Nexus GOLD Completes Winter Drill Program at the Mckenzie GOLD Project, Red Lake, Ontario
NEXUS GOLD CORP.
Suite 802, 750 West Pender Street
Vancouver, BC, V6C 2T8
604-558-1919
NEWS RELEASE
NEXUS GOLD COMPLETES WINTER DRILL PROGRAM AT
THE MCKENZIE GOLD PROJECT, RED LAKE, ONTARIO
Vancouver, Canada – December 1, 2021 – Nexus Gold Corp. (“Nexus” or the “Company”) (TSX-V: NXS,
OTCQB: NXXGF, FSE: N6E) is pleased to report that it has completed its second round of phase two
diamond drilling on its 100% owned McKenzie Project located at Red Lake, Ontario.
This secon d round of drilling was designed to test gold anomalies occurring in and around historic
trenches identified earlier in the fall by prospecting teams employed by the Company. The program
was also testing the potential strike extension of mineralization id entified in the first round of phase
two drilling in the spring of this year. The program consisted of eight drill holes totaling 2000 meters
a summary of the holes is tabled below:
Hole ID Easting Northing Elevation Azimuth Dip Actual
Length
MK-21-023 437725 5653016 366 240 -45 261
MK-21-024 437725 5652960 360 300 -45 237
MK-21-025 437608 5652969 362 130 -45 99
MK-21-026 437608 5652980 362 190 -50 95
MK-21-027 437718 5652792 360 195 -45 318
MK-21-028 437718 5652792 360 230 -45 347
MK-21-029 437725 5652342 380 290 -70 315
MK-21-030 437725 5652342 380 350 -50 328
All drill holes were collared in the Dome Stock and successfully cored through granitic rock displaying
zones of potassic (“K”) alteration with zones of silica and sericitic alteration; sulphide mineralization
consisting primarily of pyrite with lesser chalcopyrite; and occasional molybdenite and sphalerite
hosted in quartz carbonate stringers and veins, which was reported occurring in both alteration styles
but in greater amounts in the siliceous sericitically altered granite.
“The speed and efficiency of the FullForce drill team kept everyone on their toes for this round of
drilling,” said Warren Robb, VP of Exploration. “Given the style and intensity of the mineralization we
encountered in this round of drilling this will certainly aid us immensely in understanding the structural
framework of the gold deposition at McKenzie. This is an exciting property where earlier holes in 2021
gave us significant intercepts of length and grade. We’re eager to see results from the new target
areas,” continued Mr. Robb.
Drill core is logged and sampled in a secure core storage facility located in Red Lake , Ontario. Core
samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation
Laboratories in Ontario, an accredited independent mineral analysis laboratory, for analysis. All
samples are analyzed for gold using standard Fire Assay -AA techniques. Certified gold reference
standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Nexus’s
quality control/quality assurance program (QA/QC).
Assay results will be released once received, reviewed, and verified by the Company’s Qualified Person.
Drilling at McKenzie Gold Project
The just completed 2000-meter drill program commenced with the first hole being drilled to test the
northern extent of gold mineralization identified by earlier drilling conducted by the Company in April
2021 which included holes MK-21-018 and MK-21-019, both of which returned significant gold
intercepts (see Company news releases dated May 25 and June 1, 2021), and to test gold mineralization
recently identified during a fall targeting and prospecting program conducted north of Perch Lake.
Selective grab samples obtained during the fall program have now returned gold assays of ^13.40
grams-per-tonne (“g/t”) gold (“Au”), 7.70 g/t Au, 6.83 g/t Au, 3.54 g/t Au, and 3.51 g/t Au, respectively,
confirming mineralization in this new area.
Three historical trenches and a new showing were also identified during the prospecting program (see
image 1). The trenches are comprised of quartz veins containing clots and patches of semi massive
chalcopyrite, pyrite and molybdenite. The veins are hosted in granite which displays strong pervasive
silica flooding. Local discrete shearing in both trenches trend at approximate attitudes of 330° and dip
70° to 80° to the east, displaying similar trends and lithologies established in the Company’s previous
drill campaigns.
This second round of diamond drilling was pursued to expand on the results obtained in the Company’s
previous drill programs. These programs outlined a broad zone of gold mineralization in the St. Paul’s
Bay area, located in the southernmost section of the claim block below Perch Lake (see Image 1).
Significant results from these drill programs include:
- MK-20-RC-006: 2.75m of 13.25 grams -per-tonne (“g/t”) gold (“Au”) , including 1m of 36.20 g/t
Au (68.75m to 70.5m)
- MK-20-RC-008: 55.5m of 1 g/t Au (67.5m to 123m), including 16m of 1.42 g/t Au, 6m of 2.37 g/t
Au, and 9m of 1.14 g/t Au
- MK-21-DD-018: 56m of 1.01 g/t Au (13m to 69m), including 21.5m of 1.84 g/t Au, 10m of 3.30
g/t Au, and 1m of 23.1 g/t Au. Other intercepts included 37.6m of 2.78 g/t Au (77m to 115m),
including 24.7m of 4.05 g/t Au, 14m of 7.01 g/t Au, and 1m of 94.2 g/t Au.
- The entire length of MK-21-DD-018 averaged .99 g/t Au over 198m.
- MK-21-DD-019: 136m of 1.25 g/t Au (148m to 285m), including 44.9m of 3.00 g/t Au, 15.5m of
5.25 g/t Au, 29.4m of 1.82 g/t Au, and 6m of 5.45 g/t Au. High-grade intercepts included 1m of
59.8 g/t Au, 1m of 15.5 g/t Au, and 1m of 26.7 g/t Au.
- Hole MK-21-DD-19 ended in mineralization at 285 meters, with an average grade of the hole
returning .74 g/t Au over 283.4m.
See Company news releases, September 3, 2020, May 25, 2021, and June 1, 2021, for more details on
previous diamond drill programs.
All reported holes were drilled entirely in a granitic rock of the Dome stock and displayed patchy
moderate-to-strong silica alteration. Silica altered intervals are typically associated with high density
micro-fracturing and increased molybdenite and chalcopyrite mineralization. Fine-grained fluorescent
scheelite was also observed. The granite was strongly magne tic, containing 2 -3% fine -grained
disseminated magnetite.
Image 1: New sample locations, new showings (red) and historical trenches, north side of Perch Lake, with 2020-
2021 drill locations to the south, McKenzie Gold Project, Red Lake, ON
Figure 2: McKenzie Gold Project, Red Lake, Ontario, with nearby advanced prospects, producers, and past producers
About the McKenzie Gold Project
The 100%-owned McKenzie Gold Project is an approximately 1,400 -hectare gold exploration project
located in the heart of the historic Red Lake gold camp, in western Ontario, Canada. Areas of high-
grade gold mineralization have been established within the northern portion of the claim block
(McKenzie Island) , with significant gold values hav ing been drilled along a 600-meter strike in the
southern portion of the property (St. Paul’s Bay area).
Numerous high-grade historical samples^ have been recovered on the property, including 331.14 g/t
Au, 18.02 g/t Au, 212.8 g/t Au, 313 g/t Au, 18.02 g/t Au and 9.37 g/t Au. In the summer of 2019, the
Company conducted it's first ground reconnaissance program at McKenzie and results returned notable
sample assays, including 135.4 g/t Au and 9.3 g/t Au (see Company news releases dated June 25, 2019,
and October 11, 2019).
Additional high-grade historical grab samples^ previously unknown to the Company and revealed in a
report supplied by Rimini Exploration include several high-grade assays, including 142.49 g/t Au, 115.2
g/t Au, 114.57 g/t Au, 93.71 g/t Au, 68.03 g/t Au, 53.01 g/t Au, and 16.65 g/t Au from areas located on
McKenzie Island (north block) (see Company news release dated October 11, 2019).
Significant results from the Co mpany’s initial drill program in August 2020 include hole MK -20-006
which returned 2.75 meters of 13.25 g/t Au, including 1m of 36.2 g/t Au; hole MK -20-007 which
returned 117.4m of 0.33 g/t Aum including 9.4m of 1.26 g/t Au, and 1.5m of 4.64 g/t Au; and hole MK-
20-007, which returned 117.5m of .62 g/t Au, including 55.5m of 1.00 g/t Au, which included 16m of
1.42 g/t Au (including 6m of 2.37 g/t Au and 2m of 4.28 g/t Au), and 9m of 1.14 g/t Au. See the Company
website – www.nxs.gold – for the complete McKenzie project drill table.
Results from the Company’s initial summer 2020 drill program returned values similar to historic drilling
in the area, which have been typically higher-grade intercepts over narrow widths (i.e., 0.5m to 1m of
> 5 g/t Au). In addition, holes 007 and 008 identified a second style of gold mineralization on the
McKenzie property . T hese lengthy (> 100m) disseminated, sub and near one -gram gold intercepts
more closel y resemble the type of mineralization being explored at the Hasaga Project , located
approximately 5kms to the south-east of the McKenzie project ground.
The Hasaga property is host to the past -producing Hasaga and Gold Shore Mines and is strategically
located proximal to the Balmer -Confederation regional unconformity, recognized as an important
geologic feature at the multi -million ounce past and currently producing Red Lake area mines. The
deposits on the Hasaga Project are estimated as hosting an Indic ated mineral resource of 42.294
million tonnes at a grade of 0.83 g/t gold representing 1,123,900 ounces of gold*.
* Reported lengths are intercepts and are not true widths
^ Grab samples are selected samples and are not necessarily representative of mineralization hosted on the
property. All samples were sent to Activation Laboratories in Ontario, an accredited mineral analysis
laboratory, for analysis.
Drill core is logged and sampled in a secure core storage facility located in Re d Lake Ontario. Core
samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation
Laboratories in Ontario, an accredited mineral analysis laboratory, for analysis. All samples are
analyzed for gold using standard Fire Assay-AA techniques. Certified gold reference standards, blanks
and field duplicates are routinely inserted into the sample stream, as part of Nexus’s quality
control/quality assurance program (QA/QC). No QA/QC issues were noted with the results reporte d
herein.
* HASAGA PROJECT RED LAKE MINING DISTRICT, ONTARIO, CANADA NTS MAP SHEETS 52K/13 AND 52N/04 by
Vincent Jourdain (Ph.D., P.Eng.), John Langton (M.Sc., P. Geo.) & Abderrazak Ladidi (P.Geo.) dated February 24th,
2017).
Warren Robb P.Geo., Vice President, Exploration, is the designated Qualified Person and has reviewed
and approved the technical information contained in this release. Any historic drill and sample data
contained in this release was verified by the QP by comparing reported assay data with Certificates of
Analysis documented. The QP has verified mineral showings and areas of select sampling and the collars
of reported historic drill hole locations. It is the QP’s opinion that the data as presented is adequate
and can be relied upon for use in this press release.
About the Company
Nexus Gold is a Canadian -based gold exploration and development company with an extensive
portfolio of projects in Canada and West Africa. The Company’s primary focus is on its 100% -owned,
98-sq km Dakouli 2 Gold Concession in Burkina Faso, West Africa, an d the approximately 1400 -ha
McKenzie Gold Project, located in Red Lake, Ontario. The Company is focusing on the development of
its core assets while seeking joint -venture, earn-in, and strategic partnerships for other projects in its
portfolio.
For more information, please visit nxs.gold
On behalf of the Board of Directors of
NEXUS GOLD CORP.
Alex Klenman
President & CEO
604-558-1920
www.nexusgoldcorp.com
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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 di scussed in
the management discussion and analysis section of our interim and most recent annual financial statement or
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