Nexus Minerals Strikes High-Grade Gold at Payns Prospect

About Nexus Minerals Limited

Nexus Minerals Ltd (ASX: NXM) is an Australian gold exploration company focused on high-potential projects in Western Australia. Its flagship Wallbrook Gold Project lies in the prolific Eastern Goldfields region, adjacent to major mining operations. The latest results from the Payns Prospect reinforce its status as a significant emerging gold discovery, with broad, high-grade intercepts expanding the mineralised footprint.

A Transformational Gold Discovery

The completion of Nexus Minerals’ extensive 313-hole, 11,691-meter air core drilling program at the Wallbrook Gold Project has delivered exceptional results that position the Payns Prospect as one of Western Australia’s most exciting new gold discoveries. The expanded mineralised zone now spans an impressive 900m x 750m footprint, with multiple high-grade intercepts including 4m @ 5.40 g/t Au from 28m and 4m @ 4.39 g/t Au within a broader 8m @ 2.72 g/t Au zone. Particularly noteworthy was the observation of visible gold in drill hole NMWBAC25-897, which assayed 4m @ 2.8 g/t Au – a strong indicator of the system’s quality. These results build upon previous outstanding intercepts from November 2024 that included 4m @ 7.12 g/t Au, demonstrating remarkable grade continuity across the prospect.

From a financial perspective, these consistent high-grade results significantly de-risk the project while creating substantial value potential for shareholders. The prospect’s strategic location along strike from Northern Star Resources‘ producing mines adds considerable strategic value, making it an attractive potential acquisition or joint venture target for mid-tier and major gold producers seeking to replenish reserves. The imminent transition to RC drilling represents a critical value inflection point, with the potential to deliver the deeper, structural understanding needed to progress toward resource definition. Market response to these developments has been positive, with the stock showing resilience despite broader market volatility – a testament to the quality of these discoveries.

Strategic developments at Payns are being closely watched by industry participants. Managing Director Andy Tudor’s emphasis on the prospect’s “spatial significance” underscores its geological similarities to nearby producing deposits, which could translate into lower development costs and faster permitting timelines should the project advance. The company has strategically timed its exploration activities to capitalise on current gold market dynamics, with final assays from MC2.1 and MC5.3 expected by late April and the next air core program commencing mid-April. These upcoming catalysts provide multiple opportunities for value realisation in the near term.

The broader industry context provides strong tailwinds for Nexus’s development. With gold prices hovering near historic highs around AUD $3,400/oz, explorers with high-grade discoveries like Payns are commanding premium valuations. The current environment of strong M&A activity in the gold sector, combined with majors’ urgent need to replace depleting reserves, creates an ideal backdrop for potential corporate action. Furthermore, macroeconomic factors including geopolitical uncertainty and anticipated rate cuts continue to support robust gold investment demand, providing fundamental support for the sector.

Looking Ahead

As Nexus Minerals advances Payns through the exploration pipeline, the prospect is rapidly evolving from an early-stage discovery into what could become a company-defining asset. The combination of expanding high-grade mineralisation, visible gold occurrences, and strategic location creates a compelling investment proposition. For ASX investors, NXM represents a leveraged play on both exploration success and the strong gold price environment, with the upcoming RC drilling program poised to be the next major catalyst. The company’s systematic approach to exploration and clear pathway to resource definition positions it well to potentially join the ranks of Australia’s next generation of gold producers, or alternatively, become an attractive takeover target for established miners seeking high-quality development assets.