Nex Metals Reports Extension of Gold Mineralisation at Yundamindra Project

Nex Metals Explorations Ltd (ASX: NME) has announced a major advancement in gold exploration at its Yundamindra Gold Project, Western Australia, through its joint venture with Arika Resources Ltd (ASX: ARI). New step-out drilling at the “Landed at Last” prospect has significantly extended the known gold mineralisation footprint, highlighting the project’s vast untapped potential.

The recently completed Phase 2 reverse circulation (RC) drilling campaign, comprising 22 holes over 2,362 metres, has successfully expanded the mineralised zone to over 800 metres in strike length and down to a depth of at least 150 metres. Notable intercepts include:

• 28m @ 1.40g/t Au from 70m, including 12m @ 3.01g/t Au and a peak 1m @ 24.12g/t Au (YMRC102)
• 17m @ 1.57g/t Au from 64m, with 1m @ 15.59g/t Au (YMRC111)
• 16m @ 1.24g/t Au from 66m, including 6m @ 2.45g/t Au (YMRC114)

These high-grade results affirm the presence of a tabular, NW-SE trending lode structure dipping shallowly northeast, and in some zones steepening at depth—highlighting the system’s geological complexity and potential.

Importantly, drilling has not only confirmed deeper extensions of known structures but also uncovered previously unidentified hanging wall lodes, opening up additional exploration targets. The results point to thickening mineralisation at depth and indicate that many areas remain untested, particularly beneath historic workings that only probed down to 50 metres.

The Landed at Last prospect lies within the highly prospective “Yellow Brick Road” corridor—an over 10km mineralised belt dotted with historic high-grade workings. Despite the corridor’s potential, it has undergone limited modern drilling. Arika’s updated geochemical and structural analysis has now identified over 50 new high-priority targets along both the western and eastern corridors.

This discovery is timely, especially given the proximity of the Yundamindra Project to the recently announced $44 million Guyer Joint Venture between Iceni Gold and Gold Road, located just south of Nex and Arika’s tenure. It further underlines the strategic positioning of the JV’s assets in one of Australia’s most prolific gold belts—the Laverton Greenstone Belt, host to over 28 million ounces of historical gold production.

Looking ahead, RC drilling is scheduled to resume shortly to build on this momentum, including follow-up at Landed at Last and other emerging targets like Pennyweight Point. Additionally, diamond drill assays are pending, which could further bolster the resource potential.