Nexus Minerals (ASX:NXM) announced financial results for the quarter ended 30 September 2022.

Assay results from drilling at Crusader-Templar Prospect continued to return broad high-grade zones of gold mineralisation.

Final assay results from the 68,951m reverse circulation (RC) drill program and 9,784m diamond drill program completed in June - now received across the 1.6km mineralised corridor.

Mineral resource estimate modelling work commenced.

Diamond drilling unlocks geology model.

Geology/mineralisation model "step-change" in resource modelling, informing future drill programs and regional ranking of key targets.

Gold mineralisation intersected in deep "feeder" structures and in the limbs and fold closures of shallow quartz porphyry units.

Branches Prospect drilling intersects near surface high-grade gold mineralisation.

Gold hosted in the same structural setting and "right rocks" that host Nexus' Crusader-Templar Prospect mineralisation - 3km along strike to the south.

Branches Prospect now defined over 650m in strike and open in all directions.

Assay results from 26 holes for 3,750m received.

Regional gravity survey completed - processing underway.

Multiple mineralised corridors and prospects being assessed for drill targeting.

Placement of approximately 27.8 million shares at A$0.18 per share to raise $5 million (before costs).

Placement proceed to advance drilling activities at the Crusader-Templar prospect and other regional exploration activities at the wider Wallbrook Gold Project.

Positive support received from new and existing shareholders reflecting confidence in the Company's ongoing exploration activities.

Following the announcement the company?s share price fell 2.631%.