(TheNewswire)
Vancouver, Canada - TheNewswire - June 1, 2021 - Nexus GoldCorp. (“ Nexus ” or the “ Company ”)(TSXV:NXS ) ) OTC:NXXGF ) ( FSE:N6E) is pleased to report it has received assay results from Hole MK-21-018from the recently completed phase two diamonddrill program at the Company’s 100% owned McKenzie Gold Project,located in Red Lake, Ontario.
The drilling completed in April was a follow up programdesigned to test and expand on the gold results obtained in theCompany’s summer 2020 drill program in the St. Paul’s Bay area ofthe property.
Significant intercepts in hole MK-21-018include:
-
- 56m of 1.01 grams-per-tonne (“g/t”) gold(“Au”), from 13 to 69 meters
- Including 21.5m of 1.84 g/t Au, from 16 to 37.5meters
- Including 10m of 3.30 g/t Au, from 16 to 26meters
- 37.6m of 2.78 g/t Au, from 77.9 to 115.5meters
- Including 24.7m of 4.05 g/t Au, from 86.3 to 111meters
- Including 14m of 7.01 g/t Au, from 86.3 to 100.3meters
- Which includes 8m of 12.14 g/t Au, from 86.3 to 92.3meters
This hole also includes high grade intercepts of 1m of23.10 g/t Au from 22 to 23 meters, and 1m of 94.2 g/t Au from 88.3 to89.3 meters.
Results from Hole MK-21-018 are tabled below:
DRILL HOLE | UTM_E | UTM_N | ELEV (m) | AZIMUTH | DIP | FROM | TO | LENGTH | Au g/t |
MK-21-018 | 437704 | 5652260 | 383.6 | 0 | -50 | 2.55 | 7 | 4.45 | 2.35 |
includes | 6 | 7 | 1 | 6.64 | |||||
13 | 69 | 56 | 1.01 | ||||||
Includes | 16 | 37.5 | 21.5 | 1.84 | |||||
Includes | 16 | 26 | 10 | 3.30 | |||||
Includes | 22 | 23 | 1 | 23.10 | |||||
77.9 | 115.5 | 37.6 | 2.78 | ||||||
Includes | 86.3 | 115.5 | 29.2 | 3.43 | |||||
Includes | 86.3 | 111 | 24.7 | 4.05 | |||||
Includes | 86.3 | 100.3 | 14 | 7.01 | |||||
Includes | 86.3 | 94.3 | 8 | 12.14 | |||||
Includes | 86.3 | 92.3 | 6 | 16.09 | |||||
Includes | 88.3 | 89.3 | 1 | 94.20 | |||||
139.1 | 140.3 | 1.2 | 1.02 | ||||||
151 | 152 | 1 | 1.20 | ||||||
174 | 175 | 1 |
* Reported lengths are interceptsand are not true widths
Drill holes MK-21-018 and MK-21-019 (previouslyreported in Company news release dated May 25, 2021) were drilled as apair to extend a zone containing visible gold observed in hole 18. See following Image 1 following.
“We have successfully extended the zone found duringthe summer 2020 drill program, but what the drilling is showing us nowis that there is a broader zone of lower grade material envelopingthese higher grade quartz vein and veinlets ,”said VP of Exploration, Warren Robb. “It is Impressive that theentire length of hole 18 averaged 0.99 grams per tonne gold over 198meters, despite of the fact that 43.4 meters of that total returnedvalues below 100 ppb,” continued Mr. Robb
Drilling at St. Paul’s Bay area of the McKenzieproject has so far outlined a board zone of mineralization which hasbeen traced for approximately 200 meters, looks to be as wide as 40meters, and appears to be striking to the northwest and dipping to theeast. It remains open to the northwest and to depth.
“This latest hole helps confirm we have discovered asignificant zone of interest that trends to the northwest in the St.Paul’s Bay region of the property,” said Alex Klenman, Presidentand CEO. “We are beginning to get a handle on the mechanics of it,and once all the results are received, we’ll review the data anddetermine where the next round of drilling will occur. We arepleased with the results so far and look forward to seeing what theremaining holes from this program generate,” continued Mr. Klenman.
Assays from holes MK-21-020, MK-21-021 and MK-21-022are pending, results will be released once received, reviewed, andverified by the Company’s Qualified Person.
Previous drill results from this program included holeMK-21-019 which intercepted 136.5M of 1.25 g/t Au, including 44.9m of3.00 g/t Au and 15.5m of 5.25 g/t Au, 29.4m of 1.82 g/t Au and 6m of5.45 g/t Au. Hole MK-21-017 intercepted 40.3m of 0.58 g/t Au,including 11m of 1.04 g/t Au.
Initial drilling in the same St. Paul’s Bay area ofthe claim block in the summer of 2020 included notable intercepts inhole MK-20-006 which returned 2.75m of 13.25 g/t Au, and holeMK-20-008, which returned 117.5m of .62 g/t Au, including 55.5m of1.00 g/t Au, and 16m of 1.42 g/t Au, 6m of 2.37 g/t Au and 9m of 1.14g/t Au.
Image 1: C ross section looking east, holes MK-21-018& 19, showing downhole assay results
All reported holes were drilled entirely in a graniticrock of the Dome stock and displayed patchy moderate-to-strong silicaalteration. Silica altered intervals are typically associated withhigh density micro-fracturing and increasedmolybdenite and chalcopyrite mineralization. Fine-grained fluorescentscheelite was also observed. The granite was strongly magnetic,containing 2-3% fine-grained disseminated magnetite.
Drill core is logged and sampled in a secure corestorage facility located in Red Lake Ontario. Core samples from theprogram are cut in half, using a diamond cutting saw, and are sent toActivation Laboratories in Ontario, an accredited mineral analysislaboratory, for analysis. All samples are analyzed for gold usingstandard Fire Assay-AA techniques. Certified gold referencestandards, blanks and field duplicates are routinely inserted into thesample stream, as part of Nexus’s quality control/quality assuranceprogram (QA/QC). No QA/QC issues were noted with the resultsreported herein.
About the McKenzie GoldProject
The 100%-owned McKenzie Gold Project is anapproximately 1,400-hectare gold exploration project located in theheart of the historic Red Lake gold camp, in western Ontario, Canada. Areas of high-grade gold mineralization have been established withinthe northern portion of the claim block (McKenzie Island), withsignificant gold values having been drilled along a 600-meter strikein the southern portion of the property (St. Paul’s Bay area).
Numerous high-grade historical samples^ have beenrecovered on the property, including 331.14 g/t Au, 212.8 g/t Au, and313 g/t Au. In the summer of 2019, the Company conducted it's firstground reconnaissance program at McKenzie and results returned notablesample assays, including 135.4 g/t Au and 9.3 g/t Au (see Company newsreleases dated June 25, 2019, and October 11, 2019).
Additional high-grade historical grab samples^previously unknown to the Company and revealed in a report supplied byRimini Exploration include several high-grade assays, including 142.49g/t Au, 115.2 g/t Au, 114.57 g/t Au, 93.71 g/t Au, 68.03 g/t Au, 53.01g/t Au, and 16.65 g/t Au from areas located on McKenzie Island (northblock) (see Company news release dated October 11, 2019).
Significant results from the Company’s initial drillprogram in August 2020 include hole MK-20-006 which returned 2.75meters of 13.25 g/t Au, including 1m of 36.2 g/t Au, and holeMK-20-007, which returned 117.5m of .62 g/t Au, including 55.5m of1.00 g/t Au, which included 16m of 1.42 g/t Au (including 6m of 2.37g/t Au and 2m of 4.28 g/t Au), and 9m of 1.14 g/t Au.
Results from the Company’s initial summer 2020 drillprogram returned values similar to historic drilling in the area,which have been typically higher-grade intercepts over narrow widths(i.e., 0.5m to 1m of > 5 g/t Au). In addition, holes 007 and 008identified a second style of gold mineralization on the McKenzieproperty. These lengthy (> 100m) disseminated, sub and nearone-gram gold intercepts more closely resemble the type ofmineralization being explored by Premier Gold at the Hasaga Project,located approximately 5kms east of the McKenzie project ground.
Premier Gold’s Hasaga Property is host to thepast-producing Hasaga and Gold Shore Mines and is strategicallylocated proximal to the Balmer-Confederation regional unconformity,recognized as an important geologic feature at the multi-million ouncepast and currently producing Red Lake area mines. The deposits onthe Hasaga Project are estimated as hosting an Indicated mineralresource of 1,123,900 ounces of gold with an average grade 0.83 g/tAu. *
Figure 2: McKenzie Gold Project, RedLake, Ontario
^ Grab samples are selected samplesand are not necessarily representative of mineralization hosted on theproperty
* HASAGA PROJECT RED LAKE MINING DISTRICT,ONTARIO, CANADA NTS MAP SHEETS 52K/13 AND 52N/04 by Vincent Jourdain (Ph.D., P.Eng.), John Langton (M.Sc., P. Geo.)& Abderrazak Ladidi (P.Geo.) dated February24 th , 2017).
Warren Robb P.Geo.,Vice President, Exploration, is the designated Qualified Person andhas reviewed and approved the technical information contained in thisrelease. The historic drill data contained in this release wasverified by the QP by comparing reported assay data with Certificatesof Analysis documented. The QP has verified mineral showings and areasof select sampling and the collars of reported historic drill holelocations. It is the QP’s opinion that the data as presented isadequate and can be relied upon for use in this pressrelease.
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 developing its coreassets while seeking joint-venture, earn-in, and strategicpartnerships 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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