Triumph Gold Project

Nexus Minerals Limited is pleased to announce the results of the recent drill program at the Triumph Gold Project, 145km northeast of Kalgoorlie, WA (Fig 1&2).

   

Location

The Triumph Project is located in the Eastern Goldfields of Western Australia, some 145km northeast of Kalgoorlie.

Historic Workings

There has been very limited exploration undertaken on the tenements since the turn of the century, and only in the search for shallow oxide gold potential during the late 1980’s / early 1990’s. The limited amount of drilling that has taken place has yielded significant gold results, with a large number of holes intersecting old mining voids/backfill. There are only 5 holes drilled deeper than 80m, with the deepest being 160m. A number of historic mine workings, and results from limited auger soil sampling and some broad spaced shallow RAB drilling on the northern area of the Project has also confirmed the strike extension of the mineralised structure.

Modern Exploration

The Triumph Project tenements provide a semi-continuous strike length of historic gold mine workings and shafts over a mineralised structure of 16km. The joint venture tenement package covers approximately 24km2. Nexus also applied for an exploration license and 3 prospecting licenses (100% Nexus) of a further approximately 46km2 that surrounds the area covered by the joint venture tenements providing a total tenement package area of approximately 70km2. The exploration licence under application (E31/1088) that makes up the majority of the ground applied for, has recently been granted.

Table 1 below highlights the +4g/t Au results received from the recent RC drill program.

triumph table 1
TABLE 1: Summary of Significant Intercepts (4.0g/t Au Cut-off)

Nexus is targeting high grade gold deposits in the Triumph Gold Project. The 40 hole, 4,034m RC drilling program was completed to test 4 high priority areas – Triumph, Glengarry, Ace of Hearts and Perseverance (Fig 3). This first phase of drilling was designed to test the depth extensions (80-100m) of the shallow mineralised structures identified to date at these four locations. The drilling has successfully identified significant gold mineralisation at 3 of these prospect areas – Triumph, Glengarry and Ace of Hearts, within a number of silicified shear zones and quartz vein intersections, hosted within a sheared and altered highly deformed greenstone sequence intruded by narrow porphyry units. The Triumph and Glengarry prospects returned the most encouraging results and will be the focus for the next phase of exploration on the project. Triumph at deeper levels (100m+), and Glengarry at shallower levels (<80m).

An opportunity also exists to determine the tenor and extent of mineralisation intersected at depth at the Ace of Hearts prospect, but at a shallower focus between surface and ~80m depth. The mineralisation was intersected over a 500m strike length. Mineralisation was also intersected at the Perseverance prospect but was low in tenor and limited in its extent. A summary of significant intercepts (1g/t Au Cut-off) is presented in Table 2 below.

triumph table 2
TABLE 2: Summary of Significant Intercepts (1.0g/t Au Cut-off)

Triumph Prospect Results

Drilling identified the best result of 2m @ 14.97g/t Au from 115-117m down hole in NMTRRC24 including 1m @ 25.82g/t Au from 115-116m. The next hole 75m to the north identified 1m @ 9.43g/t Au from 101-102m down hole in NMTRRC26, intersecting the same mineralised structure as that observed in hole NMTRRC24. The mineralisation remains open at depth and along strike. Future drill programs will continue to investigate the extent and tenor of this mineralisation.

Glengarry Prospect Results

Drilling identified the best result of 3m @ 13.09g/t Au from 46-49m down hole in NMTRRC32 including 1m @ 21.56g/t Au from 48-49m. The next hole NMTRRC34 75m to the north identified 1m @ 5.09g/t Au from 38-39m down hole. The next hole NMTRRC36 75m to the north identified 1m @ 2.69g/t Au from 38-39m down hole, and the next hole NMTRRC38 a further 75m to the north identified 1m @ 4.79g/t Au from 30-31m down hole. This represents a current known mineralised strike length of some 225m.

All of the shallow drillholes (target depth 50m) intersected significant mineralisation and the prospect remains open along strike, with 2 of the best intersection results occuring at the most southerly and most northerly holes drilled in the prospect. Future drill programs will investigate the potential for a high grade shallow (<80m) open pittable resource.

The shallow holes all had deeper holes drilled underneath them (target depth 80m), but whilst the structure containing the mineralisation intersected in the shallow holes was identified in the deeper holes, the mineralisation became weak, with the only significant intersection being in hole NMTRRC37 of 1m @ 1.57g/t Au from 68-69m down hole.

Geophysics

Nexus has utilised geophysics in its exploration approach to increase understanding of subsurface geology and associated structures and alteration systems. A methodical interpretation of ground magnetic data has outlined detailed lithological and structural trends, with geological mapping used to further constrain these surfaces and identify lithologies. The resulting map highlights prospective geological complexities and dilations. By then conducting an IP survey, mineralisation can be constrained along strike and delineated at depth through the presence of sulphide minerals associated with the gold mineralisation. Combining IP anomalies with ground magnetic data and the refined geological targeting map assists Nexus to ensure tailored and efficient drill programs to be planned to quantify the mineralisation.

This methodology can then be used, appropriately scaled to the geology of a narrow vein gold deposit, to constrain high resolution, high success targets within the previously identified ground geologically conducive to gold mineralisation. In addition to adding the recent RC drill results, a refined IP survey configuration can be addressed for future surveys. Interpreting the results using multiple processing techniques will provide enhanced anomaly resolution whilst correlating resistivity and chargeability signatures to mineralized and non-mineralised sulphide zones and host-rock lithologies.

 

Discussion

The recent drilling confirms the continuation of the high grade gold mineralisation identified at shallow levels and below the historic workings at the Triumph Gold Project.

Leapfrog 3D modelling of the results of this recent drilling has confirmed the presence of the mineralsied sub-vertical structure and identified a second set of shallow dipping mineralised structures. The predominant sub-vertical structure was intersected in the drill holes at the interpreted depths, and the secondary structures were intersected through the drill holes, dipping ~40 degrees to the north east. The intersection of these two structures has provided a focus trap for mineralisation resulting in elevated gold grades at these intersections.

The steep-dipping lodes are sub parallel to the high strain foliation mapped at the surface and tend to contain the highest gold grades and greater mineralised widths compared to the shallower ones. High grade shoots in the steep-dipping lodes appear to coincide with their intersection of shallower-dipping lodes, which imparts a gentle north plunge to them.

Gold has been found to be associated with two alteration styles.

Gold is most commonly found with quartz-sericite alteration, and within this alteration association gold is positively associated with quartz-pyrite veins that are parallel to the main schistosity. Lower grade gold intercepts in the quartz-sericite alteration association coincide with lower quartz vein material.

Gold was also found to be associated with fine grained pyrite disseminated along the schistosity. Material from these intervals was typically strongly weathered, which likely reflects the pervasive nature of the fine grained sulphides.

 

Future Work

A full and thorough interpretation and assessment of the drill results will be undertaken, in conjunction with all available data, to determine future exploration programs.
This work may include:

Triumph Prospect

A high resolution IP survey over the Triumph prospect area to further assist in understanding the sub-surface geology, structure and alteration systems, and to further aid drill location targeting.
Follow-up drilling of the Triumph prospect to determine the extent of the high grade mineralisation, open in all directions, intersected in drill holes NMTRRC24 and NMTRRC26.

Glengarry Prospect

Follow-up drilling of the Glengarry prospect to determine the extent of the shallow high grade mineralisation, open along strike, intersected in all of the shallow drill holes NMTRRC32, NMTRRC34, NMTRRC36 and NMTRRC38.

Ace of Hearts Prospect

Follow-up drilling of the Ace of Hearts prospect to determine the extent of the mineralisation at a shallower level than that intersected deeper in drill holes NMTRRC2, NMTRRC3, NMTRRC4, NMTRRC6, NMTRRC7 and NMTRRC8.

 

Appendix A – Triumph RC Drill Hole Locations

triumphn appendix a