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Nexus Gold Corp. (TSXV:NXS, OTC:NXXGF, FSE:N6E) is pleased to announce assay results from its reverse circulation (“RC”) drill program on its Rakounga gold exploration permit located 100 kilometers north of Ouagadougou, Burkina Faso, West Africa.
Nexus Gold Corp. (TSXV:NXS, OTC:NXXGF, FSE:N6E) is pleased to announce assay results from its reverse circulation (“RC”) drill program on its Rakounga gold exploration permit located 100 kilometers north of Ouagadougou, Burkina Faso, West Africa.
Significant results were returned from drilling at the Koaltenga orpaillage where drill holes RKG-17-RC-008 returned 34 metres of 1.00 grams per tonne (“g/t”) gold (“Au”), including four metres of 5.60 g/t Au, and drill hole RKG -17-RC-009, which returned 22 metres of 0.57 grams per tonne gold, including four metres of 2.01 g/t Au.
The RC drill program was designed to test three artisanal workings (“orpaillages”), Namely Koaltenga, Porphyry and Gounga. A total of 10 holes were drilled on the Koaltanga while five holes were drilled on each of the Porphyry and Gounga orpaillages, respectively. The program was designed to test for gold mineralization extent along strike and to depth of structures being worked by the artisanal miners.
Significant results of the completed 10-hole Koaltenga drill program are tabled below:
| KOALTENGA | |||||
| HOLE | DIP | FROM (metres) | TO (metres) | LENGTH (metres) | GRADE (grams/tonne) |
| RKG-17-RC-001 | -50 | 102 | 128 | 26 | 0.82 |
| INCLUDES | 108 | 110 | 2 | 4.11 | |
| 110 | 112 | 2 | 2.44 | ||
| 112 | 114 | 2 | 2.36 | ||
| RKG-17-RC-002 | -50 | 108 | 140 | 32 | 1.01 |
| INCLUDES | 112 | 114 | 2 | 2.36 | |
| 114 | 116 | 2 | 2.99 | ||
| 116 | 118 | 2 | 3.10 | ||
| 120 | 122 | 2 | 5.65 | ||
| RKG-17-RC-003 | -50 | 108 | 114 | 6 | 1.07 |
| RKG-17-RC-006 | -50 | 84 | 88 | 4 | 1.38 |
| 106 | 122 | 16 | 0.34 | ||
| RKG-17-RC-008 | -50 | 102 | 136 | 34 | 1.00 |
| INCLUDES | 116 | 118 | 2 | 1.80 | |
| 124 | 126 | 2 | 1.76 | ||
| 126 | 128 | 2 | 6.05 | ||
| 128 | 130 | 2 | 5.09 | ||
| RKG-17-RC-009 | -60 | 134 | 156 | 22 | 0.57 |
| INCLUDES | 134 | 138 | 4 | 2.01 |
* Note the company incorrectly reported the intercept from hole RKG-17-RC-006 of 1.38 grams per tonne as occurring in drill hole RKG-17-RC-005 in its previous news release dated Nov 16, 2017.
All reported results are intercept lengths and are not true widths.
“The drill program at Koaltenga has successfully identified a broad zone of gold mineralization extending over 300 meters along strike and to depths of 80 metres below surface,” said senior geologist, Warren Robb. “Three separate intercepts of near a gram over 30 meters is compelling. This structure remains open along strike both to the north east and south west and to depth.
“The workings at Koaltenga extend for at least another 300 meters to the northeast. Given the intercepts we have encountered thus far, the workings to the northeast will constitute our primary target for our next round of drilling. The fact that each of these board intercepts contained zones running 4 to 6 grams suggests a prominent primary structure which has permeated out into the surrounding schists and volcanic rocks enriching the gold values there, should we be fortunate enough to see this trend continue it would certainly enhance any potential economics to the project,” continued Mr. Robb.
Drilling from the Porphyry orpaillage located some 800 meters south east of the Koaltanga orpaillage was tested with five holes. Gold mineralization was encountered in four of the five holes highlights are tabled below:
| PORPHYRY | |||||
| HOLE | DIP | FROM (metres) | TO (metres) | LENGTH (metres) | GRADE (gram/tonne) |
| RKG-17-RC-013 | -50 | 58 | 90 | 40 | 0.19 |
| INCLUDES | 68 | 78 | 10 | 0.29 | |
| RKG-17-RC-014 | -50 | 108 | 148 | 40 | 0.19 |
| INCLUDES | 110 | 128 | 18 | 0.25 | |
| RKG-17-RC-015 | -50 | 38 | 80 | 42 | 0.26 |
“We did not encounter gold values as high as we did at Koaltenga, but the fact that we have intercepted anomalous gold values over lengths of up to 38 meters attests to the gold enrichment occurring within this area of the permit and may be indicative of a larger gold system occurring around the intrusive rocks at the Porphyry orpillage,” commented Mr. Robb.
| GOUNGA | |||||
| HOLE | DIP | FROM (metres) | TO (metres) | LENGTH (metres) | GRADE (gram/tonne) |
| RKG-17-RC-017 | -50 | 124 | 168 | 44 | 0.11 |
| RKG-17-RC-019 | -50 | 30 | 48 | 18 | 0.11 |
| RKG-17-RC-020 | -50 | 152 | 174 | 22 | 0.19 |
Results from Gounga were generally low given the extent of the workings on surface. Drill holes RKG-17-RC-17, RKG-17-RC-019 and RKG-17-RC-20 did return anomalous values from a black mudstone with abundant pyrite occurring along bedding planes.
“The Company is extremely encouraged by the assay results returned from the drilling at Rakounga, given its proximity to the company’s adjacent Bouboulou permit,” said Mr. Robb. “These current drill results now outline a trend of gold occurrences extending for 16 kilometres, from the Pelatanga workings occurring on the Bouboulou 1 permit to the Koaltenga workings centrally located on the Rakounga permit. The Company is currently formulating an exploration program that will outline the economic potential of its known gold showings and outline further gold occurrences,” continued Mr. Robb.
About the Rakounga – Bouboulou Gold Concessions
The 250-sq km Rakounga concession borders the Company’s 38-sq km Bouboulou concession. The Company recently announced results from its maiden diamond drill program at Bouboulou, with nine of the first 10 holes successfully intersecting gold. Highlights of that program include 4.41 g/t Au over 8.15m, including 23 g/t Au over one metre, 5.21 g/t Au over 3.05m, including 15.50 g/t Au over one metre, and 1.04 g.t Au over 23m. To date a total of eight gold bearing zones have been identified at the Bouboulou and Rakounga concessions.
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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.
Peter Berdusco
President and Chief Executive Officer
604-558-1920
www.nexusgoldcorp.com
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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Source: www.thenewswire.com