Nexus Minerals (ASX: $NXM) completes update of Crusader-Templar mineral resource

Nexus Minerals Limited (ASX: $NXM) has completed an update of the Crusader-Templar combined Mineral Resource at the Wallbrook Gold Project in the north-eastern goldfields region of WA. The updated JORC 2012 Crusader-Templar combined Mineral Resource Estimate (MRE) stands at 5.67Mt at 1.7g/t Au for 304,000 ounces of gold, representing a 70% increase in contained ounces from the previously reported MRE.

Executive Commentary on MRE Update

Nexus Managing Director Andy Tudor commented, 'The MRE update has yielded exceptional results with a 70% increase to 304,000 ounces of gold. This achievement is underpinned by a more robust geological and mineralisation model, and improved economic constraints using an optimised open pit shell for reporting. The modelling exercise has demonstrated the value in orebody understanding and has continued to highlight the ongoing opportunity to build the project through exploration. Pleasingly, in the current market for gold, the optimisation work completed demonstrates the project provides significant scalability with the gold price.'

Summary of MRE Update and Outlook

The update of the Crusader-Templar combined Mineral Resource at the Wallbrook Gold Project has resulted in a 70% increase in contained gold ounces, positioning the project favorably for future development. The MRE update serves as a solid foundation for the ongoing mine studies, with a diamond drill program scheduled to commence in early May to complement study work. The project exhibits characteristics indicative of a low-risk open-pit operation, supported by strong metallurgical recoveries, favorable environmental studies, secure mining tenure, and access to existing infrastructure. The deposit remains open for potential extensions, and systematic regional exploration of the entire Wallbrook project is ongoing, offering opportunities for operational longevity and potential for cost-effective discovery of shallow orebodies.