Nexus gold moves crew, equipment to drill at McKenzie

Mar 25, 2021

2021-03-25 11:43 ET – News Release

Mr. Alex Klenman reports

NEXUS GOLD MOBILIZES DIAMOND DRILL TO THE MCKENZIE GOLD PROJECT, RED LAKE, ONTARIO

Nexus Gold Corp.’s drilling contractor, Full Force Drilling, is currently mobilizing crews and equipment to the company’s 100-per-cent-owned McKenzie gold project, located in Red Lake, Ont.

This phase 2 program will consist of up to 2,000 metres of diamond drilling to test the lateral and depth extensions of gold mineralization found during last summer’s drill program in the St. Paul’s Bay area of the property. Drilling is expected to commence over the coming weekend.

During the company’s 2020 phase 1 drill program, gold mineralization was encountered in 11 of 13 holes drilled with significant intersections being reported from holes MK-20-006, which returned 2.75 metres of 13.25 grams per tonne gold, including 36.20 g/t Au over one metre, and MK-20-008 returned a significant intercept of 117.5 metres of 0.62 g/t Au, including 55.5 metres of one g/t Au, which also includes intercepts of six metres of 2.37 g/t Au, two metres of 4.28 g/t Au and nine metres of 1.14 g/t Au, among others. Drill hole MK-20-007, which was drilled approximately 25 m east of hole MK-20-008, returned anomalous gold grades of 0.36 g/t Au over 117 m, including notable intercepts 9.4 m of 1.26 g/t Au, four metres of 1.13 g/t Au and 1.5 m of 4.64 g/t Au.

“We are happy to get back to McKenzie and potentially build on the positive results of last year,” said Alex Klenman, president and chief executive officer. “With that initial drill program, we were able to not only replicate the higher-grade, narrow gold intercepts previously encountered in historical drilling, but we were also able to establish the presence of lengthier runs of near one-gram disseminated gold, which hadn’t been drilled there before. With two types of mineralization in the southern section of the property, it’s a compelling target area and one we’re eager to expand on,” continued Mr. Klenman.

Gold intercepts from the phase one program are shown in the attached table.

The company will be testing two styles of mineralization on the property, with a series of gold-bearing quartz veins encountered in holes MK-20-1-6, -9 and -10, and broader, disseminated gold mineralization occurring in the Dome stock in drill holes Mk-20-007 and 008. The company has once again contracted Rimini Exploration to operate the project and conduct the geological and technical logging as well as handling, splitting and sampling of the drill core.

Warren Robb, PGeo, vice-president, exploration, is the designated qualified person as defined by National Instrument 43-101 and is responsible for, and has approved, the technical information contained in this release.

About Nexus Gold Corp.

Nexus Gold is a Canadian-based gold exploration and development company with an extensive portfolio of 11 projects in Canada and West Africa. The company’s West-African-based portfolio totals five projects encompassing over 750 square kilometres of land located on active gold belts and proven mineralized trends, while it’s 100-per-cent-owned Canadian projects include the McKenzie gold project in Red Lake, Ont., the New Pilot project, located in British Columbia’s historic Bridge River mining camp, and four prospective gold and gold-copper projects (3,700 hectares) 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 portfolio.

We seek Safe Harbor.

https://nxs.gold/