Nexus is tanking as investors respond to a company announcement out of its Crusader–Templar Prospect, located within the Company's Wallbrook gold project in WA.

Nexus shares have sunk as low as 33 cents early on today before levelling back off at the current levels. This downside extends selling pressure that's been in situ since 13 December for the company. With that in mind, let's take a look at what was released.

What did Nexus announce today?

Nexus advised of what it dubbed as "high-grade assay results" from recent drilling at the Crusader–Templar Prospect.

The release pointed to a figure showing the "limited amount of drilling undertaken to date and the opportunity that exists both within the known strike distance and also at depth".

Nexus says that as more drilling is completed from its reverse circulation (RC) drilling program, the density of drilling will increase, and internal characteristics to the mineralisation "including internal plunge geometry to the mineralisation will mature".

Specifically, the release noted that the "alteration" observed in diamond hole number 4 that did not correspond to mineralisation, is believed to be a function of a "very late-stage cross cutting oblique structure"

Playing a level tone, the company explained that the drill hole represents "only a point in space, and a very small component of the total strike length, [however] this late-stage structure has provided a conduit for increased fluid flow/silica flooding but in doing so has re-mobilised the gold".

Aside from that, the company added that gold mineralisation tenor and widths observed to date are consistent with broad mineralisation in the shallower levels of less than 100 metres. Two holes at this range are at 29m at 4.60g/t Au within 71m at 2.06 g/t Au from 25m and 16m at 2.31g/t Au within 68m at 0.98g/t Au from 28m, per the release.

These shallow levels then give way to "broad high-grade intersections" at depths of more than 100 metres, including 13m at 5.17g/t Au, within 25m at 2.95g/t Au from 109m and 5m at 4.93g/t Au, within 8m at 3.31g/t Au from 115m.

As such, Nexus explained it has 3 RC drill rigs and 2 diamond drill rigs booked for a January start, and a 50 person exploration camp ready to be established at Wallbrook in early January, to cater for "significant increase in exploration activity" in 2022.

Management commentary

Speaking on the announcement, Nexus Managing Director Andy Tudor said:

The broad high-grade gold results continue to impress and build our confidence in the continuity of the high-grade gold mineralisation at Crusader-Templar. The results from DDH#4, which appears to have been drilled down a cross-cutting post-mineralisation structure, continues to increase our understanding of the gold distribution in this very large system.

Despite its recent challenges, the Nexus share price has soared 196% in the last 12 months, after rallying a further 185% this year to date.

In the past month, it has reversed course and is 33% in the red after sliding another 37% in the past week of trading.

The post Nexus Minerals (ASX:NXM) share price plunges 27% as drill results fall short appeared first on The Motley Fool Australia.

At the time of writing, Nexus shares are up a sizeable 22% to an all-time high of 61 cents. In the past week alone, its shares have now risen more than 32%.

Nexus completes placement

Investors are buying up Nexus shares as the company seeks to progress its exploration activities at the Wallbrook Gold Project.

According to its announcement, Nexus said it has received firm commitments for its institutional placement to raise $19 million before costs. The company highlighted that it had strong support from both domestic and offshore institutional investors.

The offer will see approximately 41.3 million new ordinary shares issued at a price of 46 cents apiece. This represents an 8% discount to the last closing price of 50 cents on 10 November (before going into a trading halt).

The company will primarily use the proceeds to fund drilling activities at the Crusader-Templar prospect and other regional exploration activities.

In particular, the funds will be allocated to the following:

• Crusader-Templar Prospect reverse circulation and diamond drill programs;
• Solomon Prospect reverse circulation and diamond drill programs;
• Regional target generation and aircore, reverse circulation and diamond drill programs;
• Regional geophysical surveys; and
• General working capital.

Settlement of the new shares is expected to occur on Monday 22 November.

Nexus managing director Andy Tudor commented:

The proceeds from the placement will allow Nexus to expedite and ramp-up exploration programs at the Wallbrook Gold Project, where the company has been having exploration success at the Crusader-Templar Prospect in recent drill programs. To have achieved such a strong level of institutional and sophisticated investor support for the placement was very encouraging and a strong endorsement of the company's endeavours.

Nexus Minerals share price summary

Adding to today's gains, Nexus shares have pushed around 250% higher in the past 12 months. However, when looking at year-to-date, the company's shares are hovering around upwards of 370%.

Based on valuation grounds, Nexus presides a market capitalisation of around $150.46 million, with almost 247 million shares outstanding.

The post Why the Nexus Minerals (ASX:NXM) share price is rocketing 22% to an all-time high today appeared first on The Motley Fool Australia.

During morning trade, the gold explorer's shares reached a record high of 49.5 cents. However, profit-taking has led its shares in negative territory, down 2.3% to 42.5 cents at the time of writing.

High-grade gold mineralisation

In a statement to the ASX, Nexus advised it has received high-grade assay results from its drilling operations.

Strong gold mineralisation has been detected from one diamond hole and two RC holes within the company's Wallbrook gold project.

Diamond hole #3 yielded the following intercept result:

• 4.61 meters at 5.78 grams per tonne of gold (within 18.38 meters at 2.40g/t Au from 123.72 meters).

Both diamond drill holes #3 and #4 were tested from the surface to a depth of 600 meters, intersecting mineralisation. While the results for drill hole #3 have been collected, assays are still pending for drill hole #4.

The two RC drill holes (#199 and #201) are highlighted below, respectively:

• 4 meters at 4.13 grams per tonne of gold (within 12 meters at 1.72g/t Au from 200 meters); and
• 8 meters at 1.99 grams per tonne of gold (within 40 meters at 0.82g/t Au from 44 meters).

While these holes indicated promising mineralisation, five other RC holes were halted due to poor drilling conditions. As such, Nexus will now use diamond tails to extend the five holes to their desired depth.

No timeline has been given by the company of when it expects to complete the remaining holes to be tested.

Nexus managing director, Andy Tudor commented:

These broad high- grade results received from DDH#3 at Templar are in line with our expectations. What has significantly exceeded our expectations is the alteration style and mineralisation observed in both DDH#3 and the recently completed deeper diamond hole #4. They exhibit the same style that hosts the multi-million-ounce Karari deposit 30km to the south.

This has now linked the Crusader-Templar alteration and mineralisation style with that of Karari, providing confidence in the potential for the Crusader- Templar Prospect to evolve into a very large mineralised system.

About the Nexus Minerals share price

Over the last 12 months, Nexus shares have accelerated by more than 220%, with year-to-date also up 220%.

Based on today's price, Nexus commands a market capitalisation of roughly $104.2 million and has approximately 245.16 million shares outstanding.

The post Why the Nexus Minerals (ASX:NXM) share price just leapt to an all-time high appeared first on The Motley Fool Australia.

Nexus shares are on the rise despite there being no market sensitive news for the company, however, September was a great month for the gold exploration company.

Here are the details.

What's up with the Nexus Minerals share price today?

The Nexus Minerals share price popped from zero to a hundred to walk into September after the company made a key drilling announcement.

At the time, Nexus noted it had intersected a significant new discovery at its Templar gold prospect in Western Australia.

The company's reverse circulation (RC) drilling program at the site produced high-grade assay results, plus intersected broad and high-grade gold.

The release notes the mineralisation is the "same style as (the) Crusader prospect – 1.2km south".

As such, the assay results announced effectively "link" the two prospects together, presenting a "mineralised corridor (that) now extends over 1.6km of strike".

The Nexus Minerals share price soared from 147% from 15 cents to 37 cents in the week after this announcement and has continued its journey northwards since.

Now it appears investors are chasing more of the story, with the price of Gold jumping from US$1,726/t.oz to US$1,751.t.oz from 29 September.

And the trend of the day looks established in the ASX gold basket, with the S&P/ASX All Ordinaries Gold Index (XGD) climbing 1.02% higher so far today, in direct contrast to the broader indices.

For instance, the S&P/ASX 200 (ASX: XJO) benchmark index is sliding 2% into the red as we approach the market close today.

Nexus Minerals share price snapshot

The Nexus Minerals share price has soared 207% this year to date, well ahead of its benchmarks.

It rallied 176% over the past month and climbed a further 14% this past week alone.

The post Why is the Nexus Minerals (ASX:NXM) share price rocketing 28% today? appeared first on The Motley Fool Australia.

At the time of writing, the gold explorer's shares are up 34% to a record high of 39.5 cents.

This means the Nexus Minerals share price is now up 340% in the space of a month.

Why is the Nexus Minerals share price racing higher?

Investors have been bidding the Nexus Minerals share price higher in recent weeks following the release of several drilling updates.

The most recent came last week when the company revealed a significant gold discovery at its Wallbrook Gold Project in the eastern goldfields of Western Australia.

According to the release, Nexus Minerals achieved high-grade assay results from 13 reverse circulation (RC) holes drilled at the Templar Prospect within the Wallbrook Project.

Nexus' Managing Director, Andy Tudor, commented: "These broad high grade results received from Templar occur in the same altered and mineralised rocks we see at the Crusader prospect, 1.2km to the south. This has effectively linked the two prospects together into one large mineralised system. Nexus is the first company to drill the Templar prospect and we are very proud of the work our exploration team has contributed leading to this discovery."

What's next for the company?

More drilling is on the way for Nexus Minerals. It advised that future drill programs at Templar will test for depth extensions to the mineralisation.

The drilling will also test for further strike extensions to the Crusader/Templar mineralised corridor that currently extends over 1.6km of strike and is constrained only by the extent of drilling completed by the company to date.

Based on the current Nexus Minerals share price and its share count, the gold explorer has a market capitalisation of just under $100 million. Time will tell whether it has a mineral resource that backs up this valuation.

The post The Nexus Minerals (ASX:NXM) share price is up 34% today and 340% in a month appeared first on The Motley Fool Australia.

The company has announced its intercepted numerous high-grade discoveries at its Templar Prospect.

Right now, the Nexus share price is 22 cents. That's a whopping 46.67% higher than its previous close and marks a new multi-year high.

Let's take a closer look at the news driving the Nexus share price today.

Nexus' new discovery

The Nexus share price is surging today following the company's newest discovery.

Nexus has received assay results from 13 reverse circulation drill holes conducted at its Templar Prospect.

The prospect is located within Nexus' Wallbrook gold project in Western Australia's goldfields.

Gold mineralisation at the Templar Prospect is hosted in the same stockwork as that of the company's nearby Crusader Prospect. The company, therefore, believes the prospects are part of the same mineralisation system.

The Templar Prospect's assay results include:

• 10 metres at 5.64 grams of gold per tonne (within 23 metres at 85 grams of gold per tonne from 132 metres)
• 6 metres at 6.21 grams of gold per tonne (including 4 metres at 9.24 grams of gold per tonne from 90 metres)
• 2 metres at 11.02 grams of gold per tonne (from 220 metres)
• 28 metres at 3.64 grams of gold per tonne, including 4 metres at 10.11 grams of gold per tonne (within 72 metres at 1.68 grams of gold per tonne from 24 metres)
• 4 metres at 5.07 grams of gold per tonne (within 20 metres at 1.42 grams of gold per tonne from 176 metres)
• 4 metres at 2.37 grams of gold per tonne (within 36 metres at 1.10 grams of gold per tonne from 24 metres)
• 8 metres at 1.56 grams of gold per tonne (within 16 metres at 1 gram of gold per tonne from 76 metres)
• 24 metres at 1.08 grams of gold per tonne (from 24 metres)

Commentary from management

Nexus' managing director, Andy Tudor, commented on the news driving the company's share price today, saying:

These broad high grade results received from Templar occur in the same altered and mineralised rocks we see at the Crusader prospect, 1.2 kilometres to the south. This has effectively linked the two prospects together into one large mineralised system. Nexus is the first company to drill the Templar prospect and we are very proud of the work our exploration team has contributed leading to this discovery.

Nexus share price snapshot

Today's gain has placed the Nexus share price well and truly in the ASX green.

Right now, it's 53% higher than it was at the start of 2021. It has also gained 207% since this time last year.

At its current share price, the company has a market capitalisation of around $53.7 million.

The post Nexus Minerals (ASX:NXM) share price soars 47% on new gold intercepts appeared first on The Motley Fool Australia.