Nexus Gold Confirms Lower Plate at Walker Ridge Gold Project
Vancouver, Canada / TheNewswire / September 10, 2015 - Nexus Gold Corp. ("Nexus" or the "Company") (TSX-V: NXS) is pleased to report that diamond drilling has passed through the upper plate rocks and is now intersecting prospective lithologies in the lower plate rocks at the Company's Walker Ridge Gold Project in the Jerritt Canyon-Independence Trend, Nevada, USA.
Drill hole DDH-WR2015-01 drilled through 1,800.3' (548.7m) of argillites and quartzites of the Snow Canyon Formation before crossing the thrust fault and entering the silty limestones and calcareous siltstones of the lower plate.
Walker Ridge's target is Carlin-type mineralization and the lower plate rocks are primary hosts of Carlin-type gold deposits in Nevada. Also noted in the lower plate at Walker Ridge is the abundant presence of the mineral pyrite. Pyrite is also associated with Carlin-type mineralization in Nevada.
"It is yet to be determined if the rocks below the thrust fault are the Roberts Mountain or Hansen Creek Formation", states Dr. Douglas Oliver, Vice President of Exploration. "However, both formations host economic gold mineralization at the Jerritt Canyon Mine, our neighbour to the south." Dr. Oliver continues, "Now that the hole has reached the targeted host rocks, we expect to be in them for the next several hundred feet as drilling continues."
The drill core will be processed by Company personnel in Elko, Nevada, before being delivered to ALS Minerals for assaying. QA/QC protocols including blanks, standards and duplicate samples have been established and will be followed.
Walker Ridge Gold Project
The Walker Ridge Gold Project is located directly between and adjacent to both the Jerritt Canyon mine & mill complex, and the Big Springs deposit. A 3200 x 3200 meter (2 sq. miles) bull's-eye of highly-anomalous, geochemically defined pathfinder elements (antimony, arsenic, mercury) exists within the claim block, coincident to geophysical anomalies both in gravity and resistivity. A Carlin-age (Eocene) intrusion, as verified through uranium-lead radiometric age dating (35.9m years) has been discovered on the property at the center of the geochemical/geophysical anomalies.
Innovative Technology
In the fall of 2014, the Company employed Vital GeoSURVEYS Ltd to perform a geophysical survey utilizing a leading-edge element detection technology. Prior to the survey on Walker Ridge, the technology had been used primarily in the oil and gas sector for the past five years, accumulating a track record of success. The proprietary nature of the innovative technology allows for the in situ detection and the mapping of signals specific to the targeted element. In the case of Walker Ridge, the targeted element is gold (Au). In application, the technology deploys energy and if the target element is present a signature response is detected. The strength of these signature responses is measured and catalogued as "Points of Interest".
The fall 2014 survey identified 38 Points of Interest occurring in eight clusters over approximately a two-square mile area within the Company's claim block. Seven of these clusters are coincidental to data sets identified through the Company's previous work programs on the property: anomalous mercury and antimony geochemical levels, a prominent gravity geophysical low coincident to the surface mercury anomaly, and an electromagnetic/magnetotelluric resistivity low/high. The results of the survey, particularly when applied to the existing data sets, potentially reduces the risks and costs normally associated exploration drilling programs.
About the Company
Nexus Gold Corp. is a Vancouver-based mineral exploration company that develops precious metal mineral assets in the world's premier mining and exploration districts. The company is currently concentrating its exploration efforts on the Walker Ridge Gold Project, a drill-ready, multiple-target, Carlin-type gold exploration project located in the Independence/Jerritt Canyon Gold Trend, Nevada, USA. For more information on the Walker Ridge Gold Project, including specific survey results, 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 under NI 43-101.
On behalf of the Board of Directors of
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.
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