Nexus Gold Corp. (TSXV:NXS,OTC:NXXGF,Frankfurt:N6E) is pleased to announce initial assay results from its recent diamond drill programs conducted on both the Niangouela and Bouboulou gold concessions, in addition to sampling conducted at the newly acquired Rakounga gold concession, all located in Burkina Faso, West Africa. – Nine of 10 holes from maiden drill program at Bouboulou intersected … Continued
Nexus Gold Corp. (TSXV:NXS,OTC:NXXGF,Frankfurt:N6E) is pleased to announce initial assay results from its recent diamond drill programs conducted on both the Niangouela and Bouboulou gold concessions, in addition to sampling conducted at the newly acquired Rakounga gold concession, all located in Burkina Faso, West Africa.
– Nine of 10 holes from maiden drill program at Bouboulou intersected gold
– 4.41 g/t Au over 8.15m, including 23 g/t Au over 1m at Bouboulou
– 5.21 g/t Au over 3.05m, including 15.5 g/t Au over 1m at Bouboulou
– 1.04 g/t Au over 23m, including 4.1 g/t over 1m at Bouboulou
– 1.23 g/t Au over 9m, 1.1 g/t Au over 4m at Niangouela
– Sampling as high as 17.3 g/t Au at newly acquired Rakounga concession
“We are very pleased with our assay results from both Bouboulou and Niangouela, as they have significantly furthered our exploration efforts,” said President & CEO, Pete Berdusco. “Specifically, with Bouboulou, we have confirmed historical data, and the zones carrying high-grade gold. We extended intercept lengths with good mineralized continuity, and we’ve extended the depth of the mineralization. The next phases of drilling will continue to define the zones which are open in all directions with the goal of eventually defining a resource,” continued Mr. Berdusco.
Bouboulou Gold Concession – Phase One
The Company has received results from all ten holes from its maiden diamond drill program at the Bouboulou concession which concluded in mid-July. Nine of the 10 drill holes successfully intersected significant gold mineralization. The highlights are as follows: BBL-17-DD-001 returned 6.19 grams per tonne gold (“g/t Au”) over 1.0m; BBL-17-DD-002 returned 2.22 g/t Au over 1.0m; BBL-17-DD-003 returned 3.48 g/t Au over 1.52m; BBL-17-DD-004 returned 5.06 g/t Au over 1.52m; BBL-17-DD-006 returned 1.04 g/t over 23m, including 4.10 g/t over 1.0m; BBL-17-DD-007 returned 5.21 g/t Au over 3.05m, including 15.5 grams g/t Au over 1.0m; BBL-17-DD-008 returned 4.41 g/t Au over 8.15m, including 23 g/t Au over 1.50m. These and other intercepts are tabled below:
|Hole||Dip||From (metres)||To (metres)||Intersection (metres)||Gold (grams /tonne)||Zone|
Note all assay results represent intercept lengths and are not true widths
The drill program instituted at Bouboulou was designed to test and extend either along strike or at depth the zones previously identified on the property. Drilling consisted of 10 holes totaling 2596 meters with two holes testing each of four identified zones (Rawema, Pelatanga, Bouboulou 2 and Koala) and one additional zone, Bouboulou 1, located at the southern boundary hosted on the recently acquired Rakounga property.
“The gold mineralization remains wide open to depth and along strike at all of our Bouboulou targets, and a little surprise at Koala with two greater than 10-gram assays,” said Senior Geologist, Warren Robb P.Geo. “I am really pleased with our results and look forward to expanding these zones at Bouboulou,” continued Mr. Robb.
Niangouela Gold Concession – Phase Two
The Company is also reporting results from its phase two diamond drill program on the Niangouela concession, which concluded in mid-May. The phase two program consisted of 2549.5 meters of diamond drilling and 387 meters of trenching. The program was designed to test strike and depth extensions on the mineralized gold bearing shear zone, which the Company identified in the first phase of drilling reported in March 2017, and to test new targets identified by prospecting. Highlights of these holes are tabled below:
|DRILL HOLE||From (m)||To (m)||Intersection (m)||Au (g/t)|
Note all assay results represent intercept lengths and are not true widths
The phase two drill program tested the strike extension of the mineralized quartz vein and shear discovered in the first round of drilling and to test new areas of potential gold mineralization. Drill holes 15 to 25 were drilled to test the down dip and westerly extensions of the shear zone identified in our first phase of drilling. Holes 15, 16, 17, 18, and 25 successfully intersected the zone. The data indicates the high-grade portion (or shoot) of the shear zone is contained within approximately 225 meters of strike bounded by holes 18 and 24 on the west, and holes 13 and trench one, on the east. The gold mineralization has been verified to depths of 145 meters below surface. The structure remains open at depth. Holes 19-24 were drilled in a systematic fashion testing the westerly strike of the shear zone. Although all the holes did intersect the shear zone no economic gold intercepts were recovered.
The 387 meters of trenching was completed in six trenches designed to test strike extension of the main mineralized zone and to test other quartz veins identified by prospecting. Trench 3 returned 0.34 g/t Au over 5m, including 1.56 grams g/t Au over 1m. The remaining trenches did not return significant results.
All rock and drill core samples were analysed at either Actlabs Burkina SARL or ALS Global Burkina SARL Laboratory utilizing either fire assay or Aqua Regia digestion and atomic absorption finish. The company maintains a Quality Control and Quality Assurance program of inserting at regular intervals standards and blanks as well as requiring duplication of samples and comparisons of duplicates between commercial labs.
“Its looking like the high-grade zones at Niangouela could be vertical flexes within the shear,” said Senior Geologist, Warren Robb. “This latest round of drilling really helped us get a better understanding of the project dynamics, and I look forward to chasing and hopefully extending those 100-plus gram assays from earlier this year to depth,” continued Mr. Robb.
The Company is planning follow up work to include drill testing the main shear to depth. The main shear has displayed high-grade gold mineralization and as of the completion of the phase two drilling the zone remains open to depth.
Rakounga Gold Concession – Sampling Results
The Company is also pleased to report results from prospecting from artisanal workings on the newly acquired Rakounga property. In mid July as part of the company’s due diligence program Nexus geologists prospected a single large orpaillage on the Rakounga property which is contiguous with the Bouboulou permit. Initial rock samples from dumps of the workings returned values up to 17.3 g/t Au. Additional samples returned values of 2.33 and 1.45 g/t Au, respectively. The orpaillage investigated measured over 800 metres along strike and workings extended up to 20 meters wide along the strike length. Company field crews are currently prospecting two newly found orpaillages roughly parallel to the one mentioned above.
About the Company
Nexus Gold Corp. is a Vancouver-based gold exploration and development company operating in some of the world’s premier mining districts. The Company is currently concentrating its efforts on two gold projects located in Burkina Faso, West Africa. The Bouboulou gold project consists of the 38-sq km Bouboulou claims and the adjacent 250-sq km Rakounga gold concession. The Niangouela gold concession is a 178-sq km project featuring high grade gold occurring in and around a primary quartz vein 1km in length and associated shear zone. For more information on these projects, please visit the Company website at www.nexusgoldcorp.com.
Warren Robb P.Geo., Senior Geologist 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 and Chief Executive Officer
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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