Nexus Gold Corp (NXSGD)

[Let's Roll]

“The ground under consideration by Nexus in Gabon is a very large area that is highly prospective for gold,” said Ian Stalker, non-executive Chairman. “Previous work by earlier operators has indicated the potential for high-grade resources, and indeed the work done previously is an excellent starting point for us, saving the Company millions of dollars of upfront expenditures. Gabon itself is a very stable environment in which to work and has had little recent geological work undertaken. We feel it offers the Company a strong opportunity to be at the forefront of the development of a potentially new and exciting gold province,” continued Mr. Stalker.

“The historical work and regional data we have examined so far is compelling,” said Alex Klenman, president & CEO. “We are eager to dive more vigorously into the due diligence process here and acquire as much data on the concessions as possible. This is very much a district-scale opportunity for Nexus. Land packages of this size with exploration upside don’t come along every day. With the gold price showing significant strength recently and the potential to reach even greater levels in the near future, an acquisition of this type and scale has the ability to add substantial value,” continued Mr. Klenman.

Approximately 1,000 meters of core drilling was completed in the central gold-in-soil anomaly of one of the permits* and high-grade gold mineralisation in a 120m wide deformational zone was encountered. Results included 2 m at 5.3 g/t Au (including 1 m at 9.5 g/t Au) in the first drill line and 2.2 m at 4.5 g/t Au (including 1 m at 9.1 g/t Au) in the second drill line. High-grade intersects occur in a sheared amphibolite and amphibole-rich dioritic gneiss with related brittle-ductile deformation**.

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