(TheNewswire)
Vancouver, Canada– April 12, 2024 – TheNewswire – Nexus GoldCorp. (“ Nexus ” or the “ Company ”) (TSX-V: NXS, OTCQB: NXXGF, FSE:N6E) is pleased to provide a corporateupdate regarding its plans to return to the Dakouli 2 Gold Project,located in Burkina Faso, West Africa.
The Dakouli 2 property is a 9,800-ha gold project withseveral established zones of mineralization. Gold is situated fromnear surface to 200m depth, with the majority of the significant drillintercepts in the 100-meter range. The Company recently paid taxeson the property and intends to raise sufficient capital in the nearterm to begin multiple follow-up work programs during the remainder ofthe 2024 calendar year.
“Dakouli has proven to be a highly prospective goldtarget”, said Milad Zareian, CEO. “With gold showing stronggains now is the time for Nexus to get back to developing what is asuperb exploration project. West Africa holds some the planet’smost prolific gold endowments, and Dakouli is located on the one ofthe more prolific greenstone belts. We’re excited about gold’srecent rise and we believe now is the perfect time to ramp up ouroperations in West Africa,” continued Mr. Zareian.
Drilling to Date at Dakouli
In late 2020 the Company conducted a ReverseCirculation (“RC”) drill program at the 98-sq kms concessionconsisting of 2,914 meters of exploratory drilling. The first-everdrill program on the property was designed to test several areas thathave returned either high gold values from rock samples orcoincidental soil geochemical and geophysical anomalies proximal toartisanal workings (“orpaillages”).
Significant results wereencountered in several holes, including:
DKL-20-RC-007
-
4.83 grams-per-tonne (“g/t”) gold (“Au”) over20 meters
-
Including 14.51 g/t Au over 6m
-
And 39.6 g/t over 2m
DKL-20-RC-009
-
1.61 g/t Au over 10m
-
Including 4.11 g/t Au over 2m
DKL-20-RC-010
-
1.89 g/t Au over 8m
-
Including 6.54 g/t Au over 2
DRILL HOLE | AZ | DIP | FROM (METERS) | TO (METERS | INTERCEPT METERS | GOLD INTERCEPT GRAMS PER TONNE fire assay |
DKL-20-RC-007 | 350 | -60 | 108 | 138 | 30 | 3.31 |
108 | 128 | 20 | 4.83 | |||
108 | 126 | 18 | 5.35 | |||
108 | 124 | 16 | 5.92 | |||
INCLUDES | 108 | 110 | 2 | 1.175 | ||
110 | 112 | 2 | 1.06 | |||
118 | 120 | 2 | 2.28 | |||
120 | 122 | 2 | 39.6 | |||
122 | 124 | 2 | 1.645 | |||
DKL-20-RC-009 | 360 | -45 | 50 | 60 | 10 | 1.61 |
INCLUDES | 54 | 56 | 2 | 1.6 | ||
52 | 54 | 2 | 4.11 | |||
76 | 84 | 8 | 0.26 | |||
96 | 104 | 8 | 0.21 | |||
108 | 118 | 10 | 0.2 | |||
120 | 126 | 6 | 0.31 | |||
128 | 136 | 8 | 0.24 | |||
140 | 150 | 10 | 0.47 | |||
DKL-20-RC-010 | 360 | -45 | 64 | 66 | 2 | 1.46 |
74 | 82 | 8 | 1.89 | |||
INCLUDES | 2 | 6.54 |
In addition, several holes returned lengthy interceptsof sub-one gram gold, including DKL-20-RC-006 which returned .59 g/tAu over 18 meters, DKL-20-RC-017, which returned .91 g/t Au over 10m,and DKL-20-RC-002 which returned .64 g/t Au over 16 meters.
In the summer of 2021, the Company returned to Dakoulito conduct a 2000m follow up Diamond Drill program. Results fromthis program expanded upon the earlier RC drill results with severalsignificant intercepts:
DKL-21-DD-001
-
0.95 g/t Au over 23m
-
Including 1.01 g/t Au over 15m
-
1.46 g/t Au over 7m
-
Including 4.87 g/t Au over 1m and 6.88 g/t Au over1m
DKL-21-DD-002
-
1.90 g/t Au over 28m
-
Including 10.87 g/t Au over 4m
-
Including 15.1 g/t Au over 1m, and 17 g/t Au over1m
-
1.43 g/t Au over 10m
-
Including 10.6 g/t Au over 1m
DKL-21-DD-008
-
0.86 g/t over 17m
-
Including 1.18 g/t Au over 12m and 2.19 g/t Au over6m
DRILL HOLE | AZIMUTH | DIP | FROM | TO | LENGTH | Au g/t |
DKL-21-DD-001 | 0 | -60 | 80 | 81 | 1 | 2.87 |
103 | 135 | 32 | 0.75 | |||
INCLUDES | 112 | 135 | 23 | 0.95 | ||
INCLUDES | 120 | 135 | 15 | 1.01 | ||
123 | 135 | 12 | 1.14 | |||
Includes | 129 | 130 | 1 | 2.46 | ||
134 | 135 | 1 | 6.88 | |||
187 | 194 | 7 | 1.46 | |||
INCLUDES | 188 | 189 | 1 | 2.03 | ||
190 | 191 | 1 | 4.87 | |||
DKL-21-DD-002 | 0 | -50 | 75.5 | 77 | 1.5 | 1.94 |
91 | 119 | 28 | 1.90 | |||
INCLUDES | 91 | 95 | 4 | 10.87 | ||
91 | 92 | 1 | 15.10 | |||
94 | 95 | 1 | 17.00 | |||
102 | 103 | 1 | 1.78 | |||
106 | 107 | 1 | 1.09 | |||
110 | 111 | 1 | 1.79 | |||
118 | 119 | 1 | 2.38 | |||
144 | 145 | 1 | 2.04 | |||
154 | 164 | 10 | 1.43 | |||
INCLUDES | 156 | 157 | 1 | 10.60 | ||
DKL-21-DD-008 | 360 | -60 | 168 | 180 | 12 | 1.18 |
INCLUDES | 179 | 180 | 1 | 12.7 |
Drilling has so far primarily been confined to a smallsection in the upper northeastern portion of the concessionground.
Image 1: Location of Dakouli 2project, Goren Greenstone Belt, Burkina Faso, West Africa
Image 2: Bisecting Sabce faults(red) and artisanal zones, Dakouli 2 project, Burkina Faso, WestAfrica
About the Dakouli 2 GoldConcession
The Dakouli 2 exploration permit is a nearly 100-sq kmgold exploration property located approximately 100 kilometers duenorth of the capital city Ouagadougou. Situated on the Goren greenstone belt, Dakouli is proximal toNordgold’s Bissa Mine, and is bisected by the gold-bearing Sabceshear zone.
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. 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 northeast 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.
* Please note that while the Company considerssampling and reporting results from the new portions of theexploration permit to be accurate, readers are cautioned that aQualified Person has been unable to verify the laboratory involved inthe analysis of these samples, and no documentation was availableregarding quality control procedures utilized in the analysis.
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 exploration company witha focus on precious metals in proven global mining jurisdictions. The company’s primary asset is the 98-sq km Dakouli 2 GoldConcession, located in Burkina Faso, West Africa.
For more information, please visit nxs.gold
On behalf of the Board of Directors of
NEXUS GOLD CORP.
Milad Zareian, Chief ExecutiveOfficer
Tel: 416-846-4599
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.
Copyright (c) 2024 TheNewswire - All rights reserved.