Nexus Gold Recovers Additional High-Grade Samples at Dakouli 2 Project, Burkina Faso, West Africa

2019-01-15 / @thenewswire

(TheNewswire)

Visible gold now recovered from multiple zones

New sample highlights include 17.6 g/t Au, and 11.1 g/t Au

Five of 25 samples taken to date returned values in excess of 11 g/t Au

Strike length of new zone extends 400 meters

Vancouver, Canada / TheNewswire / January 15, 2019 - Nexus Gold Corp. (“Nexus” or the “Company”) (TSX-V: NXS, OTCQB: NXXGF, FSE: N6E) is pleased to report additional sample results from the recently acquired, 100% -owned, 98-sq km Dakouli 2 Gold Project, located on the Goren Greenstone Belt, central Burkina Faso, West Africa.

A total of 13 samples were taken in the second round of prospecting on the Dakouli 2 property, with five returning values between 1.74 grams-per-tonne (“g/t”) gold (“Au”), and 17.6 g/t Au, and eight returning values from 0.052 to 0.864 g/t Au. Samples were collected from orpaillage dumps and from depths of 15 to 40 meters below surface within active artisanal pits and shafts.

Of the first 25 samples now collected on the property, 11 have returned values greater than 1 g/t Au. Five samples so far have exhibited various concentrations of coarse, nuggety, visible gold, returning assay values greater than 11 g/t Au. All 25 samples taken to date at Dakouli 2 have tested positive, with several returning significant gold values (see Table 1).

Ground reconnaissance recently completed by the Company has identified two new mineralized zones and a secondary vein structure just south of the primary Northeast Zone described in the Company’s January 8, 2019, news release.

The secondary vein structure identified is located 70 meters south of the primary Northeast Zone. The new workings are parallel to the primary orpaillage being worked and three samples taken 17 to 40 meters below depth returned gold values of 1.74 g/t Au, 3.68 Au and 17.6 g/t Au, respectively. The 17.6 g/t sample exhibited coarse visible gold. The workings of the Northeast Zone on the Dakouli 2 property now cover an area measuring 400 meters along strike enclosing two parallel gold bearing structures 150 meters wide.

An additional new zone, located on the western boundary of the Dakouli 2 permit, has returned two samples from workings located there of 2.72 g/t Au and 11.1 g/t Au. This second orpaillage, termed the Boken Vein Zone, consists of gold in quartz veins located proximal to a granitic plug. The samples were taken from workings at 25-meter depths.

“The secondary structure identified in the north east and the Boken Vein showings are revealing just how robust the Sabce fault zone is,” said Vice President of Exploration, Warren Robb, P.Geo. “The amount of coarse visible gold we have seen thus far makes this a very exciting exploration program,” continued Mr. Robb.

“These are positive early indicators at Dakouli,” said Alex Klenman, president & CEO. “We have already confirmed multiple mineralized zones on the property and are currently mapping out these zones to determine their relationship to known structural faults and trends. It is a prolific area in terms of gold mineralization and we are encouraged by both the abundance of visible gold at Dakouli and the sample grades so far. We have lots of similar ground to cover, I’m looking forward to a deeper and more extensive exploration program, including a maiden drill program, in the coming months,” continued Mr. Klenman.

---------------------------------------------------------------------------------------------------------------------------- | | | |Dakouli Samples to date | | |--------------------------------------------------------------------------------------------------------------------------| |Sample-ID|Easting|Northing|Comment |Au | | | | | |g/t | |--------------------------------------------------------------------------------------------------------------------------| |DKL-001 |636687 |1445630 |Qtz from orpaillage pit, about 8m depth, light grey to smoky qtz, looks like flat vein |3.15| |--------------------------------------------------------------------------------------------------------------------------| |DKL-004 |636763 |1445627 |Milky qtz vein from orpaillage pit, about 8m depth, several pieces of VG show from panning|27.5| |--------------------------------------------------------------------------------------------------------------------------| |DKL-009 |636828 |1445661 |Milky qtz vein from orpaillage pit, 18m depth |2.90| |--------------------------------------------------------------------------------------------------------------------------| |DKL-010 |636767 |1445652 |Light grey qtz vein from orpaillage pit |4.93| |--------------------------------------------------------------------------------------------------------------------------| |DKL-011 |636738 |1445670 |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 |636677 |1445642 |Qtz from orpaillage pit, about 8m depth, VG show in panning |12.4| |--------------------------------------------------------------------------------------------------------------------------| |DKL-021 |625232 |1441439 |Qtz from orpaillage pit, 15m depth, white to light grey |2.72| |--------------------------------------------------------------------------------------------------------------------------| |DKL-022 |625269 |1441469 |Qtz from orpaillage pit, 25m depth |11.1| |--------------------------------------------------------------------------------------------------------------------------| |DKL-023 |636901 |1445515 |Qtz + VG from orpaillage pit, 40m depth |17.6| |--------------------------------------------------------------------------------------------------------------------------| |DKL-024 |636903 |1445514 |Qtz from orpaillage pit, 40m depth |1.74| |--------------------------------------------------------------------------------------------------------------------------| |DKL-025 |636967 |1445530 |Qtz from orpaillage pit, 17m depth |3.68| ----------------------------------------------------------------------------------------------------------------------------

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Prospecting along the southern boundary of the property has now identified a third area of active artisanal workings. Shafts and workings in this area have targeted a black quartz vein which has returned anomalous gold values ranging from 0.312 to 0.864 g/t Au. This southern series of showings is termed the Black Vein Zone and is located along the southern Sabce Sud lineament. This lineament is defined by the Gougre satellite open pit currently being exploited by Nordgold, a major orpaillage occurring on the adjacent eastern permit, and the orpaillage at the Black Vein Zone.

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Figure 2: Close up of visible gold in quartz sample recovered at the Dakouli 2 concession

The Dakouli 2 exploration permit is located approximately 100 kilometers due north of the capital city Ouagadougou. The 98-square kilometer permit lies immediately south of the Company’s Niangouela property (see figures 3 and 4) which has been explored over the past two years. Drilling at Niangouela has returned significant intercepts, including 26.69 g/t Au over 4.85m (including 1m of 132 g/t Au), and 4 g/t Au over 6m (including 20.5 g/t Au over 1m).

The Dakouli 2 property is located on the Goren Greenstone belt and is bordered to the north by granitic rocks. It is also bisected by the Sabce Shear, a major structural fault zone proximal to multiple gold deposits, which trends southwest northeast and bisects the entire long axis of the property.

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Figure 3: Nexus project locations with known structural faults in red

The Sabce Nord (see Figure 4) trend starts at Nordgold’s Bissa mine continues through the Northeast Zone on the Dakouli 2 permit, and the southeastern corner of the Niangouela permit. It proceeds to Boken Vein Zone on the western boundary of Dakouli 2 and is approximately 12 kilometers in length.

The Sabce Sud (see Figure 4) hosts Nordgold’s Gougre satellite pit, east of Dakouli 2, and runs approximately four kilometers across the property’s southern section, bisecting the Black Vein Zone. The Black Vein Zone, an active orpaillage featuring a series of deep shafts that trend sub parallel to the Sabce Sud, features hard, black siliceous rock, similar to what is being mind at the Gourgre satellite pit.

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Figure 4: Dakouli 2 mineralized zones and bisecting Sabce faults/lineaments in red

About the Company

Nexus Gold is a Vancouver-based gold exploration and development company operating primarily in Burkina Faso, West Africa. The company is currently concentrating its efforts on establishing a compliant resource at one or more of it’s four current Burkina-based projects which total over 560-sq kms (56,000+ hectares) of land located on proven gold belts and active mineralized trends.

Warren Robb P.Geo., Vice-President, Exploration, 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.

Alex Klenman

President & CEO

604-558-1920

info@nexusgoldcorp.com
www.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.