Vancouver, Canada / TheNewswire February 28, 2018 – Nexus Gold Corp. (“Nexus” or the “Company”) (TSX-V: NXS, OTC: NXXGF, FSE: N6E) is pleased to provide select sampling results from its ongoing field exploration programs currently being conducted on its Niangouela and Bouboulou exploration permits, located in Burkina Faso, West Africa.
On the Bouboulou permit, rock samples were collected from a new orpaillage located some 600 meters south west of the Rawema showing which has returned drill intersections of 2.21 grams per tonne (“g/t”) gold (“Au”) over 35 metres, including 5.46 g/t Au over 12 metres, and 4.62 g/t Au over 6 metres, including 81.32 g/t Au over .3 metres. This new orpaillage occurs along strike of the Pelatanga-Rawema Trend outlined by the company.
Company geologists have sampled material recovered from new workings at a depth of 10 meters from surface which have returned results averaging 1.73 g/t Au, with the highest sample returning assay values of 5.56 g/t Au. The samples from the new orpaillage are tabled below:
|Sample #||Utm E||Utm N||Description||Au g/t|
|BBL-021||585940||1423775||Qtz bearing rock from orpaillage pit;10m depth||2.40|
|BBL-022||585916||1423755||Qtz bearing rock from orpaillage pit;10m depth||1.75|
|BBL-023||585902||1423737||Qtz bearing rock from orpaillage pit;10m depth||0.873|
|BBL-024||585867||1423730||Qtz bearing rock from orpaillage pit;10m depth||2.06|
|BBL-025||585869||1423727||Qtz bearing rock from orpaillage pit;10m depth||1.07|
|BBL-026||585858||1423719||Qtz bearing rock from orpaillage pit;10m depth||0.668|
|BBL-027||585844||1423736||Qtz bearing rock from orpaillage pit;10m depth||5.56|
|BBL-028||585835||1423734||Qtz bearing rock from orpaillage pit;10m depth||1.68|
|BBL-029||585887||1423718||Qtz bearing rock from orpaillage pit;10m depth||0.368|
|BBL-030||585887||1423718||Qtz bearing rock from orpaillage pit;10m depth||0.965|
Table 1: Select samples Bouboulou
Location of the known mineralized zones at the Bouboulou project
The company is also pleased to include assay results from two new orpaillages located on the Niangouela permit. One orpaillage is located south east of the company’s main shear discovery while the second showing is located 1900 meters West of the company’s main shear showing. Results from sampling of the two areas have returned results ranging from 0.368 g/t Au to 6.27 g/t Au. Results from the Niangouela sampling program is tabled below:
|Sample #||Utm E||Utm N||Description||Au g/t|
|NGL-50||632656||1446961||Qtz from orpaillage pit||0.266|
|NGL-51||632655||1446968||Qtz from orpaillage pit||0.038|
|NGL-52||632655||1446968||select material from the orpaillage||6.27|
|NGL-53||629052||1447457||Qtz+Py from orpaillage pit||0.083|
|NGL-54||629062||1447454||Qtz from orpaillage pit, 15m depth||0.311|
|NGL-55||629067||1447462||Qtz from orpaillage pit, 15m depth||3.93|
|NGL-56||629080||1447465||Qtz from orpaillage pit, 15m depth||< 0.005|
|NGL-57||629066||1447423||Qtz from orpaillage pit, 25m depth||0.524|
|NGL-58||629061||1447418||Qtz from orpaillage pit, 25m depth||0.173|
|NGL-59||628832||1447673||Qtz sub croup, N50, milky white, hematized||< 0.005|
|NGL-60||628846||1447683||Qtz sub croup, N50, milky white, oxidized||4.90|
Table 2: Select samples Niangouela
“The new zones we’ve uncovered and now sampled define greater areas of mineralization at both concessions,” said Chairman and COO, Alex Klenman. “The Bouboulou trends continue to return gold values along broad trends. Combined with the RC results we obtained from the adjacent Rakounga permit in November 2017, it is suggestive of significant gold mineralization at a district scale. The Sabce Shear, which bisects Bouboulou, is a well known, yet underexplored belt that hosts some of the largest gold deposits in the country, both to the south and to the east of our location. Our 2017 work confirmed and delineated five distinct zones that combined produce a very compelling overall target worthy of much more exploration. The new zone at Niangouela also advances our understanding of that project and suggests that other zones of gold mineralization are present. We are looking forward to ramping up our 2018 programs and moving our projects forward,” continued Mr. Klenman.
The Company is currently compiling all historical data and integrating it with all new data generated over the past 14 months at it’s 288-sq km Bouboulou-Rakounga concessions. The data is being used to generate a comprehensive 3D animation model of the Bouboulou-Rakounga mineralized zones that will aid the Company in targeting upcoming drill locations.
In addition, the Company is pleased to report it has initiated a technical report on the Bouboulou-Rakounga concessions. This report will provide valuable guidance to the Company’s 2018 drill plans and beyond, with the goal of establishing a resource estimate. Completion of the report is anticipated shortly.
2017 exploration highlights
At the 38-sq km Bouboulou permit, the first round of diamond drilling confirmed results identified in earlier exploration and successfully extended the gold mineralization at all four of the known gold target zones. At the Bouboulou 2 zone an intercept of 24.38 metres grading 1.04 g/t Au, extended the known gold mineralization to depth and along strike. At the Koala showing diamond drill intercepts of 23 g/t Au over 1.53 m and 15.5 g/t Au over 1.00 m.
At the 250-sq km Rakounga permit, the most westerly permit which is contiguous to the Bouboulou permit, a reverse circulation drill program completed returned intercepts of 1.04 g/t Au over 20 m, 1.01 g/t Au over 32 m, and 1.00 g/t Au over 34 m (including 5.60 g/t Au over 4 m) from three separate drill holes. These holes were spaced over 300 metres, to depths of 80 meters below surface at the Koaltenga showing. The extent of the workings at Koaltenga extend for an additional 800 meres giving the overall orpaillage a length of 1200 metres. Mineralization remains open to the east and west and to depth on the Koaltenga structure.
At the 178-sq km Niangouela permit, where the company has identified a high-grade quartz shear system containing coarse visible gold, diamond drilling returned values of 26.69 g/t gold over 4.85 m (includes 132 g/t Au over 1 m and 11.7 g/t gold over 0.62 meters) and select samples from workings on the shear that have returned assays of 2,950 g/t Au and 403 g/t Au. The gold mineralization has been traced by diamond drilling for some 200 metres along strike and remains open at depth.
The three properties are all hosted in the Goren greenstone belt in central Burkina Faso and are either underlain or are proximal to the Sabce Fault zone, a 140-kilometer structural feature which bisects the greenstone belt and hosts Norgold’s Bissa and Bouly mining operations.
The Company anticipates the resumption of exploration work at their Burkina Faso concessions in March.
Warren Robb P.Geo., Senior Geologist, is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.
About the Company
Nexus Gold Corp. is a Vancouver-based gold exploration and development company operating in some of the world’s premier mining districts. The Company is currently concentrating its efforts on two gold projects located in Burkina Faso, West Africa. The Bouboulou gold project consists of the 38-sq km Bouboulou claims and the adjacent 250-sq km Rakounga gold concession. The Niangouela gold concession is a 178-sq km project featuring high grade gold occurring in and around a primary quartz vein 1km in length and associated shear zone. For more information on these projects, please visit the Company website at www.nexusgoldcorp.com.
On behalf of the Board of Directors of
NEXUS GOLD CORP.
Chairman & COO
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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