(TheNewswire)
Vancouver, Canada - TheNewswire – October 27, 2021 – Nexus GoldCorp. (“ Nexus ” or the “ Company ”)(TSXV:NXS ) ( OTC:NXXGF ) ( FSE:N6E) is pleased to announce that it will be engaging FullForceDiamond Drilling Ltd. (“FullForce”) to complete round two of itsdiamond drilling program on its 100% owned McKenzie Gold Projectlocated at Red Lake Ontario. Crews are expected to mobilize to thesite early next week, with drilling set to commence immediatelythereafter.
FullForce will be drilling up to 2000 meters in thisprogram which will test areas under and northof Perch Lake, in an effort to increase the strike length of the knownmineralized zones. Recent prospecting by the Company has identifiedthe presence of historic trenches on the north side of Perch Lake. The trenches are comprised of quartz veins containing clots andpatches of semi massive chalcopyrite, pyrite and molybdenite. Theveins are hosted in granite which displays strong pervasive silicaflooding. Local discrete shearing in both trenches trend atapproximate attitudes of 330° and dip 70° to 80° to the east,displaying similar trends and lithologies established in theCompany’s previous drill campaigns south of the lake.
This second round of diamond drilling will be lookingto expand on the results obtained in the Company’s two previousdrill programs. These programs outlined a broad zone of goldmineralization in the St. Paul’s Bay area, located in thesouthernmost section of the claim block below Perch Lake (seeCompany News Releases, September 3, 2020, May 25, 2021, and June 1,2021).
Significant results from these drill programsinclude:
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- MK-20-RC-006: 2.75m of 13.25grams-per-tonne (“g/t”) gold (“Au”), including 1m of 36.20 g/tAu (68.75m to 70.5m)
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- MK-20-RC-008: 55.5m of 1 g/tAu (67.5m to 123m), including 16m of 1.42 g/t Au, 6m of 2.37 g/t Au,and 9m of 1.14 g/t Au
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- MK-21-DD-018: 56m of 1.01 g/tAu (13m to 69m), including 21.5m of 1.84 g/t Au, 10m of 3.30 g/t Au,and 1m of 23.1 g/t Au. Other intercepts included 37.6m of 2.78 g/tAu (77m to 115m), including 24.7m of 4.05 g/t Au, 14m of 7.01 g/t Au,and 1m of 94.2 g/t Au.
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- T heentire length of MK-21-DD-018 averaged .99 g/t Au over 198m.
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- MK-21-DD-019: 136 meters of1.25 g/t Au (148m to 285m), including 44.9m of 3.00 g/t Au, 15.5m of5.25 g/t Au, 29.4m of 1.82 g/t Au, and 6m of 5.45 g/t Au. High-gradeintercepts included 1m of 59.8 g/t Au, 1m of 15.5 g/t Au, and 1m of26.7 g/t Au.
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- Hole MK-21-DD-19 ended inmineralization at 285 meters, with an average grade of the holereturning .74 g/t Au over 283.4m.
Image 1: Historic trenches northside of Perch Lake, with prior drill locations to the south, McKenzieGold Project, Red Lake, ON
Image 2: Proposed drill padlocation, east side of Perch Lake, McKenzie Gold Project
Image 2: Proposed drill padlocation, north side of Perch Lake, McKenzie Gold Project
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.
Figure 4: McKenzie Gold Project, RedLake, Ontario, with nearby advanced prospects, producers, and pastproducers
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, 18.02 g/t Au,212.8 g/t Au, 313 g/t Au, 18.02 g/t Au and 9.37 g/t Au. In thesummer of 2019, the Company conducted it's first ground reconnaissanceprogram at McKenzie and results returned notable sample assays,including 135.4 g/t Au and 9.3 g/t Au (see Company news releases datedJune 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; hole MK-20-007which returned 117.4m of 0.33 g/t Aum including 9.4m of 1.26 g/t Au,and 1.5m of 4.64 g/t Au; and hole MK-20-007, which returned 117.5m of.62 g/t Au, including 55.5m of 1.00 g/t Au, which included 16m of 1.42g/t Au (including 6m of 2.37 g/t Au and 2m of 4.28 g/t Au), and 9m of1.14 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 to the south-east of the McKenzie projectground.
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 42.294 million tonnes at a grade of 0.83 g/t goldrepresenting 1,123,900 ounces of gold*.
Drill core is logged and sampled ina secure core storage facility located in Red Lake Ontario. Coresamples from the program are cut in half, using a diamond cutting saw,and are sent to Activation Laboratories in Ontario, an accreditedmineral analysis laboratory, for analysis. All samples are analyzedfor gold using standard Fire Assay-AA techniques. Certified goldreference standards, blanks and field duplicates are routinelyinserted into the sample stream, as part of Nexus’s qualitycontrol/quality assurance program (QA/QC). No QA/QC issues werenoted with the results reported herein.
* Reported lengths are interceptsand are not true widths
^ 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. Any historic drill and sample data contained in thisrelease was verified by the QP by comparing reported assay data withCertificates of Analysis documented. The QP has verified mineralshowings and areas of select sampling and the collars of reportedhistoric drill hole locations. It is the QP’s opinion that thedata as presented is adequate and can be relied upon for use in thispress 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 BurkinaFaso, West Africa, and the approximately 1400-ha McKenzie GoldProject, located in Red Lake, Ontario. TheCompany is focusing on the development of its core assets whileseeking joint-venture, earn-in, and strategic partnerships for otherprojects 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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