Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Discover One of the ONLY Juniors Exploring Gold in Newfoundland

Jocelyn Aspa Jocelyn Aspa, The Market Herald
1 Comment| June 17, 2021

{{labelSign}}  Favorites
{{errorMessage}}

Canadian gold production is most prolific in provinces such as Ontario, Quebec and British Columbia, which helps put the country fifth on the global map in terms of overall production, but other regions within Canada are gaining traction for gold exploration.

Newfoundland, for example, is generating lots of attention in the gold sector thanks to its rich and extensive history of mining — which goes as far back as the 1770s — and wide range of minerals the province hosts.

Minerals within the Atlantic province include iron ore, base and precious metals, uranium, tungsten, molybdenum, antimony, and rare earth and industrial minerals.

When it comes to gold, the precious metal was more or less non-existent in Newfoundland until the 1980s, but that landscape is changing. Gold in the province has been mined from epithermal and orogenic deposits and as a by-product in a range of volcanogenic massive sulphide (VMS) operations.

Orogenic and VMS production continues, while several projects have begun targeting similar deposit styles.

Nexus Gold Corp. (TSXV:NXS,OTCQB:NXXGF, Forum), for example, is looking to join these ranks through its exploration program in Newfoundland.

Exploration begins at Gummy Bear gold-copper project

Nexus Gold announced earlier this month exploration is now officially underway at its Gummy Bear Gold-copper Project in Newfoundland.

Spanning 2,525 hectares, the project is located near Halls Bay in the north-central region of the province. Initial sampling will collect roughly 750 soils, which will involve 50 metre-spaced sample stations on 100 metre-spaced grid lines.

According to the company, this gride line will act as the baseline for providing initial broad coverage and assessment of gold and base metal potential at the Gummy Bear project. Additionally, the orientation of the sample lines is intended to crosscut a range of EM conductors interpreted from previous airborne geophysical surveys and a region of poorly exposed sedimentary rocks by gold-bearing quartz veins.

Sediments at Gummy Bear are also along strike from similar Ordovician-Silurian sediments located next to the Buchans-Roberts Arm volcanic belt 48 kilometers to the south. Here, structurally controlled auriferous quartz veins at the Golden Promise project contain roughly 119,000 ounces inferred at 10.4 g/t gold.

The Gummy Bear Gold-copper Project sits near the Handcamp base metal-gold prospect, which was first discovered in 1928, and lies 2.5 kilometers southwest of Gummy Bear. This prospect contains pyrite, chalcopyrite, sphalerite and galena and also has historical precious metal values of up to 74 g/t gold and 587 g/t silver.

As exploration of the project progresses, the company said it will update on the results accordingly.


(Click to enlarge image)

Advancing its flagship project

While Nexus Gold is in the beginning stages in Newfoundland, the company’s management team has significant first-hand experience, with a proven track record, of exploration, discovery, and development — all the way from preliminary economic assessment to the mining stage.

In tandem with this, this has led Nexus Gold to advance its flagship project, the McKenzie Gold Project, which is in one of the world’s most productive and high-profile gold mining locations in Red Lake, Ontario.

McKenzie is a 1,398.5 hectare exploration project and, most recently, the company announced results from its Phase 2 drilling program where it drilled 136m of 1.25 g/t gold, including 44.6m of 3.00 g/t gold, 15.5m of 5.25 g/t gold.. Follow up results include 24.7 metres of 4.05 g/t gold, including 14m of 7.01 g/t Au, and 8 metres of 12.14 g/t gold, in addition to 56 metres of 1.01 g/t gold, including 21.5m of 1.84 g/t gold and 10m of 3.30 g/t gold.

“This latest hole helps confirm we have discovered a significant zone of interest that trends to the northwest in the St. Paul’s Bay region of the property,” Alex Klenman, president and CEO of Nexus Gold, said in a release. “We are beginning to get a handle on the mechanics of it, and once all the results are received, we’ll review the data and determine where the next round of drilling will occur.”

An investment opportunity in an exploration-stage project

Investors have a unique opportunity to invest in a gold exploration program in Newfoundland that’s in its early stages thanks to Nexus Gold.

The company is also backed by its other properties in hot gold jurisdictions in Canada such as Ontario and BC — with six 100 per cent owned projects — as well as projects in West Africa. In other words, while Nexus Gold’s footprint in Newfoundland is only in the beginning stages, the company is on the right track to becoming a top-tier gold explorer.

FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.



{{labelSign}}  Favorites
{{errorMessage}}

Comments

Thank you! And what's up with Newfoyndland now. Any results soon?
(17)
January 19, 2022

Leave a Comment

You must be logged in to be able to post a comment.

Get the latest news and updates from Stockhouse on social media

Follow STOCKHOUSE Today