Nexus Gold Extends Strike Length at Dakouli II Gold Concession, Burkina Faso, West Africa

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

(TheNewswire)



  • - Samples up to 10.8 g/t Au recovered from newly defined area

  

Vancouver, Canada – TheNewswire - June 23, 2020 - Nexus Gold Corp. (“Nexus” or the “Company”) (TSXV:NXS) (OTC:NXXGF) (FSE:N6E) is pleased to provide an update from it’s ongoing exploration efforts at the 100%-owned Dakouli II Gold Concession, located in Burkina Faso, West Africa.  

Company geologists have been reviewing the Dakouli concession for potential drill set ups, and during recent site visits noted an increase in artisanal mining activity along strike at the main mineralized zone.  The crew collected three rock samples from new areas being exploited artisanal miners (“orpailleurs”).   A result of 10.8 grams-per-tonne (“g/t”) gold (“Au”) was returned from sample DK-27.  This sample consisted of crushed mined material which had undergone preliminary gold extraction by panning.  The remaining two samples were taken from workings proximal to the location of the orpailleurs extraction operations and returned 0.02 g/t au and 1.6 g/t Au respectively.

The Company is encouraged by the increased strike activity which now extends the limits of the eastern zone some 200 meters to the east, thus expanding the zone of mineralization to over 400 meters along an east-west trend while also measuring over 200 meters in a north-south direction.  As the Company prepares for an upcoming drill program it will continually monitor the increased artisanal activities along this mineralized trend.

“Dakouli remains a priority for Nexus, and one we intend to drill as soon as possible,” said president & CEO, Alex Klenman.  “We had planned to conduct a maiden drill program there late last year before in-country delays surfaced and then the global pandemic hit in Q1 this year.  We’d like to get a drill program done once the rainy season ends later in the summer.  The mineralization is widespread and continues to produce double digit samples.  We feel the upside here is clearly evident, and a compelling case for multiple drill programs has already been established,” continued Mr. Klenman.

Sample Results

---------------------------------------------------------------- |Sample |Comment |Au | |ID | |g/t | |--------------------------------------------------------------| |DKL-0027|Crashed material from orpailleurs, very fine, |10.8 | | |gold was extracted for a first round, about 40m| | | |depth | | |--------------------------------------------------------------| |DKL-0028|Quartz from orpaillage pit, clogged |0.023| |--------------------------------------------------------------| |DKL-0029|Quartz from orpaillage pit, about 20m depth |1.6 | ----------------------------------------------------------------  

About the Dakouli II Gold Concession

The Dakouli II exploration permit is a 98-sq km (9,800 hectares) gold exploration property located approximately 100 kilometers due north of the capital city Ouagadougou.

In late 2018 Company geologists conducted a comprehensive ground reconnaissance program to the west and south of the main orpaillage (artisanal zone) and identified new near surface workings being exploited by artisanal miners.  Rock samples collected from these new zones returned contained various concentrations of visible gold, including coarse nuggety samples.  

A total of 12 samples were taken from the Northeast Zone, obtained between 8-18 meters below surface from artisanal shafts and pits, with six returning significant grades between 2.90 g/t Au and 29.5 g/t Au, including 27.5 g/t Au and 12.4 g/t Au from samples containing visible gold (see Figure 1, and Company news release dated January 8, 2019).

 


Click Image To View Full Size

 

Figure 1: Example of visible nuggety gold in quartz recovered at the Dakouli II concession

Follow up work outlined an anomalous zone extending some 500 meters west from the sample zones. Based on those results the Company initiated a 150-line kilometer soil geochemical survey covering the northern half of the Dakouli II property and southern portions of the contiguous Niangouela property.  This survey identified three prominent gold geochemical trends. The primary gold trend parallels the Sabce fault zone extends for approximately 10 kilometers, in a northeast - southwest direction and bisects the property from the north east corner of the property to its western boundary.  The Sabce fault hosts multiple deposits including Nordgold’s 3.4M oz Bissa Mine, located approximately 25km east of the Dakouli ground.

Two secondary gold trends which extend for approximately 6.5 kilometers each are oriented in a northwest to southeast direction and bisect the primary trend. All three gold geochemical trends are coincidental to geophysical trends identified from the national regional airborne geophysics.  The geochemical surveys and sampling work done to date have generated multiple compelling targets the Company intends to begin testing in this initial drill program.

The Dakouli permit lies immediately south of, and contiguous to, the Company’s Niangouela Gold Concession, which has been explored over the past three years.  Drilling at Niangouela has returned significant intercepts, including 26.69 g/t Au over 4.85m, including 132 g/t Au over 1m, and 4 g/t Au over 6m, including 20.5 g/t Au over 1m (see Company news releases dated March 7, 2017 and April 5, 2017).


Click Image To View Full Size

 

Figure 2: Nexus Gold projects in Burkina Faso, in relation to well known deposits and producing mines


Click Image To View Full Size

 

Figure 3: Dakouli 2 concession with artisanal zones, and bisecting Sabce faults in red

About the Company

Nexus Gold is a Canadian-based gold exploration and development company with an extensive portfolio of eleven projects in Canada and West Africa. The Company’s West African-based portfolio totals five projects encompassing over 750-sq kms of land located on active gold belts and proven mineralized trends, while it’s 100%-owned Canadian projects include the McKenzie Gold Project in Red Lake, Ontario, the New Pilot Project, located in British Columbia's historic Bridge River Mining Camp, and four prospective gold and gold-copper projects (3,700-ha) in the Province of Newfoundland. The Company is focusing on the development of several core assets while seeking joint-venture, earn-in, and strategic partnerships for other projects in its growing portfolio.

For more information please visit nexus.gold

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Alex Klenman

President & CEO

604-558-1920

[email protected]
www.nexusgoldcorp.com

Neither the 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) 2020 TheNewswire - All rights reserved.