(TheNewswire)
Vancouver, Canada- TheNewswire - May 11, 2021 - Nexus GoldCorp. (“ Nexus ” or the “ Company ”) (TSXV:NXS )( OTC:NXXGF ) ( FSE:N6E) is pleased to announce it has mobilizedits geological team and diamond drill crews andequipment to its 100% owned Dakouli 2 GoldConcession, located in Burkina Faso, West Africa.
The planned 2000 meter diamond drill program(approximately 12-15 holes) is designed to expand on goldmineralization recently identified in the Reverse Circulation(“RC”) drill program completed at the 98-sq km property inDecember 2020. Drilling is expected to commence in the next 24hours.
The RC drilling targeted a zone measuring approximately450 meters in strike length to depths of 100 meters in the Northeastcorner of the project ground (significant results presented in thefollowing table). Diamond drilling will be used to test and expandthis area and enhance the geological understanding of themineralization encountered there as well as supplement the knowledgeof the geological and structural elements and controls. In additionto confirmation drilling the Company intends to test the strikeextension of this new zone by testing coincidental soil, termite moundgeochemistry and geophysics which shows a trend extending for some1100 meters west of the RC drilling location.
“Diamond drilling will greatly enhance our geologicaland structural understanding of the mineralization at Dakouli,” saidWarren Robb, Senior VP Exploration. “Given that we have alreadyobserved coarse visible gold from several grab samples we haverecovered there, we are eager to see how this relates to the broadergold intercepts we encountered in the RC drilling,” continued Mr.Robb.
“The goal is to define the extent of the east-weststrike, along the trend where discovery was made,” said president& CEO, Alex Klenman. “There is a lot of ground to explore. Weknow that the mineralization trends west and, in several areas, dipsto the southwest, over what appear to be substantial distances. Eachround of drilling we complete will help us establish the size andscope of the overall mineralized footprint outlined by the soilwork,” continued Mr. Klenman.
UTM E | UTM N | DIP | AZIMUTH | ELEV | FROM | TO | LENGTH (meters) | Au G/T | |
DKL-20-RC-001 | 625256 | 1441633 | -55 | 350 | 299 | 40 | 52 | 12 | 0.35 |
DKL-20-RC-002 | 625218 | 1441603 | -55 | 350 | 281 | 42 | 58 | 16 | 0.64 |
DKL-20-RC-006 | 637023 | 1445782 | -45 | 360 | 286 | 82 | 118 | 36 | 0.33 |
Includes | 100 | 118 | 18 | 0.59 | |||||
Includes | 108 | 110 | 2 | 1.78 | |||||
116 | 118 | 2 | 1.52 | ||||||
DKL-20-RC-007 | 636974 | 1445768 | -60 | 350 | 298 | 108 | 138 | 20 | 4.83 |
Includes | 118 | 124 | 6 | 14.51 | |||||
Includes | 120 | 122 | 2 | ||||||
DKL-20-RC-008 | 636908 | 1445758 | -45 | 360 | 288 | 108 | 116 | 8 | 0.72 |
Includes | 108 | 110 | 2 | 1.13 | |||||
DKL-20-RC-009 | 636851 | 1445785 | -45 | 360 | 288 | 50 | 60 | 10 | 1.61 |
Includes | 52 | 54 | 2 | 4.11 | |||||
120 | 126 | 6 | 0.31 | ||||||
140 | 150 | 10 | 0.47 | ||||||
DKL-20-RC-010 | 636806 | 1445782 | -45 | 360 | 294 | 64 | 66 | 2 | 1.46 |
74 | 82 | 8 | 1.89 | ||||||
Includes | 76 | 78 | 2 | 6.54 | |||||
DKL-20-RC-011 | 636793 | 1445682 | -45 | 360 | 286 | 78 | 88 | 10 | 0.35 |
DKL-20-RC-012 | 636793 | 1445682 | -50 | 360 | 285 | 150 | 154 | 4 | 0.70 |
DKL-20-RC-016 | 636997 | 1445698 | -55 | 360 | 293 | 4 | 12 | 8 | 1.13 |
Includes | 10 | 12 | 2 | 3.99 | |||||
DKL-20-RC-017 | 637099 | 1445774 | -50 | 360 | 310 | 88 | 140 | 52 | 0.30 |
Includes | 88 | 130 | 42 | 0.34 | |||||
Includes | 102 | 120 | 18 | 0.59 | |||||
Includes | 102 | 112 | 10 | 0.91 | |||||
Includes | 102 | 106 | 4 | 2.08 | |||||
DKL-20-RC-18 | 636688 | 1445765 | -50 | 360 | 294 | 76 | 82 | 6 | 1.35 |
Includes | 78 | 80 | 2 | 3.36 | |||||
And | 88 | 118 | 30 | 0.27 | |||||
Includes | 88 | 96 | 8 | 0.53 | |||||
Includes | 92 | 94 | 2 |
Table 1: Significant drillintercepts, Dec 2020, Dakouli 2 Gold Concession, Burkina Faso, WestAfrica
The Dakouli 2 permit is located on the Goren greenstonebelt, proximal to Nordgold’s Bissa Mine and Gougre satellite pit,and is bisected by the gold bearing Sabce Shear zone. Updates will be provided as drilling progresses.
Drilling to Date at Dakouli
The maiden RC program, conducted in late 2020,consisted of 2,914 meters of exploratory drilling. The program wasdesigned to test several areas that have returned either high goldvalues from rock samples or coincidental soil geochemical andgeophysical anomalies proximal to artisanal workings(“orpaillages”). Drilling has so far primarily been confined toan approximately 450m x 200m section in the upper northeastern portionof the concession ground.
Significant results wereencountered in hole DKL-20-RC-007, which returned 4.83 grams-per-tonne(“g/t”) gold (“Au”) over 20 meters, including 14.51 g/t Auover 6m (also including 39.6 g/t over 2m). Other significant resultswere realized in hole DKL-20-RC-009, which returned 1.61 g/t Au over10 meters, including 4.11 g/t Au over 2 meters, and DKL-20-RC-010,which returned 1.89 g/t Au over 8 meters, including 6.54 g/t Au over 2meters . In addition, several holes returnedlengthy intercepts of sub-one gram gold, including DKL-20-RC-006 whichreturned .33 g/t Au over 36 meters, including .59 g/t Au over 18meters, DKL-20-RC-002 which returned .64 g/t Au over 16 meters, andDKL-20-RC-017 .59 g/t Au over 18 meters, including .91 g/t Au over 10meters.
Figure 1: Dakouli 2 Gold Concession,current areas of interest (blue arrows), Burkina Faso, WestAfrica
About the Dakouli 2 GoldConcession
The Dakouli 2 exploration permit is a 98-sq km (9,800hectares) gold exploration property located approximately 100kilometers due north of the capital city Ouagadougou.
In late 2018 Company geologists conducted acomprehensive ground reconnaissance program to the west and south ofthe main orpaillage (artisanal zone) and identified new near surfaceworkings being exploited by artisanal miners. Rock samples collected from these new zones contained variousconcentrations of visible gold, including coarse nuggety samples. Of the 40 samples collected from depths of 5meters down to 50 meters below surface, 20 returned assay valuesgreater than 1 g/t Au. Multiple samples showed variousconcentrations of visible gold that returned assay values between 4.93g/t Au and 98.9 g/t Au (see Company newsreleases dated January 8, 15, June 11, 2019, June 23, and September20, 2020).
Follow up work outlined an anomalous zone extendingsome 500 meters west from the sample zones. Based on those results theCompany initiated a 150-line kilometer soil geochemical surveycovering the northern half of the Dakouli 2 property. This survey identified three prominent gold geochemicaltrends.
The primary gold trend parallels the Sabce fault zoneand extends for approximately 10 kilometers in a northeast-southwestdirection and bisects the property from the north east corner of theproperty to its western boundary. The Sabcefault hosts multiple deposits including Nordgold’s 3.4M oz BissaMine, located approximately 25km east of the Dakouli ground.
Two secondary gold trends which extend forapproximately 6.5 kilometers each are oriented in a northwest tosoutheast direction and bisect the primary trend. All three goldgeochemical trends are coincidental to geophysical trends identifiedfrom the national regional airborne geophysics.
*Grab samples are selective by nature and may notrepresent the true grade or style of mineralization across theproperty
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 projects in Canadaand West Africa. The Company’s West African-based portfolio totalsover 550-sq kms of land located on active gold belts and provenmineralized trends, while it’s 100%-owned Canadian projects includethe McKenzie Gold Project in Red Lake, Ontario; the New Pilot Project,located in British Columbia's historic Bridge River Mining Camp; andfour prospective gold and gold-copper projects (3,700-ha) in theProvince of Newfoundland. The Company isfocusing on the development of its flagship assets while seekingjoint-venture, earn-in, and strategic partnerships for other projectsin 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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