ounces and the Branches deposit at 48,000 ounces.
Combined with the Pinnacles Deposit located 45 km to the south, Nexus Group’s total mineral resource inventory now stands at 14 million tonnes at 1.6 grams per tonne for 709,000 ounces of gold, with 249,000 ounces, 35 per cent, classified in the higher-confidence Indicated category.
Nexus Managing Director Andy Tudor said: “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.
“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.”
The upgrade was achieved at a discovery cost of just $18 per resource ounce, driven by disciplined reverse circulation drilling and a full geological re-interpretation across all deposits.
Nexus plans to commence a diamond drilling program in October to gather structural data and collect bulk density samples to convert Inferred resources into Indicated status, alongside testing new regional targets across its 192-square-kilometre land package.