2017-04-05 11:24 ET – News Release

Mr. Peter Berdusco reports


Nexus Gold Corp. has completed its phase 1 diamond drill program at the 178-square-kilometre Niangouela exploration permit, located approximately 85 kilometres north of Ouagadougou, Burkina Faso. A 2,000-metre phase 2 program is now under way to test down the dip and strike extensions of gold mineralization identified by the company in its phase 1 program. The program will also test additional targets identified through surface mapping and prospecting. Results will be released once received, reviewed and verified.

The first-phase diamond drill program was designed to test ground defined by anomalous rock samples collected from underground artisanal workings and anomalous rotary air blast (RAB) drilling completed by the company in December, 2016. This initial program successfully intersected gold mineralization in eight of the first nine holes drilled on the concession. The mineralization was contained in a silicified shear zone occurring in the host granite. Quartz veining is associated with the shear zone.

Additional analysis of first assay results

The initial assays from the first nine diamond drill holes at Niangouela, as announced in the company’s March 7, 2017, news release, have undergone additional analysis. The company applied metallic screen analysis and bulk leach extractable gold (BLEG) analysis, in addition to gravimetric fire analysis.

This additional analysis has resulted in the change in values of several intercepts originally released on March 7, 2017, including hole NGL-17-DD-008, which saw an increase from 8.50 grams per tonne gold over 0.62 metre to 11.7 grams per tonne gold over 0.62 metre and from 120 grams per tonne gold over one metre to 132 grams per tonne gold over one metre. In addition, hole NGL-17-DD-009 increased from 2.61 grams per tonne gold over four metres to 2.95 grams per tonne gold over four metres. This hole also gained an additional one metre of 5.00 grams per tonne gold.

“The presence of free gold and the results of the BLEG and metallic screen analysis has demonstrated the need for ensuring that the maximum amount of material is being analyzed,” said senior geologist Warren Robb. “The company will be employing the appropriate method to gain the most representative gold value as is possible,” continued Mr. Robb.

The updated assay results from the phase 1 program to date are shown in the attached table.

Hole ID                 From           To    Intercept         Au
                          (m)          (m)          (m)      (g/t)
NGL-17-DD-001          76.00        87.00        11.00    0.37 (1)
includes               83.00        84.00         1.00       1.21
NGL-17-DD-002          84.50        85.50         2.00       1.05
                      104.50       105.50         1.00       1.32
NGL-17-DD-003          86.40        91.50         5.10       1.80
includes               86.40        87.50         1.10       6.14
NGL-17-DD-004         121.00       124.00         3.00    0.96 (1)
includes              122.00       123.00         1.00    1.47 (3)
NGL-17-DD-005         No significant results
NGL-17-DD-006          65.00        71.20         6.20       4.00
includes               70.20        71.20         1.00   20.50 (1)
NGL-17-DD-007         102.00       109.20         7.20       1.01
includes              104.00       105.00         1.00       2.34
and                   106.20       107.20         1.00       1.92
NGL-17-DD-008          57.00        61.85         4.85      26.69
includes               58.35        58.97         0.62    11.7 (1)
and                    58.97        60.00         1.03  132.00 (1)
NGL-17-DD-009          74.50        78.50         4.00    2.95 (1)
includes               74.50        75.50         1.00    5.00 (1)
and                    76.50        77.50         1.00    5.92 (1)

(1) Denotes metallic screen analysis   
(2) Denotes gravimetric fire assay analysis
(3) Denotes bulk leach extractable gold analysis
Note: All assay results represent intercept lengths 
and are not true widths.

The sampled core was delivered to the independent Actlabs laboratory in Ouagadougou, where the samples underwent analysis by fire assay with an atomic absorption finish. If samples returned values greater than 10 parts per million gold, the sample was reanalyzed by gravimetric fire assay. Samples with identified visible gold were analyzed using a fire assay metallic screen analysis. The company employs a quality assurance/quality control program of inserting standards, blanks and duplicates into the samples stream as a supplement to the internal checks employed by Actlabs.

The drill program tested the shear zone for over 200 metres along strike and intercepted the zone to depths of 105 metres below surface. The shear zone remains opens along strike and to depth.

About the Niangouela gold concession

The 178-square-kilometre Niangouela gold concession is located on the Boromo greenstone belt 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 an approximately 1,000-metre (one-kilometre) 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 through RAB drilling. It remains open in all directions.

A total of 11 rock-chip and grab samples were taken during the initial exploration phase. Sample NG005, taken directly from the primary quartz vein at a depth of 46 metres, returned a value of 2,950 grams per tonne gold. Sample NG007, which contained coarse visible gold and was taken from material extracted from a depth of approximately 60 metres, returned a value of 403 grams per tonne gold. Sample NG008, a single large piece of primary quartz vein containing host rock inclusions and a cluster of visible, returned a value of 49.8 grams per tonne gold.

The company then followed up with the first-ever diamond drill program at the concession. Eight of the first nine drill holes successfully intercepted gold, with highlights including 26.69 grams per tonne gold over 4.85 metres (including one metre of 132 grams per tonne gold) and 4.00 grams per tonne gold over 6.2 metres (including one metre of 20 grams per tonne gold). All mineralization in these first nine holes was present at depths of 57 metres to 124 metres below surface.

About Nexus Gold Corp.

Nexus Gold 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 and associated shear zone.

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.

We seek Safe Harbor.

© 2017 Canjex Publishing Ltd. All rights reserved.


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