- Soil grid survey reveals three distinct gold geochemical trends
New artisanal zone discovered, samples up to 11.3 g/t Au
Vancouver, Canada / TheNewswire / June 11, 2019 – Nexus Gold Corp. (“Nexus” or the “Company“) (TSX-V: NXS, OTCQB: NXXGF, FSE: N6E) is pleased report it has received results from its 150-line kilometer soil geochemistry survey conducted on its 100-percent owned, 98-sq km Dakouli 2 exploration permit located in central Burkina Faso, West Africa.
The survey has identified three prominent gold geochemical trends. The primary gold trend parallels the Sabce fault zone extends for approximately 10 kilometers, in a northeast – southwest direction and bisects the property from the north east corner of the property to its western boundary.
Two secondary gold trends which extend for approximately 6.5 kilometers each are oriented in a northwest to southeast direction and bisect the primary trend. All three gold geochemical trends are coincidental to geophysical trends identified from the national regional airborne geophysics.
“The recent grid work has produced excellent results,” said president & CEO, Alex Klenman. “We have now established over 20 kilometers of gold trend, and with several areas already producing visible, nuggety gold from artisanal workings. We are anxious to drill Dakouli, and this work has given us a much better understanding of the areas we need to target. We feel Dakouli presents a higher-grade opportunity for us, and we intend to ramp up our exploration efforts there in the months to come,” continued Mr. Klenman.
The 150-line kilometer geochemical soil survey included line spacing of 200 meters with samples collected at stations established along the lines at intervals of 50 meters. A total of 3,358 samples were submitted to ACTLABS for analysis at their laboratories in Ouagadougou, Burkina Faso. The soil samples were analyzed utilizing the Au Cyanidation Atomic Absorption method. In addition to the laboratories internal QA/QC procedures the Company maintained its own QA/QC protocol of inserting standards, blanks and duplicates into the sampling stream.
During the survey a new area of artisanal workings was discovered, and rock samples collected from 40 meters depth at this new orpaillage returned gold values of 11.3 grams-tonne (“g/t”) gold (“Au”), 1.08 g/t Au, and 1.03 g/t Au, respectively. This orpaillage extends for some 200 meters and is located at the southern edge of the survey area.
The company is planning a detailed prospecting program to investigate these anomalous trends and new workings to identify and prioritize suitable drill targets.
Figure 1: Dakouli Soil Geochemistry
The Dakouli 2 exploration permit is located approximately 100 kilometers due north of the capital city Ouagadougou. The 98-square kilometer permit lies immediately south of the Company’s Niangouela property which has been explored over the past two years. Drilling at Niangouela has returned significant intercepts, including 26.69 g/t Au over 4.85m (including 1m of 132 g/t Au), and 4 g/t Au over 6m (including 20.5 g/t Au over 1m).
In late 2018 the Company conducted an initial mapping/sampling program at Dakouli 2, collecting 25 samples at that time. 11 samples returned values greater than 1 g/t Au and five samples exhibited various concentrations of coarse, nuggety, visible gold, returning assay values greater than 11 g/t Au. All 25 samples taken to date at Dakouli 2 have tested positive, with several returning significant gold values, including 27.5 g/t Au, 29.5 g/t Au and 17.6 g/t Au (see Company news release dated January 8, 2019).
The Dakouli 2 property is located on the Goren Greenstone belt and is bordered to the north by granitic rocks. It is also bisected by the Sabce Shear, a major structural fault zone proximal to multiple gold deposits, which trends southwest northeast and bisects the entire long axis of the property.
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Figure 2: Dakouli and Niangouela concessions with Sabce faults
Figure 3: Burkina Faso map showing mines & deposits in relation to Nexus properties
About the Company
Nexus Gold is a Vancouver-based gold exploration and development company with a portfolio of active projects in West Africa and Canada. The Company is concentrating its efforts on establishing a compliant resource at one or more of it’s four current West African-based projects which total over 560-sq kms (56,000+ hectares) of land located on active gold belts and proven mineralized trends, while also conducting developmental phases on its three 100%-owned Canadian projects, McKenzie Gold Project in Red Lake, Ontario, the New Pilot Project, located in BC’s historic Bridge River Mining Camp, and the GB Gold-Copper Project, located in Newfoundland. For more information please visit www.nexusgoldcorp.com.
Warren Robb P.Geo., Vice-President, Exploration, is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.
On behalf of the Board of Directors of
NEXUS GOLD CORP.
President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
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