Nexus Gold Corp Receives Recommendation from Fundamental Research - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - November 3, 2017) - Today's buy recommendation comes from Fundamental Research Corp. Analyst Sid Rajeev considers Nexus Gold Corp (TSXV: NXS) (FSE: F6E) (OTC Pink: NXXGF)a good speculative investment opportunity. The shares were trading at $0.065 on October 20th, the day the report was issued.
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Nexus Gold is advancing a portfolio of three gold exploration projects in Burkina Faso, Africa, one of the fastest growing gold producers in Africa. Over the past 15 years, Burkina Faso has dramatically increased in popularity with exploration and mining companies, and has recently seen the opening of several new gold mines.
Nexus' projects are in the Boromo greenstone belt, approximately 120 kilometres in length, which is part of the prolific Birimian greenstone belt that stretches throughout Burkina Faso and neighboring countries. The Birimian greenstone belts of western Africa are widely regarded as the most prominent component for significant gold mineralization in the region.
Nexus completed a 2,596 metre diamond drill program in July on the 38 square kilometre Bouboulou property. An initial sampling program conducted earlier in the year was promising, with seven of the 14 samples returning grades of over 1 gram per tonne gold. The best two samples returned grades of 66.1 grams per tonne and 29 grams per tonne gold
Nexus' Geologist, Warren Robb, was the Chief Geologist of Roxgold during 2011 and 2012, when Roxgold drilled the Bouboulou property.
A Phase 1, 2,000 metre drill program on the Niangouela gold concession was successful, with eight of the nine holes returning gold intercepts, including visible gold in three holes. The best hole returned 26.7 grams per tonne over 4.9 metres, including 132 grams per tonne over 1.03 metres, just 57 metres below surface. Subsequently, Nexus completed a Phase 2, 2,572 metre drilling program and 384 metres of trenching in May 2017. This program identified five new zones of veining, and shearing, covering approximately 2 km (east-west) and 500 m (north-south).
The Rakounga gold concession, covering 250 sq. kilometres, borders the Bouboulou property on the west and south. Initial sampling conducted in July showed values up to 17.3 grams per tonne gold. The company has started a drill program on this property.
Management continues to evaluate other prospects in Burkina Faso for acquisition.
Analyst Sid Rajeev stated: "We believe Burkina Faso's attractive features and promising results from the Bouboulou and Niangouela properties make the company's shares a good speculative investment opportunity. Considering the early stage nature of its projects, we are not assigning a rating or fair value at this time."
The shares are trading at $0.065, and with 133 million shares outstanding, the company is capitalized at $8.6 million.
For more information please visit the company's website www.nexusgoldcorp.com, contact Peter Berdusco, President & CEO, at 604-558-1920 or email info@nexusgoldcorp.com.
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