(TheNewswire)
Vancouver, Canada– TheNewswire - March 16, 2021 - Nexus GoldCorp. (“ Nexus ” or the “ Company ”) (TSXV:NXS )( OTC:NXXGF ) ( FSE:N6E) is pleased to report that it has begun a 301 linekilometer airborne magnetic and radio metric survey on its 100% ownedNew Pilot Copper-Gold property located near Bralorne, B.C.,Canada.
The survey, conducted by Precision GeoSurveys Inc., isdesigned to aid in structural and geological interpretations of themineralization encountered to date on the property. New Pilot is a copper-gold exploration property located inthe historic Bridge River Mining Camp, approximately 180 kilometersnorth of Vancouver, and 10.5 kilometres west of the village of GoldBridge, British Columbia.
Previous work by the Company in 2019 at New Pilotconsisted of a summer reconnaissance and sampling program in andaround areas of historical exploration. Atotal of 36 rock samples were collected at this time. Resultsconfirmed a zone of copper-gold mineralization, with selective samplesreturning values of 15.3 grams-per-tonne (“g/t”) gold (“Au”),33.4 g/t, silver (“Ag”), and 2.5% copper (“Cu”), in additionto 4.27 g/t Au, 5.5 g/t Ag, and 0.27% Cu, and 3.91 g/t Au, 3.72 g/tAg, and 0.51% Cu (See company News Release dated August 27,2019).
The 509-hectare property has been the subject ofhistorical exploration. Between 1992 to 1994 Cogema Canada Ltdconducted detailed prospecting and sampling. 99 grab samples weretaken in three zones, with three returning values in excess of 100 g/tAu, 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/tAu.
In addition, 59 soil samples, 229 rock samples, and 66core samples from a small 108-meter diamond drill program were alsoobtained. Significant results obtained included chip samples of 4.03g/t Au over 10 meters, and 1 g/t Au over 10.5 meters in drillcore.
Three styles of mineralization have been identified onthe Project: siliceous fractures containing sulphides, carbonatealtered shears, and quartz veins containing arsenopyrite. TheProject location is situated at the contact of the Coast CrystallineComplex and the Bridge River sediments. Over the past 80 yearsseveral exploration programs have been conducted over or near theproperty, initially concentrating on the Pilot Mine and its strikeextension. The Project is relatively close to the producing BralornePioneer Mine, lying 18 kilometres to the south east.
Image 1: Location of the New PilotCopper-Gold Project, NW of Bralorne, BC, Canada
The Bralorne gold camp represents one of Canada’smost prolific mining operations. From 1928 to 1971, the Bralorne andnearby Pioneer and King mines produced 4.15 million ounces of goldfrom 7.9 million tons of ore*. The Bridge River Mining Camp is thelargest past producer of gold in British Columbia**. In 2017,Blackstone Minerals Ltd, an Australian-based company, acquired theLittle Gem Project, a high-grade cobalt and gold project, locatedapproximately 900 meters from the New Pilot location.
* Avino Silver & Gold Mines,Ltd
** Bralorne Project 1992 PilotProperty BC Assessment Report, Schimann-Robb, 1992
- Grab samples are selective bynature and may not represent the true grade or style of mineralizationacross the property .
Warren Robb P.Geo., Vice President,Exploration, is the designated Qualified Person as defined by NationalInstrument 43-101 and is responsible for, and has approved, thetechnical information contained in this release.
About the Company
Nexus Gold is a Canadian-based gold exploration anddevelopment company with an extensive portfolio of eleven projects inCanada and West Africa. The Company’s West African-based portfolio totals five projects encompassing over 750-sqkms of land located on active gold belts and proven mineralizedtrends, while it’s 100%-owned Canadian projects include the McKenzieGold Project in Red Lake, Ontario; the New Pilot Project, located inBritish Columbia's historic Bridge River Mining Camp; and fourprospective gold and gold-copper projects (3,700-ha) in the Provinceof Newfoundland. The Company is focusing on thedevelopment of several core assets while seeking joint-venture,earn-in, and strategic partnerships for other projects in its growingportfolio.
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
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