Precious Metals

(TheNewswire)



Nexus Gold Corp. (" Nexus " or the " Company ") (TSXV:NXS ) ( OTC:NXXGF ) ( FSE:N6E) is pleased to report that it has mobilized field crews to its 100% owned, 190.53 sq-km (19,053-hectare), Manzour-Dayere gold exploration permit located on the Boromo Greenstone belt, 325 km south west of the capital city of Ouagadougou, Burkina Faso, West Africa

Field crews will be conducting a property-wide geological mapping, prospecting, and rock sampling program to aid in determining suitable areas for ground follow up, and for drill testing.  Previous operators on the property identified nine structures through an airborne magnetics survey.  These structures received little to no follow up work. The program will also look to expand the gold mineralization that has already been identified in the Northeast corner of the property and returned results of 9.60 grams-per-tonne ("g/t") gold ("Au"), 7.07 g/t Au, 5.73 g/t Au, 3.84 g/t Au and 2.84 g/t Au (see Company news release dated February 27, 2020).

Recent historical exploration on the property conducted between 2011 and 2014 returned reported high-grade values of 132 g/t Au, 85.40 g/t Au, 61.20 g/t Au, and 27.9 g/t Au, from select grab samples of quartz veining at the main orpaillage in the extreme northeast corner of the property, while select grab samples of the sedimentary host rock returned values of 103 g/t Au and 21.40 g/t Au, respectively.  The workings on the main orpaillage are extensive and extend to depths of 60 to 80 meters below surface.*

"Manzour is a project we'd like to develop in conjunction with Dakouli," said President and CEO, Alex Klenman.  "It's a district scale land package, located in an area already rich in gold endowment. To date we've only conducted some limited field work in the extreme NE corner of the concession, in and around known artisanal activity.  We're going to get a comprehensive reconnaissance program done here in April so we can identify the areas for follow up and ultimately, drilling.  We have a window before we're back at Dakouli for a second round of drilling, so we feel now is a good time get the recon done and gather more valuable data on what we believe is an underexplored and highly prospective project," continued Mr. Klenman.

The Manzour-Dayere Concession is located along the Boromo Greenstone belt, an early Proterozoic Birimian sequence of the West African Craton, that is home to several significant gold deposits.  Situated in southwestern Burkina Faso, near the border with Ghana, the area is home to several producing mines, including Yaramoko (Roxgold), Hounde (Endeavour), Poura (Newmont), Bondi (Sarama).


Click Image To View Full Size

Image 1: Nexus Gold projects and significant deposits/mines, Burkina Faso, West Africa


Click Image To View Full Size

Image 2: Manzour-Dayere location, with and nearby deposits/mines, southern Burkina Faso, West Africa

* Please note that while the Company considers sampling results from the Manzour-Dayere concession to be accurate, readers are cautioned that a Qualified Person has been unable to verify the laboratory involved in the analysis of these samples, and no documentation was available regarding quality control procedures utilized in the analysis.

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 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 nxs.gold

On behalf of the Board of Directors of

Nexus Gold CORP.

Alex Klenman

President & CEO

604-558-1920

info@nexusgoldcorp.com
www.nexusgoldcorp.com

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.

Copyright (c) 2021 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

various commodities atop a laptop

Expert: War has “Supercharged” Commodities Prices

Investment strategies for weathering and benefiting from current market trends were a hot topic at Sydney's recent RIU Resources Round-Up, held in early May.

Current opportunities and potential future ones were highlighted in the keynote address offered by John Forwood, chief investment officer at Lowell Resources Funds Management.

Quoting a February report from the head of commodity research at Goldman Sachs (NYSE:GS), Forwood explained to attendees that we have reached a “molecule crisis” in the commodity space and are essentially “out of everything.”

Keep reading...Show less
Outback Goldfields CEO Chris Donaldson

Outback Goldfields CEO Chris Donaldson: Embracing the Second Gold Rush in the Victorian Goldfields

Outback Goldfields CEO:17 million oz. of gold produced and producing within 3 miles of our propertyyoutu.be

Keep reading...Show less
CMX Gold & Silver Corp

CMX Announces Media Marketing Contract and New Transfer Agent

(TheNewswire)

CMX Gold & Silver Corp.

May 19, 2022 TheNewswire - CALGARY, ALBERTA CMX Gold & Silver Corp. ( CSE:CXC ) ; (CNSX:CXC.CN); ( OTC:CXXMF ) ("CMX" or the "Company") announces that it has retained the services of Dig Media Inc., doing business as Investing News Network ("INN") for an investor marketing and advertising campaign. INN will provide on-line marketing, advertising and investor awareness services to the Company for the purposes of informing investors about CMX and activities on its 100%-owned Clayton Silver Project in Idaho, USA. The contract with INN is for a twelve-month digital media campaign at a monthly cost of $6,000 that ends on April 25, 2023.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Barrick Extends Revolving Credit Facility and Establishes Sustainability-Linked Metrics

All amounts expressed in US dollars

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced that it has completed an amendment and restatement of the company's undrawn $3.0 billion revolving credit facility, including an extension of the termination date by one year to May 2027, replacement of LIBOR with SOFR as the floating rate mechanism related to the interest rate for any US dollar funds drawn down, and the establishment of sustainability-linked metrics.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Newmont Publishes 2021 Climate Report

Today, Newmont Corporation (NYSE: NEM, TSX: NGT) published its 2021 Climate Report , the Company's annual report prepared in alignment with the Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). The report outlines how Newmont understands and is addressing climate change — from reducing our greenhouse gas emissions, to managing risks, to enhancing resilience within the Company and neighboring communities.

"Climate change, and its impact on our world, continues to be one of the greatest global challenges. It is our responsibility to work alongside government, investors and communities to effect change," said Newmont President and CEO Tom Palmer. "Newmont is addressing these challenges by setting science-based emissions reduction targets and leveraging our size, scale and resources to build strategic alliances to develop future technologies. We are driven by our commitment to our purpose — to create value and improve lives through sustainable and responsible mining."

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×