Gold Fever replied the topic: – NEXUS GOLD COMMENCES DRILLING AT 2nd GOLD PROJECT BOUBOULOU
Vancouver, Canada / TheNewswire / June 13, 2017 - Nexus Gold Corp. ("Nexus" or the "Company") (TSX-V: NXS, OTC: NXXGF, FSE: N6E) is pleased to report that drilling has commenced at its 38-sq km Bouboulou gold concession. Bouboulou is located approximately 75 kilometres north-west of the capital Ouagadougou, on the Boromo-Goren greenstone belt, and is bisected by the Sabce shear zone.
The 2000 metre phase one diamond drill program at Bouboulou will target previously identified mineralized zones at the property, namely Bouboulou 2, Pelatanga, and Rawema. In addition, the Company will test the Koala zone, where recent samples ran as high as 66 grams-per-tonne ("g/t") gold ("Au"), and the newly identified Rawema West zone.
New Zone Identified - Rawema West
As reported in a June 6, 2017 news release, company geologists have now determined the presence of a new mineralized zone at Bouboulou through the observance of increased artisanal activity, and the result of rock sampling taken from the newly observed area.
The new zone, named "Rawema West", occurs approximately 1000 metres west of the main workings at the previously identified Rawema site. The Artisanal workings extend some 150 metres in length and appear by observation to extend to depths of greater than 20 metres.
Company geologists collected seven select rock samples of dump material from the Rawema West workings. Of the seven samples collected there, four returned values greater than 1 g/t Au, including BBL-004 which returned 9.49 g/t Au.
Plans Underway For Second Gold Project Drilling Bouboulou
Nexus Gold Corp. (NXS.V) provided updates from its two gold exploration projects in Burkina Faso, West Africa.
Phase Two Drill Program at Niangouela Completed
The Company reported it has completed its phase two diamond drill program at the 178-square kilometre Niangouela exploration permit, located approximately 85 kilometres north of Ouagadougou. The completed drilling included the remaining phase one holes (approximately 500 metres) and an additional 2000 metres comprising the phase two program. A total of 18 holes, consisting of 2572 metres, were drilled in this latest round.
Eleven of the holes drill tested the westerly strike and dip extension of the main quartz-shear zone. Of the remaining seven holes, three tested the eastern extension of the main zone and four tested two of the newly identified zones (see news release of May 3, 2017).
In addition, the Company also completed a trenching program which consisted of six trenches totalling 384 metres. Three of the six trenches were designed to test the easterly strike extension of the main zone identified in phase one drilling, and to expose the trends of the mineralization identified by surficial mapping conducted by the Company. The remaining three trenches were dug to test newly discovered zones.
The phase two diamond drill program at Niangouela was undertaken to test the dip and strike extensions of gold mineralization identified by the Company in its initial phase one program. The program also tested additional targets identified through surface mapping and prospecting. To date the Company has now completed 4020.5 metres of diamond drilling at Niangouela. Results from the latest program will be released once received, reviewed and verified.
Gold Fever replied the topic: Nexus Gold Identifies Five New Quartz Gold Zones
Nexus Gold Identifies Five New Quartz Gold Zones at Niangouela
New Gold Zones are Currently Being Explored by Trenching and Drilling
Nexus Gold Corp. (NXS.V) provided an update on the Company’s ongoing exploration activity in Burkina Faso, West Africa.
Additional Zones and Targets Identified at Niangouela
Company geologists are pleased to report that in addition to the main quartz vein-shear system tested to date, an additional five zones of veining and shearing have now been identified at the Niangouela gold concession.
These additional structures were originally observed in artisanal workings and are currently being tested by trenching and drilling. Initial sampling of the dumps from two of the new zones have returned values of 2.25 grams per tonne (“g/t”) gold (“Au”), and 1.88 and 1.86 g/t Au, respectively.
The zones occur over approximately 2000 metres (2km) in an east-west direction and are spread over 500 metres in a north-south direction. These additional targets are located approximately 200 metres north and 1000 metres east of the main zone which has been the focus of the drilling to date. The company has been testing these zones over its phase two program and anticipates continued testing of these new zones in further phases.
An area map designed to illustrate the identified zones now known at Niangouela is currently being created and will be made available on the company website when completed.
Niangouela Gold Concession Update
The Company anticipates concluding its phase two diamond drill program at the 178-square kilometre Niangouela exploration permit located approximately 85 kilometres north of Ouagadougou, Burkina Faso, in early May. A 2000m phase two program has been underway since early April to test down the dip and strike extensions of gold mineralization identified by the company in its initial phase one program. The program is also testing additional targets identified through surface mapping and prospecting. Results from this program will be released once received, reviewed and verified.
Highlights from the first nine phase-one drill holes at Niangouela, as reported in Company news releases March 7, 2017, and April 5, 2017, include 6.2m of 4.00 g/t Au (including 1m of 20.50 g/t Au); 4.85m of 26.69 g/t Au (including .62m of 11.70 g/t Au, and 1.03m of 132 g/t Au); and 4m of 2.95 g/t Au (including 1m of 5 g/t Au) and 1m of 5.92 g/t Au*. Phase one drill results to date can be found on the company website here:
* Note assay results represent intercept lengths and are not true widths
Bouboulou Gold Concession
The Company is pleased to announce plans to undertake a previously announced diamond drill program at its 38.8-sq km Bouboulou gold concession, in June. Bouboulou is located approximately 75 kilometres north-west of the capital Ouagadougou, on the Boromo-Goren greenstone belt, and is bisected by the Sabce shear zone.
“With the onset of the rainy season the Company’s technical team has recommended we move operations to the Bouboulou concession during this time,” said President and CEO, Peter Berdusco. “The heavy rainfall is less problematic from an operational standpoint at Bouboulou and this gives us an opportunity to continue our drilling in Burkina Faso, and in particular, on one of the three major gold-mineralized trends we’ve identified on the property,” continued Mr. Berdusco.
Four zones of gold mineralization have been previously identified on the property, termed Koala, Rawema, Bouboulou 2 and Pelgtanga. In 2011 and 2012 Roxgold Inc completed reverse circulation (RC) and diamond drilling (DD) pograms to test these four mineralized zones.
Historical drilling highlights from each of the four zones can be found on the Company website here:
The Company has subsequently identified three distinct 5000m (5km) long anomalous gold trends at the Bouboulou concession. Each of the three trends display strong coincidental geochemical and geophysical gold anomalies, and extend from the four drill-identified mineralized zones, namely Rawema, Pelgtanga, Bouboulou 2 and Koala. They are identified by numerous orpaillages and geochemical samples of greater than 1 g/t Au. All three of the Bouboulou trends identified are defined by similar coincidental anomalies. Each trend has substantial artisanal workings either directly on them, or along the trend.
NEXUS GOLD RECEIVES NEW PERMIT FOR BOUBOULOU GOLD CONCESSION, BURKINA FASO, WEST AFRICA
Nexus Gold Corp. has received a new work permit for its Bouboulou gold concession located in Burkina Faso, West Africa. The new permit is for an initial term of three years and can be renewed twice for a total term of nine years.
"The new permit puts Nexus in a favourable position with respect to our developmental timeline at Bouboulou and Burkina Faso in general. With numerous complex mineralized zones, this ensures that the property can be effectively explored, developed and advanced in all areas," said president and chief executive officer Peter Berdusco. "The new permit now gives us the opportunity to timeline the development of the Bouboulou project to its full potential. In combination with our Niangouela project, this is an important advancement for the company and brings us a step closer to becoming a significant exploration and development company in West Africa," continued Mr. Berdusco.
About the Bouboulou gold concession
The Bouboulou exploration permit covers an area of 38.8 square kilometres approximately 75 kilometres northwest of the capital Ouagadougou and is accessible by paved road. The Bouboulou permit is located on the Boromo-Goren greenstone belt and is bisected by the Sabce shear zone.
This regional northeast-trending structure hosts numerous artisanal workings along its 120-kilometre length and hosts the Bissa Hills deposit presently being mined by Norgold. Three five km anomalous gold trends exist on the property along with numerous artisanal zones (orpaillages).
Gold mineralization was first identified at Bouboulou by Boliden in 1997 where a regional rotary air blast (RAB) drilling program outlined a broad northeast-trending gold anomaly measuring 13 km by two km over what is now the Bouboulou permit. The concession was then explored by Riverstone Resources and Roxgold Inc.
Highlights of these surface exploration programs include surface rock sampling and trenching that returned gold grades from 1.09 to 19.16 grams per tonne. Four zones of gold mineralization have been identified on the property, termed Koala, Rawema, Bouboulou 2 and Pelgtanga. Roxgold later completed reverse circulation (RC) and diamond drilling (DD) to test the four mineralized zones.
Warren Robb, PGeo, senior geologist, is the designated qualified person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.
Gold Fever replied the topic: New Management Interview
Exclusive Interview with Nexus Gold Corp (CVE:NXS) Chairman and COO Alex Klenman
When it comes to foreshadowing the future of Nexus Gold Corp (CVE:NXS), Chairman and COO Alex Klenman has seen a lot in his experiences throughout the different stages of this rising Vancouver-based mineral exploration company. In an exploration game, the Nexus leader has his sights set on short-term success, and with a powerful geological team under the company’s domain, the Chairman is always seeking the next “high reward” game-changer.
This is not a fool’s gold opportunity, and Klenman will be the first to tell you of Nexus’ challenges as well as its triumphs. It is clear that momentum is on this gold company’s side, between a wealth of differing backgrounds behind the team, “astronomical” returns in new areas of modern exploration in West Africa, and the funds to back up ambitious future projects that lie ahead.
I had the opportunity to discuss the gilded headway Nexus is making in Burkina Faso with Mr. Klenman and why the company is at the edge of tapping into its greatest potential yet.
Let’s examine why this exploration company is at the forefront of making it big just as the tides are turning bullish for the gold sector:
Julie Lamb: Mr. Klenman, I see you have a long history with the many evolutions of Nexus. Originally, you were a director back when Nexus was still Alita Resources. You additionally were a Vice President at Columbia Star Resources for three years, which has since been acquired by Nexus. How has the experience you have gained through these various stages helped you to bring value to the company?
Alex Klenman: The key I think is recognizing what you learn in each set of experiences and retaining that knowledge, then applying that through strategy and execution. We are the sum of our experiences, so it makes sense that the more you do, the more you know.
JL: The company has had its eyes set on targeting West Africa for some key mining prospects, with two projects mid-development in Burkina Faso: Niangouela and Bouboulou gold concessions. Can you elaborate on your goals for these projects in the next few years?
AK: Both are highly anticipated projects. Niangouela has really jumped to the forefront. We’ve gone from acquisition to discovery in just four short months. It’s a big land position- 178 square kilometers, or about 45,000 acres.
Before now, there had never been any modern exploration done in the area, other than some sampling and trenching- but certainly no geophysics and no drilling. We did a quick sample program in December as a test and we found some very high grade returns- astronomical grades, really. Things have progressed very nicely there.
Our follow-up drill program- the first ever at Niangouela- hit gold in eight of the first nine holes, including some high-grade intercepts. So, a fantastic start by any standards.
We will be getting to our other project Bouboulou shortly. It’s a prospect that has already had numerous exploration programs performed there and some significant gold intercepts have already been obtained.
JL: The Boromo greenstone belt has some untapped potential. Before the Niangouela concession, there had never been a drill program completed on the concession. Of the nine holes drilled in 2016, three turned up with visible gold results. What are your prospects for locating high grade gold deposits in this region in the near-term?
AK: First, our exploration team has a lot of experience and has had meaningful success before in Burkina. They know the ground and have been there, and done that, so to speak.
As for Niangouela, we are encouraged by the early success there, particularly when you consider that of the 45,000 acre land package, we’ve only explored a few hundred. We have a long way to go. There are a lot of hot spots and mineralized zones on the property.
JL: Nexus has goals to kickstart a 2,000 meter diamond drill program at Boubolou in the back half of this year. What are your goals with regards to having recently boosted diamond drilling in Burkina Faso?
AK: Bouboulou was our primary focus until Niangouela sort of stole the spotlight with amazing early results. It’s important to understand Bouboulou is farther along the developmental path. Bouboulou may be a smaller land package, but a more proven one as several exploration programs and drill programs were already performed on the concession. We sort of already have an idea of what we have there.
The next steps are to just go in and confirm the historical results in place- then expand the mineralized zones. According to all the historical data we’ve acquired, there are three large trends on the property and each one is suggestive of types of deposits. Our goal would be to confirm or prove what we believe the data shows.
JL: What are your expectations for the company’s drilling projects in Burkina Faso?
AK: We’d like to continue to find additional mineralized zones. That’s the exploration game. We find it and we prove it. Both properties have answered the ‘find it’ question already.
Now, the company is focused on developing projects and moving the programs into definition drilling to determine the size and scope of the mineralization. The goal of any company like Nexus is to get to a resource estimate once you’ve made a discovery or acquired an early stage prospect.
JL: What is the financial picture for the company? Does the company have enough cash to get through all the upcoming steps or will you be looking for additional funding?
AK: Currently we are sufficiently capitalized to conduct several rounds of exploration drilling.
JL: Can you elaborate on the corporate infrastructure and how the company’s team is helping take Nexus to the next level?
AK: We have a complimentary management team. Our corporate side has real world experience in finance, marketing, compliance, branding, communications, and exploration management. Our geological side has a history of successful discovery and development in Burkina Faso and elsewhere. We feel confident growth is in the company’s near-term future.
JL: Does the company have any future acquisitions in mind?
AK: One of the goals is to have a portfolio of prospective projects in play. This allows us to reduce risk and increase the potential for success. We are always on the lookout for high reward projects.
JL: Do you have any plans to use any new technological methods for future gold exploration?
AK: We did employ a cutting-edge “Element Detection” technology on a Nevada project in 2015. It was certainly compelling. Although we couldn’t 100% conclusively prove the validity of the technology, we do believe it is on the right track for the future of mineral exploration.
Where we are in West Africa though is not a place this type of thing would apply. We already know both of our current projects have gold in the systems, so the need to confirm its presence from above-ground isn’t there.
JL: On a closing note, what would you like investors to remember about Nexus and where the company is headed down the road?
AK: Presently, we are confident and satisfied to be in a great position. We have about a $25M or $30M CDN market cap. We are by all accounts on the verge of a memorable bull run in gold. Typically, it is the explorationists, the early stage developers that see biggest returns in this type of market set up.
Over the next two or three years, the biggest and most attractive investment returns will be found among the small juniors like Nexus Gold. In this environment, $25M market caps can become $100M or more.
We like where we are, we like what we’re seeing, and we are excited that timing seems to be on our side. And you know what they say- timing is everything.
alexgreat replied the topic: Nexus Gold News - Phase 2 Drilling in Progress and
Fever, thanks for the comparables, they definetly in a great location and the 2 projects looking very good. The chart is showing nice consolidation here. I am thinking of buying some more or might wait for a breakout, that worked very well for me on BGM
1 year 5 months ago - 1 year 5 months ago#117888by Gold Fever
Gold Fever replied the topic: NEXUS GOLD OUTLINES THE PATH FORWARD
NEXUS GOLD OUTLINES THE PATH FORWARD TO BECOMING A PREEMINENT GOLD EXPLORER IN BURKINA FASO
Nexus Gold Corp. (TSX.V: NXS / OTC: NXXGF / FSE: N6E) is building a portfolio of gold projects in Burkina Faso, West Africa that offer significant discovery potential.
In early 2016 Nexus took notice of the significant gold potential being realized throughout the country of Burkina Faso by other junior miners. Recent notable successes include Roxgold’s (TSX.V: ROG) Yaramoko gold discovery, SEMAFO’s (TSX: SMF) Mana Mine (produced 240,200 ounces of gold in 2016), and Endeavour Mining’s (TSX: EDV) Houndé mine (nearing construction completion and anticipated to produce nearly 200,000 ounces of gold annually).
With its sights set on Burkina Faso, Nexus worked diligently throughout 2016 and was rewarded with two strategic acquisitions- the 178 square kilometer Niangouela gold concession as well as the previously explored Bouboulou concession. Both projects are located within the highly prospective and greatly underexplored Boromo greenstone belt.
Nexus also retained a top technical team led by P. Geo. Warren Robb, who knows Burkina Faso well having previously served as Chief Geologist for Roxgold where he supervised field exploration and diamond drilling on the Yaramoko gold discovery.
Niangouela Gold Concession
Late in 2016 the Company closed on a district-scale size land package located in the heart of the Boromo greenstone belt. The Niangouela concession is fully accessible by road and located just southwest of Nordgold’s flagship Bissa-Bouly mines, which collectively produced 214,000 ounces of gold in 2016.
Led by Robb’s intimate knowledge of the region, the Company got right to work at Niangouela mapping, sampling and completing the first ever drill program on the concession.
Initial sampling of quartz vein material taken below surface from an artisanal shaft assayed 2,950 g/t gold. This was followed by a Phase I drill program that has delivered promising results thus far, intersecting gold mineralization in eight of nine drill holes. Initial assays have reported 26.69 g/t gold over 4.85 meters (including 120 g/t gold over 1.03 meters) in hole NGL-17-DD-008.
"These results are encouraging and complement our earlier sampling program extremely well," says Nexus Senior Geologist Warren Robb. "The first samples we reported established the presence of high-grade gold in the quartz vein. Of the first nine holes we drilled, three have returned visible gold. We have now established additional high-grade mineralization, not only in the quartz vein, but also in the shear zone. Given that the shear and the quartz both show significant grade, our drill efforts will now focus on delineating additional mineralized zones up and down the strike length, and the higher-grade shoots that could be contained within it.”
Commencement of a Phase II drill program is already planned and will immediately commence following completion of the expanded Phase I program. Nexus plans to test a newly identified zone of artisanal workings that occur along strike of the main shear zone and 800 meters east of the Phase I drilling area.
Bouboulou Gold Concession
The Company has also acquired the 38-square kilometer Bouboulou concession, which was explored as recently as 2012. Nexus believes that historic work done by Roxgold (see 43-101 Technical Report authored by Robb in 2010), BHP Minerals and Boliden have only scratched the surface of Bouboulou’s gold potential.
Historic regional exploration by Boliden outlined a broad north-east trending gold anomaly traced for 13 kilometers. Roxgold later drilled four mineralized zones within the trend. Highlighted results included a 40 meter intercept of 1.55 g/t gold and a 10 meter intercept of 2.84 g/t gold (including 2 meters of 12.45 g/t gold).
Since acquiring the concession Nexus has compiled historic data and identified three anomalous gold trends not tested by previous operators. Each trend is believed to extend up to 5,000 meters in strike length and confirmed by numerous zones of artisanal gold mining and geochemical samples grading greater than 1 gram per tonne gold.
Nexus has outlined plans to test the potential of these targets and is slated to commence a 2,000-meter diamond drill program at Bouboulou during the second half of 2017.
The Path Forward
Nexus will continue putting money in the ground over the next 18 months, with drill programs planned at both concessions along with continued regional exploration.
“Burkina Faso offers excellent discovery potential and the government is highly motivated to continue permitting and building mines,” states Nexus Chairman of the Board Alex Klenman. “Our team is seasoned in the country and our concessions host numerous high priority targets. We hope to delineate high grade gold deposits over the coming years and maximize shareholder returns in the process.”
Shares of Nexus trade in the U.S. under the ticker symbol NXXGF and in Canada on the Venture exchange under the symbol NXS.
The Company is funded with approximately CA$ 2.1 M in treasury along with potential proceeds from warrant exercises that would total $ 3.1 M.