(TheNewswire)
Vancouver,Canada – TheNewswire - March 9, 2022 - Nexus Gold Corp. (“ Nexus ” or the “ Company ”)(TSXV:NXS ) , ( OTC:NXXGF ) , ( FSE:N6E) is pleased to announce it hascommenced exploration at its wholly-owned 13,166-hectare CycloneProject, a gold-nickel-copper property which covers a 28-kilometrestrike length of the Aquilon Greenstone Belt in the James Bay Regionof northern Quebec.
The Company has contracted Prospectair Geosurveys Incof Gatineau, Quebec, to conduct a property-wide, 1,127 line-kilometers(line-spacing of 150 meters) combined magnetic (MAG) and time-domainelectromagnetic (TDEM) airborne survey.
The property was acquired based on its high potentialfor gold, nickel, and copper mineralization, but only limitedhistorical exploration. The magnetic component of the survey willguide the lithological interpretation of the basement rocks, as wellas define structural off-sets and potential alteration features. Theelectromagnetic (EM) of the survey aims to define conductive featureswhich may be related to sulphide accumulations with the potential fornickel and copper mineralization related to the large volumes ofultramafic intrusions on a portion of the Property.
The Cyclone property consists of a large,district-scale, gold-nickel-copper exploration project, located in theJames Bay Region of northern Quebec. Within the James Bay Region areseveral past / producing gold mines including Newmont’s EleonoreGold Mine, which began production in 2014. Cyclone comprises 260mineral claims covering a 28-kilometer-long portion of the AquilonGreenstone Belt. The Aquilon Belt is a relatively newlycharacterized (2011) series of volcano-sedimentary rocks that hostspotential for gold and nickel/copper mineralization.
Historical exploration at Cyclone consists ofregional-scale mapping and prospecting, as well as an airbornemagnetic-electromagnetic (EM) survey. The regional-scale mappingconfirmed the mafic and ultramafic rocks, felsic volcanics andiron-formation. During the regional-scale mapping, some of theultramafic rocks were found to contain minor sulphide (pyrhhotite,chalcopyrite and pyrite) with elevated nickel and chromium. The EMconductors remain largely un-tested.
Two types of gold mineralization have been identifiedwithin the western part of the belt. High grade vein-type goldmineralization found in auriferous quartz and carbonate veins hostedwithin felsic rock associated with felsite's and disseminated pyritehalos. Mineralization tends to be found along a strong lineamentknown as the Wolfe Corridor. And lower grade gold mineralizationassociated with bands of disseminated sulphides (Py-Po) with someanomalous copper and zinc values. Large volumes of ultramafic rockat the Cyclone Property suggest there is good potential for magmaticsulphide mineralization (Ni +/- PGE’s).
Image 1: Cyclone property located onthe Aquilon Greenstone Belt, North-Central Quebec, Canada
Sirios Resources has conducted several explorationprograms in the same greenstone belt at their Aquilon Property,located immediately to the west of the Cyclone Property. Sirios’property has thirty (30) high-grade surface gold showings, includingsome with spectacular gold grades up to 800 grams-per-tonne and more(see Sirios Resources news releases September 22, 2020, and January19, 2011). Numerous shallow drill holes were completed on theproperty over the years (205 holes totaling 12,247m), with themajority of the work concentrated on four of the showings.
* Management cautions that pastresults or discoveries on adjacent properties may not necessarily beindicative to the presence of mineralization on the Company’sproperties.
The Cyclone Project has not yet seen any drilling, or asystematic exploration program for gold or base-metals. At the northend of the Property, it is approximately 1.5 kilometres from anall-weather access road to the La Forge hydroelectric facility, andthe all-weather Trans-Taiga Highway passes less than 1 kilometer fromthe south end of the Property.
Neil McCallum P.Geo., of Dahrouge Geological ConsultingLtd., is the designated Qualified Person as defined by NationalInstrument 43-101 has approved, the technical information contained inthis release.
About the Company
Nexus Gold is a Canadian-based gold exploration anddevelopment company with an extensive portfolio of projects in Canadaand West Africa. The Company’s primary focus is on its 100%-owned,98-sq km Dakouli 2 Gold Concession in Burkina Faso, West Africa, andthe approximately 1400-ha McKenzie Gold Project, located in Red Lake,Ontario. The Company is concentrating on thedevelopment of its core assets while seeking joint-venture, earn-in,and strategic partnerships for other projects in its 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
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