Nexus Gold Signs Definitive Agreement To Acquire Niangouela Gold Concession, Burkina Faso, West Africa

Vancouver, Canada / TheNewswire / December 6, 2016 – Nexus Gold (TSXV:NXS; OTC:NXXGF; Frankfurt:N6E) is pleased to announce it has entered into a definitive agreement with Precision Resources SARL (the “Optionor”), pursuant to which Nexus will acquire the right to earn up to a 100% interest in the Niangouela gold concession located in Burkina Faso, West Africa.
Nexus will have an option to acquire up to a 90% interest in the Niangouela concession, in consideration for cash payments totalling US$370,000 and the issuance of 600,000 common shares, over a period of three years. Following acquisition of a 90% percent interest in the concession, Nexus will have a further option to acquire the remaining interest through a cash payment of US$1,000,000, subject to a 1.0% net smelter returns royalty to remain with the Optionor.
The 178 square kilometre concession is located on the Boromo Greenstone Belt, same as the Company’s Bouboulou Gold Concession and is proximal to the Kalsaka deposit. The property is road accessible and has one major orpaillage (artisanal workings).
“We are very pleased to add the Niangouela gold concession to our growing portfolio,” said President and CEO, Peter Berdusco. “It’s location is close to our Bouboulou project, so dedicating resources makes good logistical and fiscal sense. We look forward to beginning our exploration work there as historical data shows excellent potential.”
To date 556 pits and 11 trenches have been excavated, and rock and soil samples have been taken. A total of 1137 samples have been collected. Previous programs have identified a zone which runs ENE and WSW occurring in the south central part of the concession. This zone has returned gold in soil samples up to 34 g/t Au, rock samples have returned values up to 18 g/t Au, and trenching has returned values of 4.85 g/t Au over 10 meters. Recent rock samples taken by Nexus returned values from 1.12 g/t Au to 2.49 g/t Au.
Read the full press release.
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