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Nexus Gold Corp. (" Nexus " or the " Company ") (TSXV:NXS ) ( OTC:NXXGF ) ( FSE:N6E) is pleased to report that it has completed the 301 line kilometer airborne survey covering the Company's New Pilot project, located in the Bralorne area of British Columbia
The Survey, carried out by Precision GeoSurveys Inc, was designed to cover the 509-hectare property using flight lines oriented North-South and spaced at 50 meters. The survey obtained magnetic and radiometric data which will be processed by Precision over the coming weeks. The data from the survey will be used to enhance the company's understanding of the geological and structural nature of the property and assist in identifying areas for suitable ground follow up.
"We are pleased that the survey went so well and that the weather co-operated with us to complete this survey. The data should provide good insight as to potential mineral targets on the property," said Warren Robb, VP Exploration for Nexus Gold.
New Pilot is a copper-gold exploration property located in the historic Bridge River Mining Camp, approximately 180 kilometers north of Vancouver, and 10.5 kilometres west of the village of Gold Bridge, British Columbia.
Previous work by the Company in 2019 at New Pilot consisted of a summer reconnaissance and sampling program in and around areas of historical exploration. A total of 36 rock samples were collected at this time. Results confirmed a zone of copper-gold mineralization, with selective samples returning values of 15.3 grams-per-tonne ("g/t") gold ("Au"), 33.4 g/t, silver ("Ag"), and 2.5% copper ("Cu"), in addition to 4.27 g/t Au, 5.5 g/t Ag, and 0.27% Cu, and 3.91 g/t Au, 3.72 g/t Ag, and 0.51% Cu (See company News Release dated August 27, 2019).
The 509-hectare property has been the subject of historical exploration. Between 1992 to 1994 Cogema Canada Ltd conducted detailed prospecting and sampling. 99 grab samples were taken in three zones, with three returning values in excess of 100 g/t Au, including 102 g/t Au, 106 g/t Au with visible gold, and 111g/t Au; three returning values in excess of 10 g/t Au (17 g/t Au, 21 g/t Au, 33 g/t Au); and 14 others returning values in excess of 1 g/t Au.
In addition, 59 soil samples, 229 rock samples, and 66 core samples from a small 108-meter diamond drill program were also obtained. Significant results obtained included chip samples of 4.03 g/t Au over 10 meters, and 1 g/t Au over 10.5 meters in drill core.
Three styles of mineralization have been identified on the Project: siliceous fractures containing sulphides, carbonate altered shears, and quartz veins containing arsenopyrite. The Project location is situated at the contact of the Coast Crystalline Complex and the Bridge River sediments. Over the past 80 years several exploration programs have been conducted over or near the property, initially concentrating on the Pilot Mine and its strike extension. The Project is relatively close to the producing Bralorne Pioneer Mine, lying 18 kilometres to the south east.
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Image 1: Location of the New Pilot Copper-Gold Project, NW of Bralorne, BC, Canada
The Bralorne gold camp represents one of Canada's most prolific mining operations. From 1928 to 1971, the Bralorne and nearby Pioneer and King mines produced 4.15 million ounces of gold from 7.9 million tons of ore*. The Bridge River Mining Camp is the largest past producer of gold in British Columbia**. In 2017, Blackstone Minerals Ltd, an Australian-based company, acquired the Little Gem Project, a high-grade cobalt and gold project, located approximately 900 meters from the New Pilot location.
* Avino Silver & Gold Mines, Ltd
** Bralorne Project 1992 Pilot Property BC Assessment Report, Schimann-Robb, 1992
- Grab samples are selective by nature and may not represent the true grade or style of mineralization across the property .
Warren Robb P.Geo., Vice President, Exploration, is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for, and has approved, the technical information contained in this release.
About the Company
Nexus Gold is a Canadian-based gold exploration and development company with an extensive portfolio of eleven projects in Canada and West Africa. The Company's West African-based portfolio totals five projects encompassing over 750-sq kms of land located on active gold belts and proven mineralized trends, while it's 100%-owned Canadian projects include the McKenzie Gold Project in Red Lake, Ontario; the New Pilot Project, located in British Columbia's historic Bridge River Mining Camp; and four prospective gold and gold-copper projects (3,700-ha) in the Province of Newfoundland. The Company is focusing on the development of several core assets while seeking joint-venture, earn-in, and strategic partnerships for other projects in its growing portfolio.
For more information, please visit nexus.gold
On behalf of the Board of Directors of
Nexus Gold CORP.
Alex Klenman
President & CEO
604-558-1920
info@nexusgoldcorp.com
www.nxs.gold
Neither the 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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