- Soil grid program confirms 7km trend across Rakounga concession extends
- mineralized footprint between Koaltenga and Pelatanga gold zones
Vancouver, Canada / TheNewswire / August 30, 2018 – Nexus Gold Corp. (“Nexus” or the “Company”) (TSX-V: NXS, OTC: NXXGF, FSE: N6E) is pleased to report that it has received results from its recently completed 105-line kilometer soil sampling survey conducted on the Rakounga exploration permit located 109 kilometers north west of the capital city of Ouagadougou, in Burkina Faso, West Africa.
The survey was 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 1).
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.
“The goal of the soil grid program was to establish continuity of the gold trends at Bouboulou onto the adjacent Rakounga concession,” said president & CEO, Alex Klenman. “The results indicate a sizeable trend extends from the northeast of Bouboulou to the southwest of Rakounga. We’re pleased with the results, that’s a big footprint, and suggestive of the potential at Rakounga,” continued Mr. Klenman.
“It is impressive how the geochemical data highlights the gold trend coming off the Bouboulou ground,” said Senior Vice-President of Exploration, Warren Robb. “We will combine this data with the regional geophysics data to identify any coincidental anomalies, and then look to test those anomalies along the trends,” continued Mr. Robb.
Prior drilling by the Company at Koala, along the northeastern part of the trend, returned several intercepts of note, including 5.21 grams-per-tonne (“g/t”) gold (“Au”) over 3.05 meters, including 15.50 g/t Au over 1 meter (hole BBL-17-DD-07), and 4.41 g/t Au over 8.15 meters, including 23 g/t Au over 1 meter (hole BBL-17-DD-08) (see Company news release dated October 5, 2017).
Previous drilling conducted by the Company at Koaltenga, at the southwestern extension of the trend, returned significant results including 1.01 g/t over 32 meters (including 5.65 g/t Au over 2 meters and 2.81 g/t Au over 6 meters in hole RKG-17-RC-002) and 1.00 g/t gold over 34 meters (including 5.57 g/t Au over 4 meters in hole RKG-17-RC-008) (see Company news release of December 13, 2017).
The survey covered an area underlain by the Sabce fault zone, a prominent structural feature which extends some 200 kilometers across the Goren greenstone belt.
Figure 1: Newly confirmed PR Trend extension at the Rakounga gold concession, Burkina Faso
The 105-line kilometer geochemical soil survey included line spacing of 400 meters with samples collected at stations established along the lines at intervals of 50 meters. A total of 1,960 samples were submitted to ACTLABS for analysis at their laboratories in Ouagadougou, Burkina Faso. The soil samples were analyzed utilizing the Au Cyanidation Atomic Absorption method. In addition to the laboratories internal QA/QC procedures the Company maintained its own QA/QC protocol of inserting standards, blanks and duplicates into the sampling stream.
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 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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