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NEXUS GOLD BEGINS PHASE TWO DRILLING AT NIANGOUELA GOLD CONCESSION, BURKINA FASO, WEST AFRICA

Company News, Company News Archive, Featured, ,

2017-04-05 11:24 ET – News Release

Mr. Peter Berdusco reports

NEXUS GOLD BEGINS PHASE TWO DRILLING AT NIANGOUELA GOLD CONCESSION, BURKINA FASO, WEST AFRICA

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.

Disclaimer

© 2010 Junior Gold Report

Junior Gold Report Newsletter: Junior Gold Report’s Newsletter is published as a copyright publication of Junior Gold Report (JGR).  No Guarantee as to Content:  Although JGR attempts to research thoroughly and present information based on sources we believe to be reliable, there are no guarantees as to the accuracy or completeness of the information contained herein. Any statements expressed are subject to change without notice. It may contain errors and you should not make any investment decisions based on what you have read on here. JGR, its associates, authors, and affiliates are not responsible for errors or omissions. Consideration for Services: JGR, it’s editor, affiliates, associates, partners, family members, or contractors may have an interest or position in the featured companies, as well as sponsored companies which compensate JGR. JGR, it’s owner and affiliates/associates may buy/sell and trade the featured companies from time to time. JGR has been paid by the companies. Thus, multiple conflicts of interest exist. Therefore, information provided here within should not be construed as a financial analysis but rather as an advertisement. Conduct your own due diligence: The author’s views and opinions regarding the companies featured in report(s) are his/her own views and are based on information that he/she has researched independently and has received, which the author assumes to be reliable. You should never base any buying/selling/trading decisions off of our emails and newsletter. The ideas and companies featured are highly speculative and you could lose your entire investment – consult a licensed financial advisor if you are considering investing in any of the featured companies. Subscribers/readers are encouraged to conduct their own research and due diligence. The companies mentioned are high risk and considered penny stocks that contain a high risk of volatility, therefore consult your investment advisor and do your own due diligence before purchasing. Never base any investment decision on information contained in our website or emails or any of our publications. No Offer to Sell Securities: JGR is not a registered broker dealer, investment advisor, financial analyst, stock pickers, investment banker or other investment professional. JGR is intended for informational, educational and research purposes only. It is not to be considered as investment advice. No statement or expression of any opinions contained in this report constitutes an offer to buy or sell the shares of the companies mentioned herein. Links: JGR may contain links to related websites for stock quotes, charts, etc. JGR is not responsible for the content of or the privacy practices of these sites. Release of Liability: By reading JGR, you agree to hold JGR, its associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred.

 

Forward Looking Statements
Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by the use of certain terminology, including “will”, “believes”, “may”, “expects”, “should”, “seeks”, “anticipates”, “has potential to”, or “intends’ or by discussions of strategy, forward looking numbers or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company’s business model; future operations, products and services; the impact of regulatory initiatives on the Company’s operations; the size of and opportunities related to the market for the Company’s products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance. Junior Gold Report does not take responsibility for the accuracy of forward looking statements and advises the reader to perform their own due diligence on forward looking numbers or statements.

 

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NEXUS GOLD INCREASES PHASE ONE DRILLING AT NIANGOUELA AND CLOSES $2 MILLION PRIVATE PLACEMENT

Featured, , , , , , ,

2017-02-23 13:18 ET – News Release

Mr. Peter Berdusco reports

NEXUS GOLD INCREASES PHASE ONE DRILLING AT NIANGOUELA AND CLOSES $2 MILLION PRIVATE PLACEMENT

Nexus Gold Corp. has increased its phase 1 diamond drill program by an additional 1,000 metres at its Niangouela gold project located in Burkina Faso, West Africa.

The company originally planned a 1,000-metre phase 1 diamond drill program on its 178-square-kilometre Niangouela concession. The increased 1,000 metres of diamond drilling is designed to test the primary quartz vein and associated shear zone at depth and along strike. The current program is targeting areas of gold anomalies identified from rock samples and rotary air blast (RAB) drilling that was conducted by the company in December, 2016, and January, 2017.

“Early work is progressing extremely well at Niangouela, we are very pleased with what we are seeing on the ground. Additionally, we are still discovering the size and scope of the primary quartz vein and the shear zone. It’s a large concession with a lot of artisanal activity. We have a lot of ground to cover,” said senior geologist Warren Robb. “Now that we have established a base of operations and have crews up and running we will begin to initiate work at the Bouboulou concession,” continued Mr. Robb. “Our plan is to drill both properties over the coming months with the goal of establishing the extent of mineralization at both sites.”

Bouboulou phase 1 diamond drill program

The current work program at Niangouela has assisted the company in understanding and streamlining its exploration efforts in Burkina Faso. The company has based its operation out of the city of Yako which will also serve as its base for the upcoming diamond drill program on the Bouboulou property located six kilometres south of Yako. The objective of the program is to further define and understand the characteristics of the four mineralized zones on the property — Koala, Rawema, Bouboulou 2 and Pelgtanga. An initial phase consisting of a 2,000-metre diamond drill program is anticipated to begin shortly. More information on the Bouboulou project is available on the company’s website.

$2-million private placement closed

The company is also pleased to announce that it has completed a non-brokered private placement of 16,668,219 units in the capital of the company at a price of 12 cents per unit for gross proceeds of $2,000,186.

Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase one additional share at a price of 18 cents until Feb. 23, 2019.

“The demand for this financing was extremely strong,” commented president and chief executive officer Peter Berdusco. “The participation included over 100 subscribers, the majority of them international, and is a direct testament to the growing interest in our company and properties. These funds allow us to continue to pursue significant assets and execute our work programs in West Africa,” continued Mr. Berdusco.

In connection with completion of the offering, the company has paid $15,536 and issued 528,050 common shares and 393,492 warrants to certain finders who introduced subscribers to the offering. All securities issued pursuant to the offering are subject to a statutory four-month hold period.

About the Niangouela gold concession

The 178-square-kilometre Niangouela gold concession is located on the Boromo greenstone belt (as is the company’s Bouboulou gold concession) 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 approximate-1,000-metre 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. Eight of the 11 samples returned values of one gram per tonne gold or better. Best results of the 11 include sample NG005, taken directly from the primary quartz vein at 46-metre depth (accessed via an artisanal mining shaft), which returned a value of 2,950 g/t gold. Sample NG006 was collected from the artisanal dumps of the sheared intrusive and returned a value of 23.9 g/t gold. Sample NG007 contained coarse visible gold, was taken from material extracted from the eastern shaft from a depth of approximately 60 metres, and returned values of 403 g/t gold. Sample NG008 was taken from the western shaft, 10 to 12 metres west of the eastern shaft, and consisted of a single large piece of primary quartz vein containing host rock inclusions and a cluster of visible gold. NG008 returned values of 49.8 g/t gold.

About the Bouboulou gold concession

The Bouboulou concession covers an area of 38.3 square kilometres and is located approximately 100 kilometres north by northwest of the capital city of Ouagadougou, Burkina Faso. Exploration on the permit area has been conducted by Boliden (1997 to 1999), Riverstone Resources (2005 to 2011) and Roxgold (2011 to 2012). Exploration has consisted of rotary air blast drilling, trenching, geological mapping, airborne electromagnetic, magnetometer and radiometrics, and reverse circulation and diamond drilling.

Highlights of the previous exploration programs include 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. Previous drilling highlights Bouboulou include 40 m of 1.54 g/t Au (including 20 m of 2.55 g/t Au), 35 m of 2.20 g/t Au (including 12 m of 5.45 g/t Au), four m of 12.83 g/t Au and six m of 4.62 g/t Au (including 0.03 m of 81.32 g/t Au). Please see the Nexus Gold Corp. website for a more detailed look at historical drill results at Bouboulou.

The property is situated at the north end of the Boromo greenstone belt underlain by an alternating sedimentary-basalt-sedimentary-volcanic progression which strikes generally northeast-southwest, and is bisected by the Sabce shear zone, which hosts numerous artisanal gold zones over its 120-kilometre length plus the Bissa mine operated by Norgold.

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 fourth-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 the Ivory Coast continue northward into Burkina Faso. Burkina Faso has undergone less than 15 years of modern mineral exploration, remaining underexplored in comparison with neighbouring Ghana and Mali; both of which host world-class gold mines in the same belts of Birimian rocks.

About Nexus Gold Corp.

Nexus Gold 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 square km advanced exploration target where previous drilling has confirmed multiple zones of gold mineralization. The Niangouela gold concession is a 178 square km project featuring high-grade gold occurring in and around a primary quartz vein one km 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.

Disclaimer

© 2010 Junior Gold Report

Junior Gold Report Newsletter: Junior Gold Report’s Newsletter is published as a copyright publication of Junior Gold Report (JGR).  No Guarantee as to Content:  Although JGR attempts to research thoroughly and present information based on sources we believe to be reliable, there are no guarantees as to the accuracy or completeness of the information contained herein. Any statements expressed are subject to change without notice. It may contain errors and you should not make any investment decisions based on what you have read on here. JGR, its associates, authors, and affiliates are not responsible for errors or omissions. Consideration for Services: JGR, it’s editor, affiliates, associates, partners, family members, or contractors may have an interest or position in the featured companies, as well as sponsored companies which compensate JGR. JGR, it’s owner and affiliates/associates may buy/sell and trade the featured companies from time to time. JGR has been paid by the companies. Thus, multiple conflicts of interest exist. Therefore, information provided here within should not be construed as a financial analysis but rather as an advertisement. Conduct your own due diligence: The author’s views and opinions regarding the companies featured in report(s) are his/her own views and are based on information that he/she has researched independently and has received, which the author assumes to be reliable. You should never base any buying/selling/trading decisions off of our emails and newsletter. The ideas and companies featured are highly speculative and you could lose your entire investment – consult a licensed financial advisor if you are considering investing in any of the featured companies. Subscribers/readers are encouraged to conduct their own research and due diligence. The companies mentioned are high risk and considered penny stocks that contain a high risk of volatility, therefore consult your investment advisor and do your own due diligence before purchasing. Never base any investment decision on information contained in our website or emails or any of our publications. No Offer to Sell Securities: JGR is not a registered broker dealer, investment advisor, financial analyst, stock pickers, investment banker or other investment professional. JGR is intended for informational, educational and research purposes only. It is not to be considered as investment advice. No statement or expression of any opinions contained in this report constitutes an offer to buy or sell the shares of the companies mentioned herein. Links: JGR may contain links to related websites for stock quotes, charts, etc. JGR is not responsible for the content of or the privacy practices of these sites. Release of Liability: By reading JGR, you agree to hold JGR, its associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred.

 

Forward Looking Statements
Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by the use of certain terminology, including “will”, “believes”, “may”, “expects”, “should”, “seeks”, “anticipates”, “has potential to”, or “intends’ or by discussions of strategy, forward looking numbers or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company’s business model; future operations, products and services; the impact of regulatory initiatives on the Company’s operations; the size of and opportunities related to the market for the Company’s products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance. Junior Gold Report does not take responsibility for the accuracy of forward looking statements and advises the reader to perform their own due diligence on forward looking numbers or statements.

 

 

Nexus Scores on Gold, Misses on Press Release

Featured, Gold, ,

Full Article: Nexus Scores on Gold, Misses on Press Release

By: Bob Moriarty

I wrote about the incredible coup that Nexus Gold scored in Burkina Faso back in early December. Basically they have picked up two potential home runs in the best country to explore and build a mine in, in the entire continent. Using the skills of the former Chief Geologist for Roxgold, Warren Robb, the company managed to scarf up two good properties for about $1.5 million USD each but the deals are rear end loaded and have a tiny 1% NSR. They have two years to test the crap out of the projects before big bucks are due so the money they raise now goes directly into the ground rather than into the landowner’s pocket today.

One thing I have learned over the last fifteen years and seeing hundreds of projects is that the interests of the landowner and the company doing the deal have to align. In 100% of the cases I’ve seen where a big front-end payment is made, the landowner immediately does everything in his power to queer the deal so he can go flog the property to some other damned fool. In Tanzania I’ve seen one project with a lot of gold in the ground get pimped out to four different groups in five years. The landowner realized he could make a lot more money on front-end payments than from actually producing gold.

Full Article: Nexus Scores on Gold, Misses on Press Release

By: Bob Moriarty

 

Disclaimer© 2010 Junior Gold ReportJunior Gold Report’ Newsletter: Junior Gold Report’s Newsletter is published as a copyright publication of Junior Gold Report (JGR). No Guarantee as to Content: Although JGR attempts to research thoroughly and present information based on sources we believe to be reliable, there are no guarantees as to the accuracy or completeness of the information contained herein. Any statements expressed are subject to change without notice. JGR, its associates, authors, and affiliates are not responsible for errors or omissions. Consideration for Services: JGR, it’s editor, affiliates, associates, partners, family members, or contractors may have an interest or position in featured, written-up companies, as well as sponsored companies which compensate JGR. JGR, it’s owner and affiliates/associates may buy/sell and trade the company’s stock written up/video created on from time to time. JGR has been paid by the company written up. JGR has been paid by the company written up. Thus, multiple conflicts of interests exist. Therefore, information provided herewithin should not be construed as a financial analysis but rather as an advertisement. The author’s views and opinions regarding the companies featured in reports are his own views and are based on information that he has researched independently and has received, which the author assumes to be reliable. No Offer to Sell Securities: JGR is not a registered investment advisor. JGR is intended for informational, educational and research purposes only. It is not to be considered as investment advice. Subscribers are encouraged to conduct their own research and due diligence, and consult with their own independent financial and tax advisors with respect to any investment opportunity. No statement or expression of any opinions contained in this report constitutes an offer to buy or sell the shares of the companies mentioned herein. Links: JGR may contain links to related websites for stock quotes, charts, etc. JGR is not responsible for the content of or the privacy practices of these sites. Release of Liability: By reading JGR, you agree to hold Junior Gold Report its associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred.

Forward Looking Statements
Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by our use of certain terminology, including “will”, “believes”, “may”, “expects”, “should”, “seeks”, “anticipates”, “has potential to”, or “intends’ or by discussions of strategy, forward looking numbers or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company’s business model; future operations, products and services; the impact of regulatory initiatives on the Company’s operations; the size of and opportunities related to the market for the Company’s products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance. Junior Gold Report does not take responsibility for accuracy of forward looking statements and advises the reader to perform own due diligence on forward looking numbers or statements.

NEXUS GOLD TO BEGIN WORK PROGRAM

Company News, Featured, ,

 

 NEWS RELEASE

NEXUS GOLD TO BEGIN WORK PROGRAM
AT NIANGOUELA GOLD CONCESSION, BURKINA FASO, WEST AFRICA

Vancouver, Canada – December 8, 2016 – Nexus Gold Corp. (“Nexus” or the “Company”) (TSX-V: NXS, OTC: NXXGF, FSE: N6E) is pleased to announce it has contracted Forage FTE Drilling to begin a RAB (Rotary Air-Blast) drill program at its recently optioned Niangouela gold concession, Burkina Faso, West Africa.

The 178 square kilometre concession is located on the Boromo Greenstone Belt, same as the Company’s Bouboulou Gold Concession and is proximal to the Kalsaka deposit and the Sabce shear, a major gold bearing feature.  It is road accessible and has one major orpaillage (artisanal workings).  The RAB program will test ground in and around a recently observed quartz vein found on the property.

“The property’s proximity to a major structural gold bearing feature, the thickness of the vein, the fact that the vein orientation is oblique to the Sabce shear and hosted in intrusive rock, means it displays many similarities to the country’s one notable gold-bearing quartz vein deposit,” said Senior Geologist, Warren Robb, P.Geo.  “On that basis, we’re going to begin testing Niangouela immediately.”

To date 556 pits and 11 trenches have been excavated, and rock and soil samples have been taken.  A total of 1,137 samples have been collected.  Previous programs have identified a zone which runs ENE and WSW occurring in the south central part of the concession.  This zone has returned gold in soil samples up to 34 g/t Au, rock samples have returned values up to 18 g/t Au, and trenching has returned values of 4.85 g/t Au over 10 meters.Recent rock samples taken by Nexus returned values from 1.12 g/t Au to 2.49 g/t Au.

Commencement of the proposed work program is subject to completion of the acquisition, as announced on December 6, 2016, and the approval of the TSX Venture Exchange.

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 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.

 

Disclaimer© 2010 Junior Gold ReportJunior Gold Report’ Newsletter: Junior Gold Report’s Newsletter is published as a copyright publication of Junior Gold Report (JGR). No Guarantee as to Content: Although JGR attempts to research thoroughly and present information based on sources we believe to be reliable, there are no guarantees as to the accuracy or completeness of the information contained herein. Any statements expressed are subject to change without notice. JGR, its associates, authors, and affiliates are not responsible for errors or omissions. Consideration for Services: JGR, it’s editor, affiliates, associates, partners, family members, or contractors may have an interest or position in featured, written-up companies, as well as sponsored companies which compensate JGR. JGR, it’s owner and affiliates/associates may buy/sell and trade the company’s stock written up/video created on from time to time. JGR has been paid by the company written up. JGR has been paid by the company written up. Thus, multiple conflicts of interests exist. Therefore, information provided herewithin should not be construed as a financial analysis but rather as an advertisement. The author’s views and opinions regarding the companies featured in reports are his own views and are based on information that he has researched independently and has received, which the author assumes to be reliable. No Offer to Sell Securities: JGR is not a registered investment advisor. JGR is intended for informational, educational and research purposes only. It is not to be considered as investment advice. Subscribers are encouraged to conduct their own research and due diligence, and consult with their own independent financial and tax advisors with respect to any investment opportunity. No statement or expression of any opinions contained in this report constitutes an offer to buy or sell the shares of the companies mentioned herein. Links: JGR may contain links to related websites for stock quotes, charts, etc. JGR is not responsible for the content of or the privacy practices of these sites. Release of Liability: By reading JGR, you agree to hold Junior Gold Report its associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred.

Forward Looking Statements
Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by our use of certain terminology, including “will”, “believes”, “may”, “expects”, “should”, “seeks”, “anticipates”, “has potential to”, or “intends’ or by discussions of strategy, forward looking numbers or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company’s business model; future operations, products and services; the impact of regulatory initiatives on the Company’s operations; the size of and opportunities related to the market for the Company’s products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance. Junior Gold Report does not take responsibility for accuracy of forward looking statements and advises the reader to perform own due diligence on forward looking numbers or statements.