(TheNewswire)
Vancouver, Canada – TheNewswire - June 7, 2023 – Nexus GoldCorp. (“ Nexus Gold ” or the “ Company ”)(TSXV:NXS ) , ( OTC:NXXGF ) , ( FSE:N6E) is pleased to announce it hassigned an option agreement to acquire a 90% interest in the 6,200-ha(62km²) Fofora Gold Project exploration permit located 450km to thesouthwest of Ouagadougou, Burkina Faso, West Africa. TheCompany can earn up to a 90% interest in the property by makinga combination of cash USD $300,000 and 500,000 share payments over 54months.
The Fofora permit is located on the eastern side of theHounde greenstone belt in the Kampti department; in the province ofPoni, near the border with Cote D’Ivoire. TheHounde Greenstone Belt is host to several large-scale operating goldmines, including Endeavour’s Mana and Hounde Mines, FuturnaSilver’s Yaramoko Mine as well as multiple other producing mines andlarge-scale discoveries.
The property has been explored in the past by Volta Resources andlater by Roxgold and Fortuna Silver. Previous work on the propertyhas identified a 2-kilometer gold in soil geochemical trend straddlingthe geological contact between andesitic and basaltic rocks. Thiscontact zone correlates well with the regional magnetic data. Siltsamples collected from adjacent drainages have returned reportedvalues of 327 & 127 ppb gold. A second target area is situated7000 meters south of the first trend. This is an area of activeartisanal mining. A rock sample collected here by the company inFebruary returned a value 9820 ppb (9.8 g/t) gold. See Figure 2below.
“With the addition of Fofora we now have three toptier gold exploration projects in our West African portfolio,” saidCEO, Milad Zareian. “We are eager to get back to work in Burkinaand look forward to drilling as soon as possible. We are hopefulthat once the rainy season is behind us later this summer that we’llbe able to announce a meaningful work program,” continued Mr.Zareian.
Fig 1: Nexus Gold projects,significant deposits/mines, Burkina Faso, West Africa
The property is immediately adjacent and contiguous toFortuna Silver’s Boussoura Project . Historical drill results* reported by Roxgold (nowFortuna Silver) returned the following results:
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35 metres (“m”) at 4.1 grams pertonne (“g/t Au”) in drill holeBSR-21-RC-FFR-218 from 86m including:
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9m at 12.1 g/t Au from 96m
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6m at 11.3 g/t Au in drill hole BSR-21-RC-FFR-167 from 90mincluding:
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1m at 65.6 g/t Au from 94m
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2m at 11.7 g/t Au in drill hole BSR-21-RC-FFR-187 from 37mincluding:
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1m at 20.9 g/t Au from 38m
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3m at 33.6 g/t Au in drill hole BSR-21-RC-FFR-201 from 6m
The company intends to conduct a first pass exploration program overthe summer to follow up on the areas mentioned above and to testadditional areas.
Fig 2: Soils, silts & samplelocations, Fofora Gold Project, Burkina Faso, West Africa
* Management cautions that pastresults or discoveries on adjacent properties may not necessarily beindicative of the presence of mineralization on the Company’sproperties.
Warren Robb P.Geo., Vice President, Exploration, is the designatedQualified Person and has reviewed and approved the technicalinformation contained in this release. It is the QP’s opinionthat the data as presented is adequate and can be relied upon for usein this press release.
About the Company
Nexus Gold is a Canadian-based gold exploration anddevelopment company with an extensive portfolio of projects in WestAfrica. The Company will continue development of assets in WestAfrica in addition to potentially broadening its scope to includeother jurisdictions.
For more information, please visit nxs.gold
On behalf of the Board of Directors of
NEXUS GOLD CORP.
Milad Zareian
CEO
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.
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