Vancouver, Canada / TheNewswire / October 25, 2018 – Nexus Gold Corp. (“Nexus” or the “Company”) (TSX-V: NXS, OTCQB: NXXGF, FSE: N6E) is pleased to report initial results from the first few holes drilled during its recent reverse circulation drill program completed at the Rakounga gold concession, located 109 kilometers north of Ouagadougou, Burkina Faso.
The reverse circulation drilling was conducted in two portions consisting of step out drilling on the previously identified gold mineralization at the Koaltenga zone. The goal of the step out holes was to, if possible, extend the strike length of the Koaltenga gold zone and further define the mineralized structure.
Significant results from the step out drilling at Koaltenga were obtained in holes RKG-18-RC-027 which returned 1.0 gram per tonne (“g/t”) gold (“Au”) over 10 meters (including 2.67 g/t over 2 meters, and 1.25 g/t Au over 2 meters), hole RKG-18-RC-035 which returned 0.50 g/t Au over 12 meters (including 2.00 g/t over 2 meters), and 0.40 g/t Au over 10 meters respectively. These results combined with the 32 meters of 1.01 g/t Au (including 6 meters of 2.81 g/t Au, and 2 meters of 5.65 g/t Au) and the 34 meters of 1.00 g/t Au (including 4 meters of 5.57 g/t Au) recovered from RC holes RKG-17-RC-002 and RKG-17-RC-008 respectively, drilled in November 2017, now outlines a mineralized gold structure with a strike length of at least 600 meters. An additional 600 meters identified through the recent sampling programs, active orpaillages (artisanal mining activity), and coincidental geophysics, extends the strike length to a total 1200 meters (see figure 1).
“This is a prominent structure that we’ve found,” said Vice President of Exploration, Warren Robb. “The results of the first few holes from the recent program, combined with our soil-grid geochemical program and re-interpretation of the Regional Geophysical data, outline a coincident anomalous gold trend extending for at least 1200 meters. This is a significant development and we will execute additional ground work to determine the parameters of this expanding zone,” continued Mr. Robb.
Koaltenga significant results to date (see figure 1):
|HOLE||FROM (meters)||TO (meters)||LENGTH (meters)||GRADE (grams/tonne)|
Figure 1: Koaltenga Gold Zone – 1200m strike length with significant drill holes. Red circles indicate higher anomalous gold readings greater than 100 ppb
The Koaltenga zone is one of three drill-tested zones at the 250-sq km Rakounga concession, which borders the Company’s 38-sq km Bouboulou concession. The Company acquired the property in the fall of 2017 and followed up with a successful drill program, confirming significant gold mineralization over three specific zones (see Company news releases of November 16, 2017, and December 13, 2017).
The 250-sq km Rakounga concession borders the Company’s 38-sq km Bouboulou concession. To date eight distinct gold zones over the 288-sq km (28,000 ha) combined project area have been identified, sampled and drill-tested. Complete results to date are available on the corporate website: www.nexusgoldcorp.com.
In the summer of 2018 the Company completed a 9-km soil grid geochemical program designed to investigate the gold bearing potential on the permit ground occurring between the Koaltenga gold zone, located near the western boundary of the Rakounga concession, and Pelatanga-Rawema gold trend, on the Company’s adjacent Bouboulou exploration permit (see figure 2).
Results from the survey successfully identified an anomalous gold trend which extends for approximately 7,000 meters (seven kilometers) along the southwest-northeast axis and broadens to widths of 2,500 meters. The newly identified 7,000-meter gold trend at Rakounga aligns with the 5km Pelatanga-Rawema (“PR”) trend previously identified on the adjacent Bouboulou concession, indicating the mineralized footprint at the combined Bouboulou-Rakounga concessions now exceeds 15km in length.
Figure 2: 15-kilometer PR Trend across the Rakounga-Bouboulou Gold Concessions, Burkina Faso
The Company will continue to define through ground work the extent of mineralization present on the combined Bouboulou-Rakounga project with the goal of producing a compliant resource estimate.
About the Company
Nexus Gold is a Vancouver-based gold exploration and development company operating primarily in Burkina Faso, West Africa. The company is currently concentrating its efforts on establishing a compliant resource at one or more of it’s three current projects. The 38-square km Bouboulou project comprises no less than five established gold zones contained within three separate 5km gold trends. The adjacent 250-square km Rakounga gold concession extends the Bouboulou gold trends and currently contains three drill tested zones of gold mineralization. The Niangouela gold concession is a 178-square km project featuring high-grade gold occurring in and around a primary quartz vein and associated shear zone approximately one km in length.
Warren Robb P.Geo., Vice-President, Exploration, is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.
On behalf of the Board of Directors of
NEXUS GOLD CORP.
President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
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