Nexus Gold (TSXV: NXS; US-OTC: NXXGF) has released the first assays from a recently completed diamond drill program at its 100%-owned Dakouli 2 gold project in central Burkina Faso, about 100 km north of the capital Ouagadougou.
Highlights included drillhole DK-21-DD-001, which intersected 23 metres grading 0.95 gram gold per tonne starting from 112 metres, including 15 metres of 1.01 grams gold. Hole DKL-21-DD-002 returned 28 metres grading 1.9 grams gold from 91 metres, including four metres of 10.87 grams gold.
The 11-hole, 2,500-metre drill program was designed to confirm and further test zones of mineralization discovered during an initial 22-hole, 2,914-metre reverse circulation drill program completed in late 2020, the company says.
"We're getting a better understanding of continuity along this main trend that appears to extend several kilometers to the west," Alex Klenman, Nexus' CEO, stated in a press release, adding that the company is also "gaining valuable insight into how the gold deposition is occurring at Dakouli."
The 9,800-hectare property is bisected by the gold-bearing Sabce shear zone, which hosts multiple deposits, including Nordgold's (LSE: NORD) Bissa gold mine, about 25 km east of Dakouli 2.
The primary gold trend at the project parallels the Sabce fault zone and extends for about 10 km in a northeast-southwest direction, bisecting the property from the northeast corner to its western boundary. Two secondary gold trends that extend for approximately 6.5 km each, are oriented in a northwest to southeast direction and bisect the primary trend.
"The large geochemical footprint at Dakouli, in addition to artisanal activity, indicates there are potentially sub zones or corridors that parallel the main trend that appear to extend in a southwesterly direction," noted Klenman. "Once all results are received and released, we'll begin a follow up program to further delineate the mineralization at Dakouli."
At press time in Toronto, Nexus was trading at 6 ? per share within a 52-week trading range of 5 ? and 14 ?. The company has about 256 million common shares outstanding for a $15.4 million market capitalization.