Pinnacles Regional Gold Project

Nexus Minerals Limited iis pleased to announce it has secured a highly prospective package of ground in the Eastern Goldfields, approximately 100km northeast of Kalgoorlie (Fig 1 & 2).

Location

The Pinnacles Project is located in the Eastern Goldfields of Western Australia, some 100km northeast of Kalgoorlie. The Pinnacles Project tenements cover approximately 94km2. Nexus has applied for an exploration license (90% Nexus / 10% Pumphrey) that covers some 92km2. Terms have also been reached with a Kalgoorlie prospector for the purchase of a further 2km2 prospecting licence (Nexus 100%).

Historic Workings

The tenement package is immediately to the south of Saracen Gold Mines’ Carosue Dam mining operation, which includes the Whirling Dervish and Karari gold mines, currently in operation (Fig 3). During the 2014 year the two mines produced 79 000 ounces of gold, and contain a current resource base of some 1.4 million ounces.

 

Geology

The geological setting provides for a location between two large granite batholiths, where the basal sequence of basalt and dolerite is overlain by a volcaniclastic sedimentary sequence. Structurally the tenement is within a major regional shear zone, with the Yilgangi Fault (the southern extension of the Keith-Kilkenny Fault) and numerous large scale north-south regional structures evident. The district represents a large Archaean intrusion related alteration system that hosts significant gold mineralisation (Fig 4).