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Nexus Gold Corp. (“Nexus” or the “Company”)(TSXV:NXS,OTC:NXXGF,Frankfurt:N6E)is pleased to announce that it has received a new work permit for its Bouboulou Gold concession located in Burkina Faso, West Africa. The new permit is for an initial term of three years, and can be renewed twice for a total term of nine years. “The new permit …
Nexus Gold Corp. (“Nexus” or the “Company”)(TSXV:NXS,OTC:NXXGF,Frankfurt:N6E)is pleased to announce that it has received a new work permit for its Bouboulou Gold concession located in Burkina Faso, West Africa. The new permit is for an initial term of three years, and can be renewed twice for a total term of nine years.
“The new permit puts Nexus in a favourable position with respect to our developmental timeline at Bouboulou and Burkina Faso in general. With numerous complex mineralized zones, this ensures that the property can be effectively explored, developed and advanced in all areas,” said President and CEO, Peter Berdusco. “The new permit now gives us the opportunity to timeline the development of the Bouboulou project to its full potential. In combination with our Niangouela project, this is an important advancement for the company and brings us a step closer to becoming a significant exploration and development company in West Africa,” continued Mr. Berdusco.
About the Bouboulou Gold Concession
The Bouboulou exploration permit covers an area of 38.8 -sq km approximately 75 kilometres north-west of the capital Ouagadougou and is accessible by paved road. The Bouboulou permit is located on the Boromo-Goren greenstone belt and is bisected by the Sabce shear zone.
This regional north-east trending structure hosts numerous artisanal workings along its 120- kilometre length and hosts the Bissa Hills deposit presently being mined by Norgold. Three 5km anomalous gold trends exist on the property along with numerous artisanal zones (orpaillages).
Gold mineralization was first identified at Bouboulou by Boliden in 1997 where a regional Rotary Air Blast (RAB) drilling program outlined a broad north-east trending gold anomaly measuring 13km by 2km over what is now the Bouboulou permit. The concession was then explored by Riverstone Resources and Roxgold Inc.
Highlights of these surface exploration programs include surface rock sampling and trenching that returned gold grades from 1.09 to 19.16 g/t. Four zones of gold mineralization have been identified on the property, termed Koala, Rawema, Bouboulou 2 and Pelgtanga. Roxgold later completed reverse circulation (RC) and diamond drilling (DD) to test the four mineralized zones.
Historical drilling highlights from each of the four zones:
* The above reported data are drill intercept lengths and not true widths
Bouboulou Trend Analysis
The Company has compiled historical data including airborne geophysics, Rotary Air Blast (RAB) drilling, geochemical sampling, reverse circulation drilling, diamond drilling and the location of orpaillages (zones of artisanal gold mining). The compiled data reviewed consists of over 7000 assays collected between 2011 and 2012.
This data displays three strong coincidental geochemical and geophysical anomalous gold trends. These trends extend from the four drill-identified mineralized zones, namely Rawema, Pelgtanga, Bouboulou 2 and Koala. Each of the three trends extends in length for 5000 meters (5KM). They are identified by numerous orpaillages and geochemical samples of greater than 1 gram per tonne gold.
All three of the Bouboulou trends identified are defined by similar coincidental anomalies. Each trend has substantial artisanal workings either directly on them or along the trend.
Map of the Bouboulou trends can be found here:
https://www.nexusgoldcorp.com/index.php/en/projects-3/bouboulou-gold-concession
About Burkina Faso
Burkina Faso is a landlocked nation, located in West Africa. It covers an area of roughly 274,000 square kilometres and has an estimated population of more than 16 million people. The country has a stable political setting with a pro-mining and foreign investment stance. Burkina Faso is the fastest growing gold producer in Africa, and was the 4th largest gold producer in Africa in 2012. Eight new mines have been commissioned there over the past six years. The country has excellent geological potential. The Greenstone Belts that host all of the major deposits in Ghana and Cote d’Ivoire continue northward into Burkina Faso. Burkina Faso has undergone less than 15 years of modern mineral exploration, remaining under-explored in comparison to neighbouring Ghana and Mali; both of which host world-class gold mines in the same belts of Birimian rocks.
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 concession is a 38-sq km advanced exploration target where previous drilling has confirmed multiple zones of gold mineralization. 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.nexusgoldcorp.com