Nexus Gold to Complete Initial Work Program at Bouboulou Concession, Burkina Faso
Tickers: US OTC: NXXGF, TSX.V: NXS, FSE: N6E
Tags: Mining, Gold, Precious Metals, Exploration
Vancouver, Canada – July 28, 2016 – Nexus Gold Corp. (“Nexus” or the “Company”) (TSX-V: NXS) is pleased to announce that it intends to complete an initial work program at the Bouboulou Gold Concession (“Bouboulou” or the “Property”), located in Burkina Faso, West Africa.
Preliminary work on the Property will consist of reviewing legacy data, data compilation, geological mapping, drill hole mapping and selection, rock and core geochemical re-sampling, ground confirmation, and sourcing of drill operator, equipment and crew. Diamond drilling is anticipated in early fall, after the completion of the rainy season in Burkina Faso. The work program will be overseen by Warren Robb, P.Geo.
Bouboulou covers an area of 38.3 square kilometers and is located approximately 100 kilometers north by northwest of the capital city of Ouagadougou. Exploration on the Property has been conducted by Boliden (1997 – 1999), Riverstone Resources (2005- 2011) and Roxgold Inc. (2011 to 2012). Past exploration has consisted of rotary air blast drilling, trenching, geological mapping, airborne EM and magnetometer and radiometrics, reverse circulation and diamond drilling.
Highlights of the previous exploration programs includes surface rock sampling and trenching returning gold grades from 1.09 to 19.16 g/t gold. Four zones of gold mineralization have been identified on the property termed Koala, Rawema, Bouboulou 2 and Pelgtanga.
Readers are cautioned that the acquisition of an interest in the Property remains subject to the approval of the TSX Venture Exchange. A work program cannot be completed on the Property until such time as that approval is obtained. The Company has applied to the Exchange for approval. For further information with respect to the acquisition of an interest in the Property by the Company, readers are encouraged to review the Company’s news release of July 11, 2016.
About Burkina Faso
Burkina Faso is a landlocked nation located in West Africa between Ghana and Mali, the second and third largest gold producing countries on the continent. It is underlain by rocks of the same age and history as its neighbors but it is still relatively under-explored compared to its neighbors. It covers an area of roughly 274,000 square kilometres and has an estimated population of more than 16 million people. The country is pro-mining and has a favorable foreign investment stance.
The country is the fastest growing gold producer in Africa. It is ranked 4th in the continent and 23rd worldwide in Current Mineral Potential Index in the “Survey of Mining Companies 2014” conducted by The Fraser Institute of Canada. Since 2013, there are seven gold mines in production. Other mining resources include manganese, bauxite, copper, nickel, lead, zinc, and limestone/marble.
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. Some of the world’s most productive mines are located in West African greenstone belts. These belts cover approximately 3, 000, 000 km², making the area’s exploration potential enormous. Burkina Faso currently accounts for 21% of West Africa’s greenstone belt exposure. 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 Walker Ridge Gold Project, a drill-ready, multiple-target, Carlin-type gold project located in the Independence/Jerritt Canyon Gold Trend, Nevada, USA and the Bouboulou Gold Concession, an advanced exploration project located in Burkina Faso, West Africa. For more information on these projects, please visit the Company website at www.nexusgoldcorp.com .
The technical content of this release was reviewed and approved by Warren Robb, P.Geo. a Qualified Person within the meaning of National Instrument 43-101.
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.