• TSX-V: NXS | US OTCQB: NXXGF | FSE: N6E

Tickers: US OTC: NXXGF, TSX.V: NXS, FSE: N6E
Tags: Mining, Gold, Precious Metals, Exploration                     

Vancouver, Canada / TheNewswire / October 27, 2016 - Nexus Gold Corp. ("Nexus" or the "Company") (TSX-V: NXS / OTC: NXXGF) is pleased to report that it has completed its compilation of historic exploration data on the Bouboulou Gold Concession, Burkina Faso, West Africa.

The compilation infills gaps in the exploration data that the Company had originally reviewed and displays three strong coincidental geochemical and geophysical anomalous gold trends. These new trends extend from the four drill-identified mineralized zones, namely Rawema, Peletanga, Bouboulou 2 and Koala.

Each of the three trends extends in length for 5000 meters (5KM). They are identified by numerous orpaillages and geochemical samples of greater than 1 gram per tonne gold.

The data used in the compilation includes airborne geophysics, rotary air blast drilling, geochemical sampling, reverse circulation drilling, diamond drilling and the location of orpaillages (zones of artisanal gold mining). The compiled data reviewed consists of over 7000 assays collected between 2011 and 2012.

From north to south the three trends are termed the PR, KB and B2. The northern most PR trend includes the Pelatanga and Rawema drill-identified mineralized zones and trends north east. This trend extends off the property onto the adjacent Bouda property and the mining operations conducted there.

The second KB trend is roughly parallel to the PR trend and extends from the Koala drill-identified mineralized zone north east below the Bouboulou 2 drill-identified mineralized zone.

The third B2 trend extends from an orpaillage located near the southern boundary of the property extending north and bisecting the KB trend and then extending through the Bouboulou 2 drill-identified mineralized zone culminating at the PR trend.

The data will be utilized in assisting the upcoming phase one drill program and determining suitable step-out drill locations for potential conformation drilling at a later date.

Bouboulou Gold Concession

The Bouboulou Gold concession is a near-surface, advanced stage gold exploration target located in a known gold belt, within a prolific and highly active area. The property has previously been drilled by Roxgold Inc, Riverstone Resources and Boliden. To date four zones of gold mineralization have been identified on the property.

Bouboulou was held by Boliden in 1997 as part of a much larger land package. Boliden completed regional Rapid Air Blast ("RAB") drilling on the property, comprising 25,400 meters. Included in this total was infill drilling which defined a northeast trending gold anomaly measuring 13 km by 2 to 6 km wide. The mineralization was described as disseminated sulphides in tuffs and dacites.

Historical Drill Results

Riverstone Resources completed several programs of regional and detailed geological mapping and sampling prior to the Roxgold work programs. Rock sampling and trenching within the Boliden anomaly returned gold grades from 1.09 to 19.16 g/t. Riverstone also completed an IP geophysical survey over the area of the highest gold values, and Roxgold drill tested a number of these targets. The following tables represent historical drill results as reported by Roxgold.

Significant Reverse Circulation drilling results include:

Hole

azimuth

dip

depth (m)

From

To

(metres)

(g/t Au)

Zone

BBL-11-RC-003

320

-55

103

24

34

10

1.10

Pelgtanga

      Includes

30

32

2

3.66

 
BBL-11-RC-005

120

-55

103

60

64

4

1.97

Bouboulou 2

BBL-11-RC-006

120

-67

115

70

110

40

1.548

Bouboulou2

      includes

70

90

20

2.255

 
      and

100

110

10

1.422

 
BBL-11-RC-012

120

-50

120

100

108

8

1.21

Rawema

BBL-11-RC-013

300

-50

109

74

109

35

2.209

Rawema

      includes

74

86

12

5.455

 
BBL-11-RC-020

270

-55

103

40

50

10

2.844

Koala

      includes

42

44

2

12.450

 
BBL-11-RC-021

240

-55

130

6

8

2

3.94

Koala

BBL-11-RC-022

140

-55

133

44

48

4

1.63

Koala

BBL-11-RC-024

320

-55

193

38

44

6

1.95

Pelgtanga

BBL-11-RC-027

120

-45

120

90

114

24

1.36

Bouboulou2

BBL-11-RC-042

320

-55

114

52

54

2

3.80

Pelgtanga

*The above reported data are drill intercept lengths are not true widths

Significant Diamond drilling results include:

Hole

azimuth

dip

depth (m)

From

To

(metres)

(g/t Au)

Zone

BBL-11-DD-002

315

-45

127

42

44

2

5.43

Rawema

BBL-11-DD-003

135

-45

142

56

58

2

5.33

Bouboulou2

        78

82

4

12.53

 
BBL-11-DD-005

300

-50

179

74

80

6

4.62

Rawema

      Includes

77.7

78

0.3

81.32

 
BBL-11-DD-008

320

-45

198

125

127

2

2.55

Koala

*The above reported data are drill intercept lengths are not true widths

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, and 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.

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.

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