Nexus Gold to acquire Niangouela gold concession

Nexus Gold signs letter of intent to acquire Niangouela Gold concession, Burkina Faso.
Nexus Gold Corp.(TSXV:NXS; OTC:NXXGF; Frankfurt:N6E) has entered a letter of intent with Precision Resources SARL, pursuant to which Nexus will acquire the right to earn up to a 100-per-cent 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).
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.
“Niangouela combined with our Bouboulou project, further solidifies our plans to build a portfolio of highly prospective exploration projects,” commented Nexus President and CEO, Peter Berdusco. “The property has returned excellent gold values to date, and is located approximately an hour away from our Bouboulou concession. As we are already deploying resources in the area, a concurrent work program at Niangouela makes good sense and adds additional upside to the months ahead.”
Bouboulou Update
Nexus geologist Warren Robb is on site in Burkina Faso and is organizing crews, equipment and preparing drill pad locations. With the completion of the rainy season and local crops harvested the Company will provide further work updates in the coming weeks.
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