tmx : NXS     OTC: NXXGF   FSE: N6E     

JOIN OUR  MAILING LIST!      SUBSCRIBE

banner home

A Resource Exploration

And Development Company

Tickers: OTC:NXXGF, TSX:NXS, FRAA:N6E
Tags: Mining



  • - Four of the first five drill holes intersect gold

    - Hole RC-001 returns 26m of .82 g/t Au, including 2m of 4.11 g/t Au

    - Hole RC-002 returns 32m of 1.01 g/t Au, including 2m of 5.65 g/t Au

    - Hole RC-003 returns 6m of 1.06 g/t Au & Hole RC-005 returns 4m of 1.38 g/t Au

Vancouver, Canada / TheNewswire / November 16, 2017 - Nexus Gold Corp. ("Nexus" or the "Company") (TSX-V: NXS, OTC: NXXGF, FSE: N6E) is pleased to announce assay results from the first five reverse circulation ("RC") drill holes conducted at the Rakounga gold concession, located 109 km north of Ouagadougou, Burkina Faso.

Gold mineralization was intersected in four of the first five holes drilled on the property. Significant results were returned from holes RKG-17-RC-001 and RKG-17-RC-002, which returned extended intercepts of 26 metres grading 0.82 grams per tonne ("g/t") gold ("Au"), including two metres of 4.11 g/t Au, and 32 metres of 1.01 g/t Au, including two metres of 5.65 g/t Au, respectively.

The current drill program is designed to test the mineral bearing potential of the artisanal workings (orpaillages) referred to as Koaltenga, Porphyry and Gounga. All five holes targeted the Koaltenga zone, an approximately 800m long active orpaillage.

Results of the first five RC holes at Rakounga are tabled below:

DRILL HOLE

DIP

FROM (metres)

TO (metres)

LENGTH (metres)

Au gram/tonne

Zone

RKG-17-RC-001

-50

102

128

26

0.82

Koaltenga

includes

108

110

2

4.11

Koaltenga

includes

110

112

2

2.44

Koaltenga

includes

112

114

2

2.36

Koaltenga

RKG-17-RC-002

-50

108

140

32

1.01

Koaltenga

includes

112

114

2

2.36

Koaltenga

includes

114

116

2

2.99

Koaltenga

includes

116

118

2

3.10

Koaltenga

includes

120

122

2

5.65

Koaltenga

RKG-17-RC-003

-50

108

114

6

1.06

Koaltenga

RKG-17-RC-004

-50

NSR

Koaltenga

RKG-17-RC-005

-50

130

132

4

1.38

Koaltenga

"We're pleased with what is an excellent start to this program," said Nexus senior geologist, Warren Robb. "We are encouraged with the extent of these intercepts and will continue to test these structures along strike," continued Mr. Robb.

The 250-sq km Rakounga concession borders the Company's 38-sq km Bouboulou concession. The Company recently announced results from its maiden diamond drill program at Bouboulou, with nine of the first 10 holes successfully intersecting gold. Highlights of that program include 4.41 g/t Au over 8.15m, including 23 g/t Au over one metre, 5.21 g/t Au over 3.05m, including 15.50 g/t Au over one metre, and 1.04 g.t Au over 23m.

Rock sampling completed by the Company at Rakounga has yielded positive results at each of the three orpaillages mentioned above. Four rock samples were collected from the Porphyry orpaillage returning elevated gold values of 19.95 g/t Au, 2.57 g/t Au, and 1.175 g/t Au, respectively.

A total of eight samples were collected from workings from the Gounga orpaillage, located approximately 1000 metres south of the Porphyry orpaillage. Samples GGA-05 and GGA-07 returned gold values of 14.90 g/t Au, and 5.30 g/t Au, respectively.

Initial rock samples from dumps of the artisanal workings at the Koaltenga orpaillage returned values of 17.30 g/t Au, 2.33 g/t Au, and 1.45 g/t Au, respectively.

To date a total of eight gold bearing zones have been identified at the Bouboulou and Rakounga concessions. Drilling is ongoing and additional results will be released when received, reviewed and verified.


Click Image To View Full Size

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 project consists of the 38-sq km Bouboulou claims and the adjacent 250-sq km Rakounga gold concession. 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.

Peter Berdusco
President and Chief Executive Officer

604-558-1920
www.nexusgoldcorp.com

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.

Copyright (c) 2017 TheNewswire - All rights reserved.