Nexus Gold Recovers 98.9 g/t Au from Selected Grab Sample at the Dakouli 2 Gold Concession, Burkina Faso, West Africa

2020-09-10 / @thenewswire

(TheNewswire)

- New assays include 98.9 g/t Au, and 49.7 g/t Au from selected grab samples

- Additional grab samples of 10.9, 12.8, 11.1 g/t Au also recovered

- 11 of 40 grab samples taken to date have assayed in excess of 10 g/t Au

Vancouver, Canada – TheNewswire - September 10, 2020 - Nexus Gold Corp. (“Nexus” or the “Company”) (TSXV:NXS), (OTC:NXXGF), (FSE:N6E) is pleased to announce assay results from its recent reconnaissance and sampling program conducted at the Company’s 100%-owned, Dakouli 2 Gold Concession, located in Burkina Faso, West Africa.

The summer reconnaissance program was designed to both measure the current scope of artisanal activity and to prioritize target locations for the Company’s maiden drill program, scheduled for later this fall. During the program Company geologists collected 10 rock samples from areas being exploited by artisanal miners (“orpailleurs”). A highlight result of 98.9 grams-per-tonne (“g/t”) gold (“Au”) was returned from sample DK-0036. This sample was a select grab sample of material being mined by the orpailleurs from a depth of 40 meters below surface. A nearby sample of material which had undergone preliminary gold extraction by panning and a waiting a second round of panning returned results of 49.7 g/t Au. Select samples from proximal orpailleurs shafts from varying depths also returned elevated gold values of 12.8 g/t Au, 11.1 g/t Au, and 10.9 g/t Au, respectively.

“These additional samples continue to build a compelling case to drill Dakouli,” said president & CEO, Alex Klenman. “The volume of significant sample grades continues to grow. The main orpaillage is now well over 400 meters in an east-west strike, by 200 meters north-south, and the locals are down as much as 80 meters in the shafts. That’s a significant mineralized footprint. Obviously, there’s gold at Dakouli. We’re eager to begin drilling to define just what the scope of the mineralization is in the main area, and to further define additional areas of interest on the project ground,” continued Mr. Klenman

Results from the Summer 2020 Reconnaissance Program are tabled below.

-------------------------------------------------------------------------------------------------------------------------------------- |Sample |Utm E |Utm N |Sample|Description |Au | |ID | | |Type | |g/t | |------------------------------------------------------------------------------------------------------------------------------------| |DKL-0030|636935|1445661|Garb |Quartz vein from collapsed orpaillage pit |0.53 | | | | |Select| | | |------------------------------------------------------------------------------------------------------------------------------------| |DKL-0031|636942|1445649|Grab |Quartz vein from orpaillage pit, from 30m depth |10.9 | | | | |Select| | | |------------------------------------------------------------------------------------------------------------------------------------| |DKL-0032|636937|1445638|Grab |Quartz vein from orpaillage pit, from 50m depth |12.8 | | | | |Select| | | |------------------------------------------------------------------------------------------------------------------------------------| |DKL-0033|636937|1445638|Grab |Crushed material from orpailleurs, very fine gold, extracted for a first round, about 50m depth|2.3 | | | | |Select| | | |------------------------------------------------------------------------------------------------------------------------------------| |DKL-0034|636930|1445636|Grab |Quartz vein from orpaillage pit, from 30m depth |0.036| | | | |Select| | | |------------------------------------------------------------------------------------------------------------------------------------| |DKL-0035|637008|1445658|Grab |Quartz vein from orpaillage pit, from 70m depth |0.646| | | | |Select| | | |------------------------------------------------------------------------------------------------------------------------------------| |DKL-0036|637034|1445648|Grab |Quartz vein from orpaillage pit, from 40m depth |98.9 | | | | |Select| | | |------------------------------------------------------------------------------------------------------------------------------------| |DKL-0037|637033|1445704|Grab |Quartz vein from orpaillage pit, from 40m depth |1.86 | | | | |Select| | | |------------------------------------------------------------------------------------------------------------------------------------| |DKL-0038|637033|1445704|Grab |Crushed material from orpailleurs, very fine gold, |49.7 | | | | |Select|extracted for a first round, material from 50m | | | | | | |depth | | |------------------------------------------------------------------------------------------------------------------------------------| |DKL-0039|637025|1445710|Grab |Quartz vein from orpaillage pit, from 50m depth |11.1 | | | | |Select| | | |------------------------------------------------------------------------------------------------------------------------------------| |DKL-0040|637025|1445710|Grab |Quartz vein + volcano sediment rock from orpaillage pit, 50m depth |7.48 | | | | |Select| | | --------------------------------------------------------------------------------------------------------------------------------------

Table 1: Summer 2020 Sample Results, Dakouli 2 Gold Concession, Burkina Faso, West Africa (Utm coordinates are in Adindad 30 Projection)

*Grab samples are selective by nature and may not represent the true grade or style of mineralization across the property

The samples described above once collected were placed in labeled 3 mil poly plastic bags and sealed with a zap strap. The samples remained with Company personnel at all times until they were delivered to Activation Laboratories (“Actlabs”) Ouagadougou, an independent laboratory with ISO 9001: 2015 accreditation. At Actlabs, the samples underwent analysis by fire assay with an atomic absorption finish. If samples returned values greater than 5 ppm gold the sample was reanalyzed by gravimetric fire assay. For these prospecting samples, the company relied on QA/QC protocols employed by Actlabs.

As announced in a Company news release dated June 23, 2020, during recent site visits Nexus personnel noted an increase in artisanal mining activity along strike at the main mineralized zone. The increased strike activity now extends the limits of the eastern zone some 200 meters to the east, thus expanding the zone of mineralization to over 400 meters along an east-west trend while also measuring over 200 meters in a north-south direction.

The Company’s prior sampling programs at Dakouli 2 have produced several significant results, tabled below, as reported in Company news releases dated January 8 and January 15, 2019, and June 23, 2020:

----------------------------------------------------------------------------------------------------------- | |Dakouli 2 samples greater than 1 g/t Au as of June 2020 | | |---------------------------------------------------------------------------------------------------------| |Sample-ID|Comment |Au | | | |g/t | |---------------------------------------------------------------------------------------------------------| |DKL-001 |Qtz from orpaillage pit, about 8m depth, light grey to smoky qtz, looks like flat vein |3.15| |---------------------------------------------------------------------------------------------------------| |DKL-004 |Milky qtz vein from orpaillage pit, about 8m depth, several pieces of VG show from panning|27.5| |---------------------------------------------------------------------------------------------------------| |DKL-009 |Milky qtz vein from orpaillage pit, 18m depth |2.90| |---------------------------------------------------------------------------------------------------------| |DKL-010 |Light grey qtz vein from orpaillage pit |4.93| |---------------------------------------------------------------------------------------------------------| |DKL-011 |Qtz from orpaillage pit, VG show in panning and on a |29.5| | |piece of quartz coming from the same shaft, about 10m | | | |depth | | |---------------------------------------------------------------------------------------------------------| |DKL-012 |Qtz from orpaillage pit, about 8m depth, VG show in panning |12.4| |---------------------------------------------------------------------------------------------------------| |DKL-021 |Qtz from orpaillage pit, 15m depth, white to light grey |2.72| |---------------------------------------------------------------------------------------------------------| |DKL-022 |Qtz from orpaillage pit, 25m depth |11.1| |---------------------------------------------------------------------------------------------------------| |DKL-023 |Qtz + VG from orpaillage pit, 40m depth |17.6| |---------------------------------------------------------------------------------------------------------| |DKL-024 |Qtz from orpaillage pit, 40m depth |1.74| |---------------------------------------------------------------------------------------------------------| |DKL-025 |Qtz from orpaillage pit, 17m depth |3.68| |---------------------------------------------------------------------------------------------------------| |DKL-027 |Crushed material, very fine gold, 40m depth |10.8| -----------------------------------------------------------------------------------------------------------

Table 2: Highlights of earlier Nexus sample assays, Dakouli 2 Gold Concession

*Grab samples are selective by nature and may not represent the true grade or style of mineralization across the property

As the Company prepares for the upcoming drill program it will continually monitor artisanal activities along this expanding mineralized trend.

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 first 25 samples collected in late 2018, 11 returned assay values greater than 1 g/t Au, with multiple samples showing various concentrations of visible gold, with values between 11.1 g/t Au and 29.5 g/t Au (see Figure 1, and Company news release dated January 8, 2019).

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 and southern portions of the contiguous Niangouela property. This survey identified three prominent gold geochemical trends. The primary gold trend parallels the Sabce fault zone 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. The geochemical surveys and sampling work done to date have generated multiple targets the Company intends to begin testing in this initial drill program.

The Dakouli 2 permit lies immediately south of, and contiguous to, the Company’s Niangouela Gold Concession, which has been explored over the past three years. Drilling at Niangouela has returned significant intercepts, including 26.69 g/t Au over 4.85m, including 132 g/t Au over 1m, and 4 g/t Au over 6m, including 20.5 g/t Au over 1m (see Company news releases dated March 7, 2017 and April 5, 2017).

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Figure 1: Nexus Gold projects in Burkina Faso, in relation to well known deposits and producing mines

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Figure 2: Dakouli 2 concession with bisecting Sabce faults in red

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 eleven projects in Canada and West Africa. The Company’s West African-based portfolio totals five projects encompassing over 750-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 several core assets while seeking joint-venture, earn-in, and strategic partnerships for other projects in its growing portfolio.

For more information please visit nexus.gold

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Alex Klenman

President & CEO

604-558-1920

info@nexusgoldcorp.com
www.nexusgoldcorp.com

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