Nex Metals forms joint venture for project

• Nex Metals Explorations executed an agreement via a joint venture with the Wangkatja Tjungula Aboriginal Corporation to pursue the West Point Gold Copper Project.
• The company reported that the project was acquired at minimal cost, though specific transaction financials were not disclosed.
• Management stated the acquisition fits its strategy of securing drill-ready assets with near-term development potential.

Nex Metals (ASX:NME) initiated a strategic joint venture with the Wangkatja Tjungula Aboriginal Corporation to target a gold-copper exploration licence in Western Australia.

The joint venture applied for exploration licence ELA52/2564 covering the West Point and Clever Mary prospects, which feature historical exploration data spanning a 5.2-kilometre zone.

"This acquisition of a drill ready Project with near term development opportunities represents the methodology and rationale we are applying within the joint venture," said Nex Metals Managing Director Ken Allen.

Previous explorers completed over 7,200m of reverse circulation, rotary air blast, and diamond tail drilling across the prospects alongside soil geochemistry work.

The venture plans to review historical pre-JORC 2012 resource estimates for potential upgrades to modern standards once statutory approvals are finalised.

Following the announcement, the Nex Metals share price was unchanged at $0.011.

The company maintains active mineral interests across Western Australia, including regional gold projects in the Eastern Goldfields.