SI
SI
discoversearch

Microcap & Penny Stocks : The Microcap Kitchen: Stocks 5¢ to $5

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: DJK15/3/2017 9:57:42 AM
   of 119163
 

Five Additional Quartz Vein-Shear Zones Identified at Niangouela Gold Concession, Burkina Faso, West Africa
(via TheNewswire)



Vancouver, Canada / TheNewswire / May 3, 2017 - Nexus Gold Corp. ("Nexus" or the "Company") (TSX-V: NXS, OTC: NXXGF, FSE: N6E) is pleased to provide an update on the Company's ongoing exploration activity in Burkina Faso, West Africa.

Additional Zones and Targets Identified at Niangouela

Company geologists are pleased to report that in addition to the main quartz vein-shear system tested to date, an additional five zones of veining and shearing have now been identified at the Niangouela gold concession.

These additional structures were originally observed in artisanal workings and are currently being tested by trenching and drilling. Initial sampling of the dumps from two of the new zones have returned values of 2.25 grams per tonne ("g/t") gold ("Au"), and 1.88 and 1.86 g/t Au, respectively.

The zones occur over approximately 2000 metres (2km) in an east-west direction and are spread over 500 metres in a north-south direction. These additional targets are located approximately 200 metres north and 1000 metres east of the main zone which has been the focus of the drilling to date. The company has been testing these zones over its phase two program and anticipates continued testing of these new zones in further phases.

An area map designed to illustrate the identified zones now known at Niangouela is currently being created and will be made available on the company website when completed.

Niangouela Gold Concession Update

The Company anticipates concluding its phase two diamond drill program at the 178-square kilometre Niangouela exploration permit located approximately 85 kilometres north of Ouagadougou, Burkina Faso, in early May. A 2000m phase two program has been underway since early April to test down the dip and strike extensions of gold mineralization identified by the company in its initial phase one program. The program is also testing additional targets identified through surface mapping and prospecting. Results from this program will be released once received, reviewed and verified.

Highlights from the first nine phase-one drill holes at Niangouela, as reported in Company news releases March 7, 2017, and April 5, 2017, include 6.2m of 4.00 g/t Au (including 1m of 20.50 g/t Au); 4.85m of 26.69 g/t Au (including .62m of 11.70 g/t Au, and 1.03m of 132 g/t Au); and 4m of 2.95 g/t Au (including 1m of 5 g/t Au) and 1m of 5.92 g/t Au*. Phase one drill results to date can be found on the company website here:

nexusgoldcorp.com

* Note assay results represent intercept lengths and are not true widths

Bouboulou Gold Concession

The Company is pleased to announce plans to undertake a previously announced diamond drill program at its 38.8-sq km Bouboulou gold concession, in June. Bouboulou is located approximately 75 kilometres north-west of the capital Ouagadougou, on the Boromo-Goren greenstone belt, and is bisected by the Sabce shear zone.

"With the onset of the rainy season the Company's technical team has recommended we move operations to the Bouboulou concession during this time," said President and CEO, Peter Berdusco. "The heavy rainfall is less problematic from an operational standpoint at Bouboulou and this gives us an opportunity to continue our drilling in Burkina Faso, and in particular, on one of the three major gold-mineralized trends we've identified on the property," continued Mr. Berdusco.

Four zones of gold mineralization have been previously identified on the property, termed Koala, Rawema, Bouboulou 2 and Pelgtanga. In 2011 and 2012 Roxgold Inc completed reverse circulation (RC) and diamond drilling (DD) pograms to test these four mineralized zones.

Historical drilling highlights from each of the four zones can be found on the Company website here:

nexusgoldcorp.com

The Company has subsequently identified three distinct 5000m (5km) long anomalous gold trends at the Bouboulou concession. Each of the three trends display strong coincidental geochemical and geophysical gold anomalies, and extend from the four drill-identified mineralized zones, namely Rawema, Pelgtanga, Bouboulou 2 and Koala. They are identified by numerous orpaillages and geochemical samples of greater than 1 g/t Au. All three of the Bouboulou trends identified are defined by similar coincidental anomalies. Each trend has substantial artisanal workings either directly on them, or along the trend.

A map of the three trends can be seen here: http://www.nexusgoldcorp.com/images/NexusGold_Boub1.jpg

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 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-sq km advanced exploration target where previous drilling has confirmed multiple zones of gold mineralization. The Niangouela gold concession is a 178-sq km project featuring high grade gold occurring in and around a primary quartz vein 1km in length and associated shear zone. 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


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.

Copyright (c) 2017 TheNewswire - All rights reserved.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

Copyright © 1995-2017 Knight Sac Media. All rights reserved.Stock quotes are delayed at least 15 minutes - See Terms of Use.