Nelson Resources Maps Gold Point Targets as Drill Rig Heads to Site

Soil geochemistry outlines multiple targets at southern Gold Point

Nelson Resources (ASX: NES) has reported first-pass soil geochemistry results from the southern portion of its Gold Point Project in Nevada, USA, outlining multiple target areas within the Sylvania Intrusive Complex. Gold in soil peaks at 298 ppb, silver at 15.85 ppm, molybdenum at 44 ppm and tungsten at 10.25 ppm.

The Bazooka drill rig is in transit to site, with drilling set to commence in the “coming weeks”. No start date was given.

For investors, the appeal is a coherent set of targets in the same intrusive complex that already hosts the known high-grade gold-silver veins. Non-Executive Chairman Gernot Abl put it this way:

Gernot Abl, Non-Executive Chairman

“The soils have done what we wanted from a first pass…”

What the soils revealed

The anomalous tail is the signal

Soil sampling is a first-look tool, so the spread of results matters as much as the peak. Gold at the 95th percentile is 61 ppb, against a 60th percentile of 13 ppb. That gap tells you a small group of samples sits well above background, and those are the ones worth chasing.

Percentiles were calculated on a 133-sample population. Gold is reported in ppb, and all other elements in ppm.

Pathfinders match known mineralisation

Pathfinder elements are minerals that tend to occur alongside the metal being sought, so their presence in soil can point towards mineralisation below. Here, copper, silver and bismuth were elevated at the Greens Camp copper-oxide showing, about 1 km east of the Le Champ Cu-Mo-Au porphyry target.

Bismuth, lead, tellurium and tungsten were anomalous near the Ora May and North Star showings, and along strike of sheeted veins identified within the intrusion. The company says these results support previous mapping and prospecting and indicate mineralisation is more extensive than previously recorded.

Soil copper is modest, with a maximum of 143 ppm. The company notes this is expected from a partial digest (aqua regia) of mixed regolith, which is the loose surface material of soil and weathered rock.

Greens Camp float confirms copper oxides

Four selective dump and float rock chips from Greens Camp were assayed to confirm the mineralisation observed and reported on 24 August 2026. Chrysocolla is dominant, with subordinate malachite and chalcocite.

Standout copper results were:

1. GP0803: 16.60% Cu
2. GP0801: 4.17% Cu
3. GP0802: 3.51% Cu

GP0804 returned 0.38% Cu with silver of 8.0 g/t.

These are selective samples and are not representative of in-situ grade or width. Samples weighed 0.07-0.41 kg, and no field QAQC (quality assurance and quality control) was submitted with the batch.

The results sit alongside an earlier rock chip of 4.88% Cu. The company says the abundant copper oxides east of the Le Champ target strengthen the case for a “potentially district-scale copper association” linked to the Sylvania Intrusive Complex.

Why porphyry and skarn potential matters

Soil geochemistry means sampling the surface soil and testing it for trace elements. If certain elements cluster together, they can signal buried mineralisation, which lets explorers rank targets cheaply before drilling.

The announcement refers to three mineralisation styles within the complex:

• Porphyry (Cu-Mo-Au): copper-molybdenum-gold mineralisation linked to an intrusion.
• Skarn (Au-Ag-Cu-W): mineralisation formed where intrusive rock meets other rock types.
• Sheeted veins: intrusion-hosted gold-silver veins.

Molybdenum to 44 ppm and tungsten to 10 ppm are described by the company as consistent with the porphyry and skarn potential of the intrusive complex.

Strategy and next steps

The program supports a dual-track strategy: advancing the high-grade gold-silver vein systems (including underground work and upcoming drilling at Orleans and related historic mines) and evaluating the broader Cu-Mo-Au porphyry and skarn potential.

The status of the four soil program objectives was:

• Copper target footprint: Partially Complete
• Gold-silver sheeted vein characterisation: Partially Complete
• Multi-element vectors and zoning: Complete
• Integration with existing datasets: Complete

Mr Abl said the next step is to trace the anomalies back to in-situ positions. The announcement points to prospecting and rock chip sampling to follow up the anomalies, ahead of the drilling set for the coming weeks.

Project context from the announcement:

• Nelson has agreed to earn up to a 90% interest in the project
• The district has an endowment of more than 40Moz Au within a 90 km radius
• Reported pre-WWII production is approximately 75,000oz Au at an average grade of 20-30 g/t Au
• The project includes more than 5 km of underground workings across five historical mines
• The historic district has been consolidated under a single owner for the first time in more than 140 years

Keep the limits in view. This is reconnaissance sampling, which the company states is not intended for Mineral Resource or Ore Reserve estimation, so no resource is implied.

Editor’s note: the announcement’s highlights quote silver as 15.85 g/t, while Table 1 and the Chairman’s comments use ppm. This article uses ppm in line with Table 1.

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