(TheNewswire)
Vancouver, Canada- TheNewswire – January 26, 2021 - Nexus Gold Corp.(“ Nexus ” or the “ Company ”) (TSXV:NXS ) ( OTC:NXXGF ) ( FSE:N6E) ispleased to report initial results from its recently completed phaseone Reverse Circulation (“RC”) maiden drill program at its100%-owned Dakouli 2 gold exploration permit located in centralBurkina Faso, West Africa.
The RC program at the 9,800-hectare (98-sq kms)concession consisted of 2,914 meters of exploratory drilling. Theprogram was designed to test several areas that have returned eitherhigh gold values from rock samples or coincidental soil geochemicaland geophysical anomalies proximal to artisanal workings termedorpaillages.
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, and DKL-20-RC-002 which returned .64 g/t Au over 16 meters.
The gold mineralization encountered in the Northeastzone consists of disseminated sulfides, containing pyrite,chalcopyrite, galena, and particles of visible gold. Themineralization occurs at or proximal to contacts between clasticsedimentary rocks and Mafic volcanics rocks. The mineralized zonesare part of pervasive hydrothermal alteration developed in thesehighly strained sedimentary and volcanic rocks. The company isinterpreting the foliation observed in the RC chips as being looselysub-parallel to the dominant foliation fabric of the Sabce shear zone. Assays are pending for the remaining six holes and the Company willreport those results once received, reviewed, and verified.
“ This new discovery is veryexciting . The intercepts we have encounteredfrom the northeast corner of the property are indicating a broad zoneof gold mineralization,” said VP Exploration, Warren Robb, P.Geo. “The extent of the mineralization is encouraging and certainlyrequires follow up with diamond drilling. This will allow us togenerate better data concerning the nature of the mineralization andthe lithologic and structural aspects of the host rocks. The locationof the drilling corresponds well with our interpretation of thelocation of the Sabce shear zone and our ground geochemistry andtermite sampling suggest that this mineralization may extend for atleast a kilometer to the south west,” continued Mr. Robb.
Table of significant results:
Hole ID | 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 | 0.33 |
DKL-20-RC-002 | 625218 | 1441603 | -55 | 350 | 281 | 42 | 58 | 16 | 0.59 |
DKL-20-RC-006 | 637023 | 1445782 | -45 | 360 | 286 | 82 | 118 | 36 | 0.33 |
Includes | 100 | 118 | 18 | 0.56 | |||||
Includes | 108 | 110 | 2 | 1.29 | |||||
116 | 118 | 2 | 2.01 | ||||||
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 |
“We’re certainly pleased with the early results atDakouli,” said President & CEO, Alex Klenman. “The drillprogram has confirmed widespread mineralization in the northeast zoneof the property. Positive results, particularly like those receivedin hole 7, in this, a relatively small maiden drill program, is bothsignificant and encouraging. And beyond the target areas we testedin this first phase, Dakouli presents a potential district-scaleopportunity with numerous targets yet to drill, and a lot of groundstill in need of detailed reconnaissance. We like what we’reseeing so far and look forward to the next phase of drilling,”continued Mr. Klenman.
Figure 1: Drill hole locations, 2020maiden drill program, Dakouli 2 gold concession, Burkina Faso, WestAfrica
The RC drill cuttings were bagged in the field and thentaken to a secure compound where the intervals were split using ariffle splitter with one split being placed in a tagged 3-mil polyplastic bag. The samples were then shipped by Company vehicle to theALS Global Geochemistry Lab located 100 kilometers south in thecapital city of Ouagadougou. ALS Global is an ISO certifiedlaboratory and is independent of Nexus Gold Corp and its subsidiaries.
The maiden Dakouli drill program was designed toinitially test depth extensions of geochemical gold anomaliesidentified through termite mound sampling, soil gold geochemistrywhich identified three trends intersecting the property (see Companynews release dated June 11, 2019), and finally rock geochemistry whichhas returned higher grade gold results from selective grab samplesextracted from Artisanal mining areas (“Orpaillages”) (see Companynews releases dated January 8 and 15, 2019, June 23, 2020, andSeptember 10, 2020).
The Dakouli 2 permit is located on the Goren greenstonebelt, proximal to Nordgold’s Bissa Mine, and is bisected by the goldbearing Sabce shear zone.
Figure 2: Dakouli 2 knownmineralized zones and bisecting Sabce faults in red, Burkina Faso,West Africa
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.
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 and southernportions of the contiguous Niangouela 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 Sabce fault hosts multipledeposits including Nordgold’s 3.4M oz Bissa Mine, locatedapproximately 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. To date, 40 sampleshave been collected at the Dakouli concession, with 20 returning assayvalues greater than 1 g/t Au, and 11 assayinggreater than 10 g/t Au, with significant values as high as 98.9 g/t Au(see Company news release dated September 10, 2020).
The Dakouli 2 permit lies immediately south of, andcontiguous to, the Company’s Niangouela Gold Concession, which hasbeen explored over the past three years. Drilling at Niangouela hasreturned significant intercepts, including 26.69 g/t Au over 4.85m,including 132 g/t Au over 1m, and 4 g/t Au over 6m, including 20.5 g/tAu over 1m (see Company news releases dated March 7, 2017 and April 5,2017).
*Grab samples are selective by nature and may not represent the truegrade or style of mineralization across 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.
Nexus Gold Corp. to Host LiveCorporate Update Webinar on Thursday, February 4 th at 2:00 PM ET (11 AM PT)
Nexus Gold, President & CEO, Alex Klenman, will behosting a live investor webinar on Thursday, February 4 th to provide an update on key explorationdevelopments in Canada and West Africa and upcoming milestones. Youcan register for the webinar below:
Date: Thursday, February 4 th , 2021
Time: 2 PM EST(11 AM PT)
Register: byemail nexus@rbmilestone.com or via direct link: Webinar Registration
http://7514767.hs-sites.com/www.rbmilestone.com/nexusgold_webinar_event_february_4_2021
HAVE QUESTIONS? Management will be available to answer your questions following thepresentation on the webinar platform. You may also submit yourquestion(s) beforehand via email to nexus@rbmilestone.com
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 portfoliototals five projects encompassing over 750-sq kms of land located onactive gold belts and proven mineralized trends, while it’s100%-owned Canadian projects include the McKenzie Gold Project in RedLake, Ontario; the New Pilot Project, located in British Columbia'shistoric Bridge River Mining Camp; and four prospective gold andgold-copper projects (3,700-ha) in the Province of Newfoundland. The Company is focusing on the development ofseveral core assets while seeking joint-venture, earn-in, andstrategic 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.nexusgoldcorp.com
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. This news release may containforward-looking statements. These statements are based on currentexpectations and assumptions that are subject to risks anduncertainties. Actual results could differ materially because offactors discussed in the management discussion and analysis section ofour interim and most recent annual financial statement or otherreports and filings with the TSX Venture Exchange and applicableCanadian securities regulations. We do not assume any obligation toupdate any forward-looking statements, except as required byapplicable laws.
Copyright (c) 2021 TheNewswire - All rights reserved.