Nexus Gold Corp. Begins Follow Up Diamond Drill Program at the Dakouli 2 Gold Concession
Vancouver, May 11, 2021 - Nexus Gold Corp. ("Nexus" or the "Company") (TSXV:NXS) (OTC:NXXGF) (FSE:N6E) is pleased to announce it has mobilized its geological team and diamond drill crews and equipment to its 100% owned Dakouli 2 Gold Concession, located in Burkina Faso, West Africa. The planned 2000 meter diamond drill program (approximately 12-15 holes) is designed to expand on gold mineralization recently identified in the Reverse Circulation ("RC") drill program completed at the 98-sq km property in December 2020. Drilling is expected to commence in the next 24 hours.
The RC drilling targeted a zone measuring approximately 450 meters in strike length to depths of 100 meters in the Northeast corner of the project ground (significant results presented in the following table). Diamond drilling will be used to test and expand this area and enhance the geological understanding of the mineralization encountered there as well as supplement the knowledge of the geological and structural elements and controls. In addition to confirmation drilling the Company intends to test the strike extension of this new zone by testing coincidental soil, termite mound geochemistry and geophysics which shows a trend extending for some 1100 meters west of the RC drilling location.
"Diamond drilling will greatly enhance our geological and structural understanding of the mineralization at Dakouli," said Warren Robb, Senior VP Exploration. "Given that we have already observed coarse visible gold from several grab samples we have recovered there, we are eager to see how this relates to the broader gold intercepts we encountered in the RC drilling," continued Mr. Robb.
"The goal is to define the extent of the east-west strike, along the trend where discovery was made," said president & CEO, Alex Klenman. "There is a lot of ground to explore. We know that the mineralization trends west and, in several areas, dips to the southwest, over what appear to be substantial distances. Each round of drilling we complete will help us establish the size and scope of the overall mineralized footprint outlined by the soil work," continued Mr. Klenman.
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|Hole ID |UTM E |UTM N |DIP|AZIMUTH|ELEV|FROM|TO |LENGTH |Au
|
| | | | | | | | |(meters)|G/T
|
|---------------------------------------------------------------------|
|DKL-20-RC-001|625256|1441633|-55|350 |299 |40 |52 |12 |0.35
|
|---------------------------------------------------------------------|
|DKL-20-RC-002|625218|1441603|-55|350 |281 |42 |58 |16 |0.64
|
|---------------------------------------------------------------------|
|DKL-20-RC-006|637023|1445782|-45|360 |286 |82 |118|36 |0.33
|
|---------------------------------------------------------------------|
|Includes | | | | | |100 |118|18
|0.59 |
|---------------------------------------------------------------------|
|Includes | | | | | |108 |110|2
|1.78 |
|---------------------------------------------------------------------|
| | | | | | |116 |118|2
|1.52 |
|---------------------------------------------------------------------|
|DKL-20-RC-007|636974|1445768|-60|350 |298 |108 |138|20 |4.83
|
|---------------------------------------------------------------------|
|Includes | | | | | |118 |124|6
|14.51|
|---------------------------------------------------------------------|
|Includes | | | | | |120 |122|2
|39.60|
|---------------------------------------------------------------------|
|DKL-20-RC-008|636908|1445758|-45|360 |288 |108 |116|8 |0.72
|
|---------------------------------------------------------------------|
|Includes | | | | | |108 |110|2
|1.13 |
|---------------------------------------------------------------------|
|DKL-20-RC-009|636851|1445785|-45|360 |288 |50 |60 |10 |1.61
|
|---------------------------------------------------------------------|
|Includes | | | | | |52 |54 |2
|4.11 |
|---------------------------------------------------------------------|
| | | | | | |120 |126|6
|0.31 |
|---------------------------------------------------------------------|
| | | | | | |140 |150|10
|0.47 |
|---------------------------------------------------------------------|
|DKL-20-RC-010|636806|1445782|-45|360 |294 |64 |66 |2 |1.46
|
|---------------------------------------------------------------------|
| | | | | | |74 |82 |8
|1.89 |
|---------------------------------------------------------------------|
|Includes | | | | | |76 |78 |2
|6.54 |
|---------------------------------------------------------------------|
|DKL-20-RC-011|636793|1445682|-45|360 |286 |78 |88 |10 |0.35
|
|---------------------------------------------------------------------|
|DKL-20-RC-012|636793|1445682|-50|360 |285 |150 |154|4 |0.70
|
|---------------------------------------------------------------------|
|DKL-20-RC-016|636997|1445698|-55|360 |293 |4 |12 |8 |1.13
|
|---------------------------------------------------------------------|
|Includes | | | | | |10 |12 |2
|3.99 |
|---------------------------------------------------------------------|
|DKL-20-RC-017|637099|1445774|-50|360 |310 |88 |140|52 |0.30
|
|---------------------------------------------------------------------|
|Includes | | | | | |88 |130|42
|0.34 |
|---------------------------------------------------------------------|
|Includes | | | | | |102 |120|18
|0.59 |
|---------------------------------------------------------------------|
|Includes | | | | | |102 |112|10
|0.91 |
|---------------------------------------------------------------------|
|Includes | | | | | |102 |106|4
|2.08 |
|---------------------------------------------------------------------|
|DKL-20-RC-18 |636688|1445765|-50|360 |294 |76 |82 |6 |1.35
|
|---------------------------------------------------------------------|
|Includes | | | | | |78 |80 |2
|3.36 |
|---------------------------------------------------------------------|
|And | | | | | |88 |118|30
|0.27 |
|---------------------------------------------------------------------|
|Includes | | | | | |88 |96 |8
|0.53 |
|---------------------------------------------------------------------|
|Includes | | | | | |92 |94 |2
|1.43 |
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Table 1: Significant drill intercepts, Dec 2020, Dakouli 2 Gold Concession, Burkina Faso, West Africa
The Dakouli 2 permit is located on the Goren greenstone belt, proximal to Nordgold's Bissa Mine and Gougre satellite pit, and is bisected by the gold bearing Sabce Shear zone. Updates will be provided as drilling progresses.
Drilling to Date at Dakouli
The maiden RC program, conducted in late 2020, consisted of 2,914 meters of exploratory drilling. The program was designed to test several areas that have returned either high gold values from rock samples or coincidental soil geochemical and geophysical anomalies proximal to artisanal workings ("orpaillages"). Drilling has so far primarily been confined to an approximately 450m x 200m section in the upper northeastern portion of the concession ground.
Significant results were encountered in hole DKL-20-RC-007, which returned 4.83 grams-per-tonne ("g/t") gold ("Au") over 20 meters, including 14.51 g/t Au over 6m (also including 39.6 g/t over 2m). Other significant results were realized in hole DKL-20-RC-009, which returned 1.61 g/t Au over 10 meters, including 4.11 g/t Au over 2 meters, and DKL-20-RC-010, which returned 1.89 g/t Au over 8 meters, including 6.54 g/t Au over 2 meters. In addition, several holes returned lengthy intercepts of sub-one gram gold, including DKL-20-RC-006 which returned .33 g/t Au over 36 meters, including .59 g/t Au over 18 meters, DKL-20-RC-002 which returned .64 g/t Au over 16 meters, and DKL-20-RC-017 .59 g/t Au over 18 meters, including .91 g/t Au over 10 meters.
Click Image To View Full Size
Figure 1: Dakouli 2 Gold Concession, current areas of interest (blue arrows), Burkina Faso, West Africa
About the Dakouli 2 Gold Concession
The Dakouli 2 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 contained various concentrations of visible gold, including coarse nuggety samples. Of the 40 samples collected from depths of 5 meters down to 50 meters below surface, 20 returned assay values greater than 1 g/t Au. Multiple samples showed various concentrations of visible gold that returned assay values between 4.93 g/t Au and 98.9 g/t Au (see Company news releases dated January 8, 15, June 11, 2019, June 23, and September 20, 2020).
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 2 property. This survey identified three prominent gold geochemical trends.
The primary gold trend parallels the Sabce fault zone and 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.
*Grab samples are selective by nature and may not represent the true grade or style of mineralization across the property
Warren Robb P.Geo., Vice President, Exploration, is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for, and has approved, the technical information contained in this release.
About the Company
Nexus Gold is a Canadian-based gold exploration and development company with an extensive portfolio of projects in Canada and West Africa. The Company's West African-based portfolio totals over 550-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 its flagship assets while seeking joint-venture, earn-in, and strategic partnerships for other projects in its portfolio.
For more information, please visit nxs.gold
On behalf of the Board of Directors of
Alex Klenman
President & CEO
604-558-1920
info@nexusgoldcorp.com
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.
