Rakounga Gold Concession

Burkina Faso, West Africa
250-sq km concession contiguous to Bouboulou, hosts Bouboulou 1 gold showing and significant artisanal mining activity
  • The 250-sq km Rakounga concession, contiguous to Bouboulou concession, contains multiple active orpaillages, namely Koaltenga, Gounga and Porphyry, which confirm widespread gold mineralization is present
  • In the summer of 2017, the Company began a sampling program at Rakounga, with select sample highlights including 19.95 g/t Au at Porphyry, 14.90 g/t Au, at Gounga, and 17.30 g/t Au at Koaltenga
  • A 3000m RC drill program was conducted in October 2017, with 10 holes at Koaltenga successfully identifying a broad zone of gold mineralization extending over 300 meters along strike and to depths of 80 metres below surface
  • Highlights include hole RC-002 which intersected 32m of 1.01 g/t Au, including 2m of 5.65 g/t Au, and 6m of 2.81 g/t Au, and hole RC-008 which returned 34m of 1.00 g/t Au, including 4m of 5.57 g/t Au.
  • This structure remains open along strike both to the north east and south west and to depth

RC Results – Koaltenga Zone

  • Koaltenga is an expanding and active orpaillage
  • The workings feature broad intercepts containing zones running 4 to 6 grams Au suggesting a prominent primary structure which has permeated out into the surrounding schists and volcanic rocks
  • Drill results now outline a trend of gold occurrences extending for over 16 kilometres between the company’s Rakounga and Bouboulou concessions

On December 4, 2019, Nexus entered an earn-in agreement with a private company, Kruger Gold, in which the optionee can earn a 75% interest in the Rakounga project by paying Nexus $1M CDN over 48 months, while conducting $1.25 CDN in work commitments over a 60-month period.

Subsequently, in February 2020, it was announced that Arbor Metals had entered a purchase agreement to acquire Kruger Gold, and upon completion of the proposed acquisition, would assume control of the earn-in agreement with Nexus.