Nexus Gold Acquires Manzour-Dayere Gold Project, Burkina Faso, West Africa
Tickers: OTC:NXXGF, TSX:NXS, FRAA:N6E
Vancouver, Canada - TheNewswire - February 4, 2020 - Nexus Gold Corp. ("Nexus" or the "Company") (TSXV:NXS) (OTC:NXXGF) (FSE:N6E) is pleased to announce that it's wholly owned subsidiary, Nexus Gold Corp. Burkina SARL, has acquired through application a 100% percent interest in the 190.53 sq-km (19,053-hectare) Manzour-Dayere gold exploration permit located on the Boromo Greenstone belt, 325 km south west of the capital city of Ouagadougou, Burkina Faso, West Africa.
Historical exploration conducted on the property between 2011 and 2014 has identified an area of large artisanal workings ("orpaillage") located on the property. Sampling* conducted at this time throughout the artisanal workings returned reported high-grade values of 132 grams-per-tonne ("g/t") gold ("Au"), 85.40 g/t Au, 61.20 g/t Au, and 27.9 g/t Au, from select grab samples of quartz veining at the orpaillage, while select grab samples of the sedimentary host rock have returned values of 103 g/t Au and 21.40 g/t Au, respectively. The workings on the orpaillage are extensive and extend to depths of 60 to 80 meters below surface.
Manzour-Dayere is situated in southwestern Burkina Faso, near the border with Ghana. This area is home to several producing mines, including Yaramoko (Roxgold), Hounde (Endeavour), Poura (Newmont), Bondi (Sarama) and Gaoua (B2Gold).
"We are pleased to add Manzour to our portfolio of exploration projects. It's a large concession in an area of intense artisanal activity, and in a proven belt that is home to some of the country's most prolific mines," said president & CEO, Alex Klenman. "The limited sample results we have reviewed to date have shown the presence of some compelling high-grade values. We like the potential this suggests and intend to pursue a development plan we can execute in the near term. With drilling at Dakouli 2 planned, development of Bouboulou, and now the addition of Manzour, we have a busy year ahead in Burkina," continued Mr. Klenman.
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Figure 1: Burkina Faso country map with producing mines and Nexus Gold projects
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Figure 2: Manzour-Dayere boundary with location of historical samples
The Company's in-country geological team is presently compiling all available historical data, as well as conducting ongoing sampling and reconnaissance that will assist in identifying priority exploration targets for follow up work. With the addition of Manzour-Dayere, Nexus now controls over 750-sq kms of prospective ground in Burkina Faso.
* Please note that while the Company considers sampling results from the Manzour-Dayere concession to be accurate, readers are cautioned that a Qualified Person has been unable to verify the laboratory involved in the analysis of these samples, and no documentation was available regarding quality control procedures utilized in the analysis.
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.
About the Company
Nexus Gold is a Canadian-based gold development company with an extensive portfolio of ten exploration projects in West Africa and Canada. The Company's West African-based portfolio totals five projects encompassing over 750-sq kms (75,000+ hectares) 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 three prospective gold-copper projects (3,300-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 www.nexusgoldcorp.com.
On behalf of the Board of Directors of
NEXUS GOLD CORP.
President & CEO
Neither the 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.
Copyright (c) 2020 TheNewswire - All rights reserved.
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