Nexus Gold Outlines the Path Forward to Becoming A Preeminent Gold Explorer in Burkina Faso
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 million in treasury along with potential proceeds from warrant exercises that would total $3.1 million.
For more information visit www.nexusgoldcorp.com.