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Nexus Gold - Innovative Carlin-type Gold Exploration in Nevada

Nexus Gold – Gold Exploration in Burkina Faso

Overview

Nexus Gold (TSXV:NXS; OTC:NXXGF; Frankfurt:N6E) is a Vancouver-based exploration company focused on gold development projects in premier mining and exploration districts. The company holds the Bouboulou Gold Concession in Burkina Faso, West Africa, and the Walker Ridge project in Nevada.

The Bouboulou Gold Concession is a near-surface, advanced-stage exploration target located in a known gold belt. Nexus Gold recently secured Falcon Drilling Burkina Faso SARL for an upcoming drill program at the Bouboulou Gold Concession, and discovered a new zone at Bouboulou due to an increase in artisanal mining activity.

Pro-mining Burkina Faso is one of the largest gold-producing countries in Africa. The country was ranked fourth in the continent and 23rd globally in Current Mineral Potential Index in The Fraser Institute of Canada’s “Survey of Mining Companies 2014.” There are currently seven gold mines in production in the country, which has excellent geological potential. With less than 15 years of modern mineral exploration, Burkina Faso remains under-explored compared to neighboring Ghana and Mali.

Walker Ridge is a drill-ready, multiple-target, a Carlin-type gold exploration project located in the Independence/Jerritt Canyon Gold Trend, an established, multimillion-ounce gold trend and one of five major gold districts in Nevada. Nexus Gold has spent $1 million in development work at Walker Ridge since 2012, including the first-ever drill hole that returned gold and silver mineralization in the lower plate host rocks.

Nexus Gold is also pursuing strategic acquisitions of advanced gold projects with the goal of building a portfolio of projects for development using element detection technology (EDT) alongside conventional exploration methods.

Investment Highlights

  • A new zone was recently discovered at the Bouboulou Gold Concession in Burkina Faso.
  • Previous drilling at Bouboulou confirmed multiple zones of gold mineralization, establishing both length and grade.
  • First mineral exploration company to use leading-edge EDT to complement traditional geophysical exploration techniques.
  • Thirty-eight points of interest identified in eight clusters using EDT survey.
  • Gold and silver mineralization identified in Walker Ridge lower plates.
  • A drill-ready, multiple-target, Carlin-type gold property located within one of Nevada’s five major gold trends.
  • $1 million of exploration work conducted to date on the Walker Ridge Gold Project including CSAMT, gravity, age-dating and first round of drilling.

Key Projects

Bouboulou Gold Concession

Covering an area of about 24 square miles 62 miles north by northwest of the capital city of Ouagadougou, Burkina Faso, the Bouboulou Concession features four zones of gold mineralization: Koala, Rawema, Bouboulou 2 and Pelgtanga. The concession is a near-surface, advanced stage gold exploration target located in a well-known gold belt. Previous exploration programs on the site discovered surface rock sampling and trenching returning gold grades from 1.09 to 19.16 g/t gold. Located at the north end of the Boromo greenstone belt underlain by alternating sedimentary-basalt-sedimentary-volcanic progression with northeast-southwest strikes, the property is bisected by the Sabce Shear Zone, host to numerous artisanal gold zones over a length of 75 miles and Norgold’s nearby Bissa Mine.

Nexus Gold - Innovative Carlin-type Gold Exploration in Nevada

Upcoming Drill Program

Nexus Gold recently contracted Falcon Drilling Burkina Faso SARL for an upcoming drill program on the Bouboulou Gold Concession. Falcon Drilling has extensive experience working for other resource companies drilling in Burkina Faso. Warren Robb, a Nexus Gold Director, will plan and oversee a 6,562-foot Phase One drill program at Bouboulou.

In September 2016, Nexus Gold discovered a new zone at Bouboulou due to an increase in artisanal mining activity. A company geologist noted artisanal miners working in an area with a shear hosted in meta-volcanics and meta-sediments with cross-cutting quartz veins and stringers. Eight grab samples were taken in the four known gold zones with six of the eight returning gold values, including 2.8 g/t Au and 5.5 g/t Au respectively at Bouboulou 2.

“The new area near Pelgtanga appears to be a deep structure,” said Robb. “We’re going to get a good look at it, but the increase in artisanal activity is interesting from an exploration perspective.”

Nexus Gold announced its initial work program at Bouboulou in July 2016. Preliminary work consisted of reviewing legacy data, compiling data, geological mapping, drill hole mapping and selection, rock and core geochemical re-sampling, ground confirmation, and sourcing the drill operator, equipment and crew.

Joint-Venture Partnership

Nexus Gold acquired the right to earn up to 100 percent interest in the Bouboulou Exploration Permit in Burkina Faso, West Africa in July 2016. Under the definitive agreement with Bureau D’Etudes des Geosciences et de L’Environnement, Nexus has an option to acquire up to 75 percent interest in the property for US$500,000 and 900,000 common shares of Nexus over three years. Following this, Nexus will then have the option to acquire 25 percent interest through a payment of US$1million with a one percent net smelter return royalty remaining with Bureau D’Etudes des Geosciences et de L’Environnement.

The Walker Ridge Gold Project

Located roughly 60 miles north of Elko, the drill-ready Walker Ridge project consists of 4,690 acres in Nevada’s Independence/Jerritt Canyon Trend and is located between the Jerritt Canyon and Big Springs properties. Jerritt Canyon holds an estimated 11 million ounces of gold in historic and current resources, while Big Springs has 1.2 million ounces of gold in inferred resources.

Walker Ridge is situated in an area of well-established infrastructure. It is about seven miles away from the mill complex at Jerritt Canyon, which is currently only at 50-percent capacity. The property is accessible via state highway 225, and the nearby city of Elko is a major mining hub in Nevada.

Nexus Gold - Innovative Carlin-type Gold Exploration in Nevada

Nevada produces about 75 percent of all the gold in the United States, and the state is the sixth-largest producer of gold worldwide. Mining has long been an important part of the state’s economy, and mining projects typically receive active support from all levels of government.

Nexus Gold’s vice-president of exploration, Douglas Oliver, has a storied history in the area, having identified and staked Walker Ridge for Tenneco Minerals in 1986.

Carlin-type Geology Similar to Nearby Deposits

Early exploration work on the property included geochemical targeting, which revealed a 3,200 by 3,200 meter “bullseye” of highly anomalous, geochemically defined pathfinder elements (antimony, arsenic, mercury) coincident to geophysical anomalies both in gravity and resistivity. A Carlin-age intrusion, as verified through uranium-lead radiometric age dating, has also been discovered in the same bullseye location, increasing the possibility for a Carlin-type deposit.

Nexus Gold - Innovative Carlin-type Gold Exploration in Nevada

Notably, Jerritt Canyon and Big Springs feature similar geochemical patterns, and antimony exploration at Jerritt Canyon eventually led to the discovery of gold deposits at the property.

2014 exploration program uses EDT to identify drill targets

During a 2014 exploration program, Vital GeoSURVEYS performed a geophysical survey using its leading-edge EDT. The proprietary technology allows for the in situ detection and mapping of signals specific to the targeted element — in this case gold. If the target element is present, a signature response is detected and the strength of these responses are measured and catalogued as “points of interest.”

The results of the 2014 EDT survey were included in a geophysical report that identified 38 points of interest occurring in eight clusters over a 2-square-mile area. Seven of the clusters identified correspond to data from Nexus Gold’s previous geophysical, geochemical and geochronological work at Walker Ridge. The data was used to “optimize drill-hole selection” in the planning of Nexus Gold’s 2015 drill program, which led to the discovery of gold and silver at Walker Ridge.

2015 Drill Program Confirmed Gold and Silver

A 2015 drill program at Walker Ridge focused on two of the eight clusters identified in the 2014 element detection survey. Assays from the program confirmed gold and silver mineralization in the lower plate host rocks on the property. Highlights include drill results from cluster #3:

  • 57 g/t gold over 15 feet (including 3.22 g/t over 5 feet); and
  • 66 g/t silver over 205 feet (including 18.25 g/t over 20 feet).

“Not only have these results strongly supported the geological data sets for the property’s two-square-mile bullseye target area, but they have also correlated extremely well with our model of mineralization in the lower plate. The discovery of mineralization at Walker Ridge is a significant milestone for our company and we look forward to further successes,” said Peter Berdusco, Nexus Gold’s President, CEO and Director.

Due Diligence on Strategic Acquisitions

In early 2016, Nexus Gold announced it was conducting due diligence on potential strategic acquisition targets, specifically undervalued advanced exploration and resource definition-stage gold deposits. The goal is to build a portfolio of projects for development using EDT alongside conventional exploration methods.

“The creation of a portfolio of advanced projects using EDT potentially enables us to drill year round and increase our access to financing,” explained Berdusco. “EDT represents a whole new way of exploring and defining resources. We believe Nexus is at the forefront of a technological advance in the industry and the upside of being a first mover is clear.”

Management

Peter D. Berdusco – President, CEO and Director

For the past 20 years Peter Berdusco has been an investor, business consultant, senior executive and board member in the public and private markets. Over the last 10 years, through his private consulting firm Berdusco Enterprises, he has fulfilled executive management, corporate development and strategic planning roles. Further to this, he has successfully raised financing for junior public companies including GFK Resources and Midnight Sun Mining Corp. His experience as a board member includes a founding directorship with Giantstar Ventures, a TSX Venture Capital Pool Company, which successfully acquired Chalk Media Corp. In 2009 he founded as senior partner, Falcon Point Capital Partners, a firm specializing in capital services for publicly traded companies.

Alex Klenman – Chairman, and Chief Operating Officer

Alex Klenman brings over 25 of business development, marketing, finance, media and corporate communications experience. He has held senior management positions in both the public and private sectors. Since 2008 he has served as a communications consultant for several TSX-V listed resource companies, including among others Roxgold and Forum Uranium. Klenman also spent ten years in broadcasting, which included notable board positions with CKVU Television in Vancouver and Canwest Pacific Television. 

Douglas Oliver, MBA, Ph. D – Vice-President, Exploration

Douglas Oliver is a career geologist who received his Bachelor’s degree in Geology from Rutgers University, an MBA from the University of Texas at Austin, and a PhD in Tectonics from Southern Methodist University. His more than 30 years in mineral exploration has focused on precious metals in the western United States, particularly in Nevada, as well as Alaska, Canada, Mexico, Latin America and Africa. His Nevada experience includes Senior Geologist positions with Occidental Minerals and Tenneco Minerals and he has consulted for over half a dozen companies on projects and acquisitions across the state. As VP of Exploration for Meadow Bay Gold, Oliver led in the discovery of Nevada’s first porphyry-host gold deposit at the Atlanta Project. 

Michael W. Kinley, CA – Chief Financial Officer and Director

Michael Kinley received his Bachelor of Commerce degree from Mount Allison University in 1971 and his Chartered Accountant designation in Ontario in 1973. He earned his designation with KPMG, where he spent 20 years (1971-1991), the last 10 as a partner. During the past 20 years Kinley has served as an officer/director for a number of resource companies listed on the TSX and TSX Venture Exchanges, including Cardero Resources, Wealth Minerals, Indico Resources, International Tower Hill Mines, Dorato Resources and Trevali Resources. 

Warren Robb, P. Geo – Director

Warren Robb graduated from the University of British Columbia in 1987 with a Bachelor of Science in Geology and brings over 25 years of mineral exploration experience to Columbia Star Resources. Robb has worked for both senior and junior mining companies and has extensive operational and drill program management experience ranging from small preliminary testing to expansive programs for ore reserve definition to mining operations. Robb has managed exploration programs for precious and base metals throughout Canada, the United States, China, Africa and South America. In 2012, Robb served as Chief Geologist for Roxgold, where he supervised both field exploration and the diamond drilling program on the company’s Yaramoko gold property in Burkina Faso, West Africa.

Dean W. Humphreys, B.Sc., MBA, CMA—Director

Dean Humphreys has been actively involved in public markets for over 20 years, specializing in oil and gas, precious metals, and technology.  He was Chief Financial Officer for Columbia Star Resources from 2011 through 2013, and has held executive management roles in the entertainment and technology sectors.  He has secured financing for numerous private ventures and as co-founder of Canada’s first marine brewery, was instrumental in raising $6MM for its development. Humphreys holds a Bachelor of Science degree, an MBA in Finance and Statistics, and is a candidate member of the Certified Management Accountants of BC.

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