New is Out. SP should Double :) Nexus Gold Begins Phase Two Drilling At Niangouela Gold Concession, Burkina Faso, West Africa
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Nexus Gold Begins Phase Two Drilling At Niangouela Gold Concession, Burkina Faso, West Africa
April 05, 2017 -- (Nexus Gold Corp.) --
(TheNewswire)Vancouver, Canada / TheNewswire / April 5, 2017 - Nexus Gold Corp. ("Nexus" or the "Company") (TSX-V: NXS, OTC: NXXGF, FSE: N6E) is pleased to announce the completion of its phase one diamond drill program at the 178-square kilometer Niangouela exploration permit located approximately 85 kilometers north of Ouagadougou, Burkina Faso. A 2000m phase two program is now underway to test down the dip and strike extensions of gold mineralization identified by the company in its phase one 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, including hole NGL-17-DD-008 which saw an increase from 8.50 g/t gold over .62 metre, to 11.7 g/t gold over .62 metre, and from 120 g/t gold over 1 metre, to 132 g/t gold over 1 metre. In addition, hole NGL-17-DD-009 increased from 2.61 g/t gold over 4 metres to 2.95 g/t gold over 4 metres. This hole also gained an additional 1 metre of 5.00 g/t 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.
Theupdated assay results from the phase one program to date are tabled below: Hole IDAzimuthDipFROM (m)TO (m)INTERCEPT (metres)Au gram/tonneNGL-17-DD-00110-5076.0087.0011.000.37?includes83.0084.001.001.21NGL-17-DD-002190-6084.5085.502.001.05104.50105.501.001.32NGL-17-DD-003185-5086.4091.505.101.80includes86.4087.501.106.14NGL-17-DD-004185-60121.00124.003.000.96?includes122.00123.001.001.47?NGL-17-DD-005185-70No significant resultsNGL-17-DD-006180-5065.0071.206.204.00includes70.2071.201.0020.50?NGL-17-DD-007180-60102.00109.207.201.01includes104.00105.001.002.34and106.20107.201.001.92NGL-17-DD-008180-5057.0061.854.8526.69includes58.3558.970.6211.7?and58.9760.001.03132.00?NGL-17-DD-009180-6074.5078.504.002.95?includes74.5075.501.005.00?and76.5077.501.005.92?
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 ppm gold the sample was re-analysed by gravimetric fire assay. Samples with identified visible gold were analysed using a fire assay metallic screen analysis. The Company employs a QA/QC 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 sq km 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 802m rotary air blast (RAB) drill program that delineated an approximately 1,000-metre (1km) 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 46m depth returned a value of 2,950 g/t gold. Sample NG007 contained coarse visible gold, and was taken from material extracted from a depth of approximately 60m, returned a value of 403 g/t 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 g/t 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 g/t gold over 4.85m (including 1m of 132 g/t gold), and 4.00 g/t gold over 6.2m (including 1m of 20 g/t gold). All mineralization in these first nine holes was present at depths of 57m to 124m below surface.
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
604-558-1920www.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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April 05, 2017 09:31 ET (13:31 GMT)