(TheNewswire)
Vancouver, Canada- TheNewswire - April 1, 2021 - Nexus GoldCorp. (“ Nexus ” or the “ Company ”) (TSXV:NXS )( OTC:NXXGF ) ( FSE:N6E) is pleased to report it hasreceived the results for the remaining six exploration holes drilledat its 100% owned Dakouli 2 Gold Project, located in Burkina Faso,West Africa.
Drill holes DKL-2020-RC-017 and 018 in this maidendrill program were conducted along the same fence as holesDKL-2020-RC-06 through 11 and positive results have extended thestrike of the gold mineralization identified in those holes to over400 meters. This zone of mineralization has been intersected tovertical depths of 114 meters and remains open to depth and alongstrike to the west.
Significant results include:
-
- Hole DKL-2020-RC-016 returned 8 meters of 1.13grams-per-tonne (“g/t”) gold (“Au”), including 2 meters of3.99 g/t Au
- Hole DKL-2020-RC-017 which intersected 52 meters of.30 g/t Au, including 18 meters of .59 g/t Au, and 10 meters of 0.91g/t, and 4 meters of 2.08 g/t Au
- Hole DKL-2020-RC-018 which intersected 6 meters of1.35 g/t Au, including 2 meters of 3.36 g/t Au, and 8 meters of .53g/t Au, and 2 meters of 1.43 g/t Au
The results of these holes are tabled below:
Hole ID | UTM E | UTM N | DIP | Azimuth | ELEV | FROM | TO | LENGTH (meters) | Au G/T |
DKL-20-RC-016 | 636997 | 1445698 | -55 | 360 | 293 | 4 | 12 | 8 | 1.13 |
Includes | 10 | 12 | 2 | 3.99 | |||||
DKL-20-RC-017 | 637099 | 1445774 | -50 | 360 | 310 | 88 | 140 | 52 | 0.30 |
Includes | 88 | 130 | 42 | 0.34 | |||||
Includes | 102 | 120 | 18 | 0.59 | |||||
Includes | 102 | 112 | 10 | 0.91 | |||||
Includes | 102 | 106 | 4 | 2.08 | |||||
DKL-20-RC-18 | 636688 | 1445765 | -50 | 360 | 294 | 76 | 82 | 6 | 1.35 |
Includes | 78 | 80 | 2 | 3.36 | |||||
And | 88 | 118 | 30 | 0.27 | |||||
Includes | 88 | 96 | 8 | 0.53 | |||||
Includes | 92 | 94 | 2 |
To the west of this reported drilling the Company hasidentified a geochemical gold trend which extends for over 1000meters. See following map:
“Results from these last few holes continue to addmore positive data to the discovery at Dakouli,” said President andCEO, Alex Klenman. “We are seeing zones of higher grade materialin conjunction with lengthier runs of near one-gram gold in thisnortheast corner of the property. The goal now is to increase themineralized footprint in a westerly direction, and ultimately to thesouthwest, where favorable geochemical results present a number ofcompelling drill targets over a significant distance. It’s quite alarge area, so we have lots of ground to test. We’re going back toDakouli in the next few weeks, before the onset of the wet season,where we will continue to define the scope and breadth of the goldmineralization encountered so far,” continued Mr. Klenman.
“This is a very interesting system we haveintersected, as we have had a couple of longer intercepts running halfa gram and a number of more consistent zones running around 4grams,” said Warren Robb, VP of Exploration. “The system istrending to the west and our efforts moving forward will be to test,with a diamond drill, this several kilometers long corridor that ourtermite mound and soil geochemistry has outlined. This will help usto gain a better understanding of the nature of the mineralization andthe geology hosting it,” continued Mr. Robb.
The assay results were delayed due to Quality Control(“QC”) checks implemented by the Company. The QP for the Companyis satisfied that the Company's data verification procedures weresufficient to identify any precision and accuracy errors andimplemented check analysis to determine and report accurate gold assaydata.
A follow up diamond drill program is scheduled for May. Details will be announced in the coming weeks.
Drilling to Date at Dakouli
The maiden 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(“orpaillages”). Drilling has so far primarily been confined toa small section in the upper northeastern portion of the concessionground.
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.
Table of significant results, maidendrill program:
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 | 0.35 |
DKL-20-RC-002 | 625218 | 1441603 | -55 | 350 | 281 | 42 | 58 | 16 | 0.64 |
DKL-20-RC-006 | 637023 | 1445782 | -45 | 360 | 286 | 82 | 118 | 36 | 0.33 |
Includes | 100 | 118 | 18 | 0.59 | |||||
Includes | 108 | 110 | 2 | 1.78 | |||||
116 | 118 | 2 | 1.52 | ||||||
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 |
Figure 2: Drill hole locations, 2020maiden drill program, Dakouli 2 gold concession, Burkina Faso, WestAfrica
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 (see Company news releases datedJanuary 8 and 15, 2019, June 23, 2020, and September 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 3: Dakouli 2 artisanal zonesand 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.
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 Closes Private Placement
The Company also announces thatit has closed a non-brokered private placement through the issuance of6,592,640 units (each, a “ Unit” ) for gross proceeds of $329,632. Each Unit consists of one common share of the Company, and onecommon share purchase warrant exercisable to acquire an additionalshare at a price of $0.07 for a period of thirty-six months.
No finders’ fees or commissions were paid inconnection with completion of the initial tranche of the privateplacement. All securities issued in connection with the Offering aresubject to a four-month-and-one-day statutory hold period inaccordance with applicable securities law. Completion of a furthertranche of the private placement remains subject to approval of theTSX Venture Exchange.
The Company anticipates utilizing the proceeds of theOffering to advance exploration and drilling efforts at theCompany’s Dakouli 2 Gold Concession, located in Burkina Faso, WestAfrica, and for general working capital purposes.
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
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