Vancouver, Canada – December 8, 2016 – Nexus Gold Corp. (“Nexus” or the “Company”) (TSX-V: NXS, OTC: NXXGF, FSE: N6E) is pleased to announce it has contracted Forage FTE Drilling to begin a RAB (Rotary Air-Blast) drill program at its recently optioned Niangouela gold concession, Burkina Faso, West Africa.
The 178 square kilometre concession is located on the Boromo Greenstone Belt, same as the Company’s Bouboulou Gold Concession and is proximal to the Kalsaka deposit and the Sabce shear, a major gold bearing feature. It is road accessible and has one major orpaillage (artisanal workings). The RAB program will test ground in and around a recently observed quartz vein found on the property.
“The property’s proximity to a major structural gold bearing feature, the thickness of the vein, the fact that the vein orientation is oblique to the Sabce shear and hosted in intrusive rock, means it displays many similarities to the country’s one notable gold-bearing quartz vein deposit,” said Senior Geologist, Warren Robb, P.Geo. “On that basis, we’re going to begin testing Niangouela immediately.”
To date 556 pits and 11 trenches have been excavated, and rock and soil samples have been taken. A total of 1,137 samples have been collected. Previous programs have identified a zone which runs ENE and WSW occurring in the south central part of the concession. This zone has returned gold in soil samples up to 34 g/t Au, rock samples have returned values up to 18 g/t Au, and trenching has returned values of 4.85 g/t Au over 10 meters.Recent rock samples taken by Nexus returned values from 1.12 g/t Au to 2.49 g/t Au.
Commencement of the proposed work program is subject to completion of the acquisition, as announced on December 6, 2016, and the approval of the TSX Venture Exchange.
About Burkina Faso
Burkina Faso is a landlocked nation, located in West Africa. It covers an area of roughly 274,000 square kilometres and has an estimated population of more than 16 million people. The country has a stable political setting with a pro-mining and foreign investment stance. Burkina Faso is the fastest growing gold producer in Africa, and was the 4th largest gold producer in Africa in 2012. Eight new mines have been commissioned there over the past six years. The country has excellent geological potential. The Greenstone Belts that host all of the major deposits in Ghana and Cote d’Ivoire continue northward into Burkina Faso.Burkina Faso has undergone less than 15 years of modern mineral exploration, remaining under explored in comparison to neighbouring Ghana and Mali; both of which host world class gold mines in the same belts of Birimian rocks.
About the Company
Nexus Gold Corp. is a Vancouver-based mineral resource company that develops precious metal mineral assets in the world’s premier mining districts. The Company is currently concentrating its efforts on the Bouboulou Gold Concession, an advanced exploration project located in Burkina Faso, West Africa, and the Walker Ridge Gold Project, a drill-ready, multiple-target, Carlin-type gold project located in the Independence/Jerritt Canyon Gold Trend, Nevada, USA. For more information on these projects, please visit the company website at www.nexusgoldcorp.com.
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.
On behalf of the Board of Directors of
NEXUS GOLD CORP.
President and Chief Executive Officer
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.