RE:RE:Talk of visible gold..Wonnetr wrote: going to drop like bre-ex.
lol we're @ .205 haha bre-x. Here's the news clarification..............
Clarification of News Release dated June 28, 2018, "Maiden Trenching Confirms Potential Sources of Gold Nuggets at Mt Roe."
Canada NewsWire
VANCOUVER, June 29, 2018
VANCOUVER, June 29, 2018 /CNW/ - NxGold Ltd. ("NxGold" or the "Company"), (TSX-V: NXN) announces that, as a result of a review by the Investment Industry Regulatory Organization of Canada ("IIROC"), the Company wishes to clarify its latest news release dated June 28, 2018.
The Company has made numerous references to gold nuggets and or visible gold in the news release without providing a grade of the mineralized zone(s) or the method of sampling. IIROC considers this to be vague, overly promotional and misleading disclosure. A clarification on how a "potential source" can be "confirmed" was also requested.
NxGold clarifies that it has identified the presence of the inferred or potential 'conglomerate gold' host sedimentary sequence proximal to an accumulation of 'melon seed' shaped gold nuggets.
NxGold clarifies that it has identified a quartz vein structure bearing visible gold as a potential source for gold recovered in an area known for abundant historical metal detector diggings. The observed visible gold in a vein structure is not representative of the whole vein exposure in the trench. As mentioned in the June 28, 2018 news release sampling has been undertaken on the trench and will be reported as the results become available and are reviewed.
NxGold advises that the Mt Roe Gold project is an early stage exploration project utilising an evolving gold deposit model for a paleo-placer style of mineralisation. Abundant exploration work is required to understand the previously unrecognised sedimentary geology and confirm if the source(s) of the coarse gold is located within NxGold Ltd.'s tenements. There is no certainty of the discovery nor definition of a mineral resource.
NxGold clarifies that the use of metal detecting is a binary indicator, presence or absence, of detrital gold being shed from potential host lithologies. The presence, or absence, of gold nuggets does not indicate with any certainty the presence of a mineralised zone. The method involves walking topographical features such as hilltops, drainages and gullies that cross lithological contacts and units of interest seeking a response from a metal object. A response from the detector is indication of a metallic object being present which can vary from bullet casings and pull tabs to gold nuggets. Finding these gold nuggets, in a strict sense, are selective in nature and are not representative of the property as a whole; not every signal is the result of a gold nugget and much of the area covered by detectorists provided no indication of the presence of metallic objects. Figure 1 included in the initial release shows areas where gold has been found by detectorists, a very limited section of the property.
NxGold clarifies that metal detecting on the property is undertaken by qualified individuals, nugget locations are captured with a handheld GPS unit, general size and morphology are also recorded, photos and weights are also captured. Areas covered are tracked through the handheld GPS unit. Any trash recovered is properly disposed of. Gold nugget samples are not sent for analysis.
NxGold confirms chip samples and grabs samples have been collected from the initial trenching program, the results of which will be reported along with the sample type, methodology, QA/QC protocol followed, and laboratory and analysis methods used once the results have been received and reviewed.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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