(TheNewswire)
Vancouver, Canada– TheNewswire - March 25, 2021 - Nexus GoldCorp. (“ Nexus ” or the “ Company ”) (TSXV:NXS )( OTC:NXXGF ) ( FSE:N6E) is pleased to report that itsdrilling contractor, Full Force Drilling, is currently mobilizingcrews and equipment to the Company’s 100%-owned McKenzie GoldProject, located in Red Lake, Ontario.
This phase two program will consist of up to 2000meters of diamond drilling to test the lateral and depth extensions ofgold mineralization found during last summer’s drill program in theSt. Paul’s Bay area of the property. Drilling is expected tocommence over the upcoming weekend.
During the company’s 2020 phase one drill programgold mineralization was encountered in 11 of 13 holes drilled withsignificant intersections being reported from holes MK-20-006 whichreturned 2.75 meters of 13.25 grams-per-tonne (“g/t”) gold(”Au”), including 36.20 g/t Au over 1m, and MK-20-008 returned a significant intercept of 117.5 meters of0.62 g/t Au, including 55.5 meters of 1.00 g/t Au, which also includesintercepts of 6m of 2.37 g/t Au, 2m of 4.28 g/t Au, and 9m of 1.14 g/tAu, among others (see table 1). Drill hole MK-20-007, which wasdrilled approximately 25m east of hole MK-20-008, returned anomalousgold grades of 0.36 g/t Au over 117m, including notable intercepts9.4m of 1.26 g/t Au, 4m of 1.13 g/t Au, and 1.5m of 4.64 g/tAu.
“We are happy to get back to McKenzie and potentiallybuild on the positive results of last year,” said Alex Klenman,President and CEO. “With that initial drill program, we were ableto not only replicate the higher-grade, narrow gold interceptspreviously encountered in historical drilling, but we were also ableto establish the presence of lengthier runs of near one-gramdisseminated gold, which hadn’t been drilled there before. Withtwo types of mineralization in the southern section of the property,it’s a compelling target area and one we’re eager to expand on,”continued Mr. Klenman.
Gold intercepts from the phase one program are tabledbelow:
HOLE ID | UTM E | UTM N | Dip | Azimuth | From | To | Length meters | Au g/t |
MK-20-001 | 437729 | 5652199.7 | -50 | 360 | 41.25 | 41.75 | 0.5 | 5.75 |
86 | 90 | 4 | 1.41 | |||||
including | 89 | 90 | 1 | 4.30 | ||||
MK-20-002 | 437601 | 5652153.5 | -50 | 360 | 50.2 | 50.7 | 0.5 | 5.21 |
MK-20-003 | 437601 | 5652153.5 | -65 | 360 | 107.5 | 108 | 0.5 | 1.82 |
MK-20-004 | 437651 | 5652138.7 | -50 | 360 | 130 | 131 | 1 | 7.43 |
MK-20-005 | 437684 | 5652197.3 | -50 | 360 | 10 | 11 | 1 | 1.57 |
44 | 45 | 1 | 1.61 | |||||
46 | 47 | 1 | 3.42 | |||||
93.9 | 94.4 | 0.5 | 5.27 | |||||
100.5 | 107 | 1.5 | 1.07 | |||||
MK-20-006 | 437684 | 5652197.3 | -65 | 360 | 12.5 | 13.5 | 1 | 1.25 |
15.5 | 18 | 2.5 | 1.01 | |||||
28 | 29 | 1 | 1.34 | |||||
68.75 | 71.5 | 2.75 | 13.25 | |||||
including | 69.5 | 70.5 | 1 | 36 | ||||
MK-20-007 | 437675 | 5652424 | -50 | 360 | 5.6 | 123 | 117.4 | 0.33 |
including | 5.6 | 15 | 9.4 | 1.26 | ||||
13.5 | 15 | 1.5 | 4.63 | |||||
44 | 48 | 4 | 1.13 | |||||
66 | 67.5 | 1.5 | 1.02 | |||||
MK-20-008 | 437646 | 5652413 | -50 | 360 | 5.5 | 123 | 117.5 | 0.62 |
including | 22.5 | 24 | 1.5 | 1.23 | ||||
and | 67.5 | 123 | 55.5 | 1.00 | ||||
including | 72 | 73.5 | 1.5 | 1.44 | ||||
and | 75.5 | 76.5 | 1 | 1.33 | ||||
and | 77.5 | 79.5 | 2 | 1.21 | ||||
and | 82.6 | 98.6 | 16 | 1.42 | ||||
including | 90.6 | 96.6 | 6 | 2.37 | ||||
including | 91.6 | 93.6 | 2 | 4.28 | ||||
including | 93.6 | 98.6 | 5 | 1.26 | ||||
and | 102.6 | 105.6 | 4 | 1.07 | ||||
and | 110.6 | 119.6 | 9 | 1.14 | ||||
and | 117.6 | 119.6 | 2 | 1.54 | ||||
MK-20-009 | 437646 | 5652166 | -50 | 360 | 125 | 126 | 1 | 1.34 |
127 | 128 | 1 | 1.36 | |||||
MK-20-010 | 437562 | 5652193 | -50 | 360 | 12 | 13 | 1 | 1.02 |
76.5 | 78 | 1.5 | 1.02 | |||||
100 | 102 | 2 | 2.94 | |||||
including | 101 | 102 | 1 | 4.68 | ||||
112.5 | 114.5 | 2 | 1.37 | |||||
including | 113.5 | 114.5 | 1 | 4.05 | ||||
MK-20-011 | 437649 | 5652222 | -50 | 360 | 70.5 | 72 | 1.5 | 1.12 |
MK-20-013 | 437652 | 5652139 | -65 | 360 | 53 | 54 | 1 | 2.39 |
Table 1: Summary of significantdrill results, summer 2020 drill program, McKenzie Gold Project
The company will be testing two styles ofmineralization on the property, with a series of gold bearing quartzveins encountered in holes MK-20-1-6, 9, and 10 and broader,disseminated gold mineralization occurring in the Dome Stock in drillholes Mk-20-007 and 008. The company has once again contractedRimini Exploration to operate the project and conduct the geologicaland technical logging as well as handling, splitting, and sampling ofthe drill core.
Figure 1: McKenzie Gold Project, RedLake, Ontario, Canada
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 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 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.nxs.gold
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