08:16:47 EST Fri 21 Feb 2020
Enter Symbol
or Name

Nexus Gold Corp
Symbol NXS
Shares Issued 96,688,463
Close 2017-01-24 C$ 0.175
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Nexus Gold samples up to 403 g/t Au at Niangouela

2017-01-24 09:10 ET - News Release

Mr. Peter Berdusco reports


Nexus Gold Corp. has received gold assays from five further samples taken from its Niangouela gold project located in Burkina Faso, Africa.

The company's exploration team returned to the property in early January, 2017, to further investigate the main quartz vein on the Niangouela permit. During this visit, the company's geologists recovered quartz vein material from two separate shafts currently being exploited by artisanal miners (orpilleurs).

Sample NG007, which was taken from material extracted from the eastern shaft and from a depth of approximately 60 metres, returned values of 403 grams per tonne gold. The sample consisted of several fragments of quartz vein material containing host rock inclusion, and containing steaks and blebs of coarse visible gold.

Sample NG008 was taken from the western shaft, 10 metres to 12 metres west of the eastern shaft. This sample consisted of a single large piece of primary quartz vein containing host rock inclusions and also showed a cluster of visible gold. NG008 returned values of 49.8 grams per tonne gold.

The samples were analyzed by Actlabs Ouagadougou, an independent ISO 9001-certified laboratory. Samples NG007 and NG008 underwent a metallic screen analysis whereby a representative 500-gram split is sieved at 100 mesh (149 micron) with assays performed on the entire plus 100 mesh and two splits (A and B in the attached table) of the minus-100-mesh fraction. A final assay is calculated based on the weight of each fraction.

         Au  plus 100 mesh    Au minus 100 mesh (A)   Au minus 100 mesh (B)   Total Au 
Sample               (g/mt)                  (g/mt)                  (g/mt)       (g/t)

NG007                  718                     376                     371         403         
NG008                 85.6                      46                    48.5        49.8         

Three additional samples were collected and underwent conventional fire assaying at Actlabs. Sample NG009, a sample of sheared intrusive taken from the eastern shaft, returned 4.29 grams per tonne gold. Sample NG010, a sample of dump material consisting of sheared volcanic sedimentary rock, returned 0.113 gram per tonne gold. Sample NG011, from the primary quartz vein taken from a surface dump, returned 14.3 grams per tonne gold.

"These samples from the vein and elsewhere continue to confirm the presence of high-grade gold at Niangouela," said president and chief executive officer Peter Berdusco. "We are seeing an abundance of visible gold and some significant assay values."

"The presence of visible gold is always encouraging, and it will be really exciting to see what type and thickness of drill intercepts we uncover with a drill program," said senior geologist Warren Robb.

The presence of coarse visible gold requires that the company review the material it is analyzing in order to understand the size and the distribution of gold particles within the primary quartz vein. This information will assist the company's geological staff in selecting the appropriate analysis technique to determine future grade and tonnage estimates.

The company is currently planning a comprehensive diamond drill program to test the primary quartz vein at depth and along strike.

The company also announces that it will grant 1.8 million incentive stock options to directors, officers and consultants of the company. The options will be exercisable at a price of 16 cents for a period of five years. The grant remains subject to the approval of the TSX Venture Exchange.

About the Niangouela gold concession

The 178-square-kilometre Niangouela gold concession is located on the Boromo greenstone belt (as is the company's Bouboulou gold concession), and is proximal to the Kalsaka deposit and the Sabce shear zone. It is accessible by road and has one major orpaillage (artisanal workings).

In December, 2016, the company conducted an 802-metre rotary air blast (RAB) drill program that delineated a 1,000-metre quartz vein and a 500-metre secondary strike, running oblique to the main vein. This vein has now been identified in trenches, artisanal workings and RAB drilling. It remains open in all directions. Two samples were collected at this time. Sample NG005 was taken directly from the primary quartz vein at a 46-metre depth, accessed through an artisanal mining shaft. As reported in the Jan. 11, 2017, company news release, this sample returned a value of 2,950 grams per tonne gold. Sample NG006 was collected from the artisanal dumps of the sheared intrusive and returned a value of 23.9 grams per tonne gold.

Historical exploration at Niangouela consists of 556 pits and 11 trenches, with numerous rock and soil samples. Previous programs have identified a zone which runs east-northeast and west-southwest in the south-central part of the concession. This zone has returned gold in soil samples of up to 34 grams per tonne Au. Rock samples have returned values of up to 18 grams per tonne Au, and trenching has returned values of 4.85 grams per tonne Au over 10 metres. Historical assays of 5.93 grams per tonne, 4.83 grams per tonne and 4.12 grams per tonne Au over sample lengths of two metres have been returned from trenching over the vein. A qualified person has not taken steps to verify these data.

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 fourth-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 the Ivory Coast continue northward into Burkina Faso. Burkina Faso has undergone less than 15 years of modern mineral exploration, remaining underexplored in comparison with neighbouring Ghana and Mali, both of which host world-class gold mines in the same belts of Birimian rocks.

About the company

Nexus Gold 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 concession is a 38-square-kilometre advanced exploration target where previous drilling has confirmed multiple zones of gold mineralization. The Niangouela gold concession is a 178-square-kilometre project featuring high-grade gold occurring in and around a primary quartz vein one kilometre in length.

Warren Robb, PGeo, 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.

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