Nexus Gold samples up to 9.6 g/t Au at Manzour-Dayere

Feb 28, 2020

2020-02-27 12:02 ET – News Release

Mr. Alex Klenman reports

NEXUS GOLD RECEIVES EARLY SAMPLING RESULTS FROM NEWLY ACQUIRED MANZOUR-DAYERE GOLD PROJECT, BURKINA FASO, WEST AFRICA

Nexus Gold Corp. has released early sampling results from the 100-per-cent-owned Manzour-Dayere gold exploration permit, located 325 kilometres southwest of the capital city of Ouagadougou, Burkina Faso, West Africa.

Upon acquiring the 190.53-square-kilometre (19,053 hectares) concession (see company news release dated Feb. 4, 2020), company geologists began a comprehensive ground reconnaissance program to identify potential mineralized zones, and map active orpaillages (areas of artisanal mining activity).

Results of the first dozen grab samples have been received from an active artisanal zone in the northeast corner of the concession. Highlights of this initial round of sampling includes 9.60 grams per tonne gold, 7.07 g/t Au, 5.73 g/t Au, 3.84 g/t Au and 2.84 g/t Au. These new samples add to the historical data collected to date and will assist company geologists in determining potential exploration targets for future drilling.

The Manzour-Dayere concession is located along the Boromo greenstone belt, an early Proterozoic Birimian sequence of the West African craton, that is home to several significant gold deposits.

Recent historical exploration on the property conducted between 2011 and 2014 returned reported high-grade values of 132 g/t 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 main orpaillage in the extreme northeast corner of the property, while select grab samples of the sedimentary host rock returned values of 103 g/t Au and 21.40 g/t Au, respectively.

The workings on the main orpaillage are extensive and extend to depths of 60 to 80 metres below surface.

Situated in southwestern Burkina Faso, near the border with Ghana, the area is home to several producing mines, including Yaramoko (Roxgold), Hounde (Endeavour), Poura (Newmont), Bondi (Sarama) and Gaoua (B2Gold).

The company’s in-country geological team is presently compiling all available historical data, as well as conducting ongoing sampling and reconnaissance programs. With the addition of Manzour-Dayere, Nexus now controls over 750 square kilometres 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, PGeo, 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.

Debt settlement

The company also announces that it has reached an agreement with an arm’s-length creditor to settle outstanding indebtedness of $31,500 related to services previously provided to the company. The company intends to settle the indebtedness through the issuance of 630,000 common shares, at a deemed price of five cents per share.

All shares issued by the company in connection with the settlement will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities law. Completion of the settlement remains subject to the approval of the TSX Venture Exchange.

About Nexus Gold Corp.

Nexus Gold is a Canadian-based gold development company with an extensive portfolio of 10 exploration projects in West Africa and Canada.

We seek Safe Harbor.

https://nxs.gold/