Tickers: XOTC:NXXGF, XTSX:NXS, FRAA:N6E
Vancouver, Canada / TheNewswire / May 11, 2017 - Nexus Gold Corp. ("Nexus" or the "Company") (TSX-V: NXS, OTC: NXXGF, FSE: N6E) is pleased to provide updates from its two gold exploration projects in Burkina Faso, West Africa.
Phase Two Drill Program at Niangouela Completed
The Company is pleased to report it has completed its phase two diamond drill program at the 178-square kilometre Niangouela exploration permit, located approximately 85 kilometres north of Ouagadougou. The completed drilling included the remaining phase one holes (approximately 500 metres) and an additional 2000 metres comprising the phase two program. A total of 18 holes, consisting of 2572 metres, were drilled in this latest round.
Eleven of the holes drill tested the westerly strike and dip extension of the main quartz-shear zone. Of the remaining seven holes, three tested the eastern extension of the main zone and four tested two of the newly identified zones (see news release of May 3, 2017).
In addition, the Company also completed a trenching program which consisted of six trenches totalling 384 metres. Three of the six trenches were designed to test the easterly strike extension of the main zone identified in phase one drilling, and to expose the trends of the mineralization identified by surficial mapping conducted by the Company. The remaining three trenches were dug to test newly discovered zones.
The phase two diamond drill program at Niangouela was undertaken to test the dip and strike extensions of gold mineralization identified by the Company in its initial phase one program. The program also tested additional targets identified through surface mapping and prospecting. To date the Company has now completed 4020.5 metres of diamond drilling at Niangouela. Results from the latest program will be released once received, reviewed and verified.
Previously announced phase one drill results can be found on the Company website here:
Bouboulou Drill Program Planned
The Company is now planning to commence a previously announced diamond drill program at its 38.8-sq km Bouboulou gold concession. Mobilization is set to commence mid June. A total of 2000 metres of diamond drilling is scheduled for phase one. Bouboulou is located approximately 75 kilometres north-west of the capital Ouagadougou, on the Boromo-Goren greenstone belt, and is bisected by the Sabce shear zone.
Four zones of gold mineralization have been previously identified on the property, termed Koala, Rawema, Bouboulou 2 and Pelgtanga. Bouboulou phase one drilling will initially test the Rawema and Bouboulou 2 zones, to depths of approximately 150 to 175 metres.
In 2011 and 2012 Roxgold Inc completed reverse circulation (RC) and diamond drilling (DD) programs to test these four mineralized zones. Historical drilling highlights from each of the four zones can be found on the Company website here:
The Company has subsequently identified three distinct 5000m (5km) long anomalous gold trends at the Bouboulou concession. Each of the three trends display strong coincidental geochemical and geophysical gold anomalies, and extend from the four drill-identified mineralized zones, namely Rawema, Pelgtanga, Bouboulou 2 and Koala. They are identified by numerous orpaillages and geochemical samples of greater than 1 g/t Au. All three of the Bouboulou trends display similar coincidental anomalies. Each trend has substantial artisanal workings either directly on them, or along trend.
A map of the three trends can be seen here:
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 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-sq km advanced exploration target where previous drilling has confirmed multiple zones of gold mineralization. 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.
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.
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