Nexus Minerals Limited (ASX: NXM)
On 9th April 2025, Nexus Minerals Limited (ASX: NXM) finished a large aircore drilling program at its Wallbrook Gold Project in Western Australia. The key outcome from this program is the expansion and improved definition of the Payns Prospect and the incorporation of Target MC2.1 into the broader Clement Prospect. Target MC2.1 has seen its mineralised footprint grow to 650m x 250m with new intercepts such as 4m @ 1.73 g/t Au and 4m @ 1.68 g/t Au from 36 metres. These results build on previous high-grade intersections and demonstrate the target’s consistent mineralisation. The area is now recognised as a significant RC drill target, with drill planning underway. Another tested area, Target MC5.3, returned minimal mineralisation and will not be pursued further.
The Wallbrook Project’s position nearly north of Northern Star’s Carosue Dam operations provides logistical and geological advantages. Nexus’s tenements fall within a major structural corridor, enhancing their potential for meaningful gold discoveries. The consolidation of Nexus’s holdings in this region strengthens its overall exploration position. The company’s exploration approach remains organized, targeting shallow gold mineralisation to efficiently grow resources. Another regional aircore program is scheduled to begin in mid-April, with the company maintaining a strong financial position holding $5.17 million in cash at the end of March 2025.
In New South Wales, Nexus has acquired a substantial 15,000km² exploration tenure focusing on gold, copper, and critical minerals. Detailed magnetic, gravity, and radiometric data have been reprocessed to identify geological features and structures that control mineralisation. Work with Southern Geoscience Consultants has refined priority target zones, and on-ground activities are resuming in 2025. Alongside, the company is developing advanced rock characterisation tools through an R&D program.
Apollo Minerals Ltd (ASX: AON)
During the half-year ending 31 December 2024, Apollo Minerals Ltd (ASX: AON) focused on exploration activities at the Salanie Gold Project in Gabon. The company completed its maiden diamond drilling program at main prospects A1, A3, and P6—areas historically mined in the 1950s at high grades. Notably, shallow, high-grade gold was intersected at A1, with results including 11.7m @ 4.3g/t Au from 9.6m depth, featuring a higher-grade section of 5.8m @ 8.2g/t Au from 15.5m. Historical trenching near A1 supports these results, showing 10.3m @ 3.4g/t Au and 1.4m @ 15.7g/t Au. The mineralisation at A1 remains open along strike and dip, forming a focus for 2025 drilling. Drilling progress faced delays due to mechanical issues and the rainy season, though Phase 2 began in February 2025 with a new contractor targeting deeper and untested zones.
Apollo Minerals successfully secured funding through its Shortfall Offer and Entitlement Offer during the reporting period. The Shortfall Offer raised approximately $2.0 million, with an important portion of around $1.45 million contributed by a strategic investor and affiliates. The Entitlement Offer brought in gross proceeds of about $1.25 million. These capital raisings are intended to support the ongoing drilling and exploration programs, particularly at the Salanie Gold Project, and provide necessary financial flexibility for upcoming fieldwork.
Aside from gold exploration, the company advanced its base metals project at Kroussou. An initial JORC-compliant Exploration Target estimated between 140 to 300 million tonnes grading 2.0–3.4% zinc plus lead, highlighting substantial long-term development potential. Apollo held $1.68 million in cash and $528,000 in listed securities at 31 December 2024, with no debt. Net assets slightly declined by 3% to $10.53 million due to operational expenses, partially offset by capital raised during the half-year.
(Source: Company's Report)
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