Nexus GOLD Drills 13.25 G/T Au over 2.75m, Including 36.2 G/T Au over 1m 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 DRILLS 13.25 g/t Au OVER 2.75m, INCLUDING 36.2 g/t Au OVER 1m AT
THE MCKENZIE GOLD PROJECT, RED LAKE, ONTARIO
Vancouver, Canada – August 18, 2020 – Nexus Gold Corp. (“Nexus” or the “Company”) (TSX-V: NXS,
OTCQB: NXXGF, FSE: N6E) is pleased to report it has received initial assay results from the first six holes
of the recently completed phase one drill program at the Company’s 100% owned McKenzie Gold
Project, located in Red Lake, Ontario.
This first round of drilling conducted in the St. Pauls Bay area was designed to test depth extensions of
surface rock sampling conducted by the company in June and November of 2019, and to test historic
drill intercepts encountered by the properties previous owners in 2001-2005.
Of the first six holes drilled (784 total meters), six returned elevated gold assays while the last three
holes MK2020-004, 005, and 006, all contained zones reporting visible gold. Significant gold results
were returned from hole MK 2020-006 which intersected a zone containing a blue gray quartz vein
and returned values of 13.25 grams-per-tonne (“g/t”) gold (“Au”) over 2.75 meters from 68.75 to 71.50
meters, which includes one meter of 36.20 g/t Au.
Drill holes MK-2020-005 and 006 were drilled from the same location and successfully intersected the
same blue grey vein in both holes, the vein was intersected at 44 meters in hole MK 2020-005 and at
69.5 meters in hole 006. Based on these findings the company decided to expand its drill program from
1000 meters to 2000 meters and continued drilling. Results from the remaining seven holes (MK-2020-
007 to 013), approximately 1,200 meters, are currently pending and expected later this month.
“We’re pleased with the progression of the results received from the first few holes,” said president
and CEO, Alex Klenman. “These initial holes produced similar results to historical drilling in the same
area, i.e. narrow intercepts of 1 to 7 g/t gold over various lengths between 1 and 4 meters. Holes 5
and 6 began showing greater concentrations of these types of intercepts, culminating with the best
result of 13 grams over almost 3 meters. Results were getting more interesting the further we got into
the drill program, so naturally we’re eager to see what the next batch of assays reveal and to see if we
can both extend intercept lengths, and continue to see additional significant mineralization,” continued
Mr. Klenman.
Hole ID UTM E UTM N DIP AZIMUTH ELEV FROM TO LENGTH
(METERS)
Au
G/T
MK-20-001 437729 5652199.7 -50 360 382 41.25 41.75 0.5 5.75
86 90 4 1.41
Including 89 90 1 4.30
MK-20-002 437601 5652153.5 -50 360 370 50.2 50.7 0.5 5.21
MK-20-003 437601 5652153.5 -65 360 370 107.5 108 0.5 1.82
MK-20-004 437651 5652138.7 -50 360 370 130 131 1 7.43 VG
MK-20-005 437684 5652197.3 -50 360 381 10 11 1 1.57
44 45 1 1.61 VG
46 47 1 3.42
93.9 94.4 0.5 5.27
100.5 107 1.5 1.07
MK-20-006 437684 5652197.3 -65 360 381 12.5 13.5 1 1.25
15.5 18 2.5 1.01
28 29 1 1.34
68.75 71.5 2.75 13.25
Including 69.5 70.5 1 36.20 VG
Table 1: Notable intercepts, initial six holes, 2020 maiden drill program, McKenzie Gold Project, Red
Lake, Ontario
“This is a really positive start, visible gold in core is always exciting,” said Vice President of Exploration,
Warren Robb. “Our efforts are to now try and define the nature and extent of this mineralization, and
to determine how these structures relate to the contact with the Dome stock and the Balmer
Assemblage volcanics,” continued Mr. Robb.
The initial phase one diamond drill program was intended to test the mineralization potential of several
gold targets occurring within an east-west trending corridor along the southern contact of the Dome
Stock occurring within volcanic rocks of the Balmer Assemblage.
Historic drilling conducted in 2005 along this corridor returned significant values, including 7.49 grams-
per-tonne (“g/t”) gold (“Au”) over 8.2 meters, 15.54 g/t Au over 0.8m (includes 13.08 g/t over 0.3m
and 17.02 over 0.5m), 4.47 g/t gold over 1.4m, and 2.15 g/t Au over 5.5m.
The initial drill program at McKenzie expanded upon 2005 drilling and to follow up on anomalous rock
samples that were collected as part of the 2019 fall prospecting program completed in the St. Paul’s
Bay area of the property. The prospecting program traced the mineralized contact corridor to the
property’s eastern boundary to further determine areas of interest on the property’s southern end.
The focus of the prospecting was concentrated in and around Perch Lake, in the Saint Paul’s Bay area,
located in the southernmost section of the property.
Figure 1: McKenzie Gold Project, Red Lake, Ontario, with phase one drill location in red
Figure 2: Phase one drill locations, McKenzie Gold Project, Red Lake, Ontario
About the McKenzie Gold Project
The 100%-owned McKenzie Gold Project is a 1,398.5-hectare high-grade gold prospect 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 having been drilled along a 600-meter strike in the southern portion of the
property (St. Paul’s Bay area).
As reported in a Company news release dated October 11, 2019, Nexus received a compilation
summary of important historic data from project geological consultants, Rimini Exploration. The
compilation integrated the regional geological and regional geophysical data, thus allowing the
Company's geological staff to compare these trends to the information obtained through ground
exploration conducted to date on the property. The more comprehensive data from the summary,
coupled with the new data from the phase two prospecting program, was utilized in determining
suitable areas to drill test.
The Rimini compilation summary produced historical data the Company was previously unaware of
regarding multiple historical grab samples taken on the McKenzie claim block. The Company had
previously disclosed several high-grade historical grab sample results 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
Nexus 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 release dated June 25, 2019).
Additional high-grade historical grab samples previously unknown to the Company and revealed in the
Rimini summary 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).
The data compilation summary also indicated that little to no exploration has been conducted over the
actual lake portion of the claim block. The Company has noted from the regional data that a number
of northerly trending geophysical trends extend within the lake itself and is viewing these trends as
potential faults or breaks within the Dome Stock.
Preliminary review of lake sediment sampling conducted on the property in 1989 indicates coincidental
anomalous gold geochemical values occurring. Historical values obtained from the analysis of +150
mesh screened lake sediment samples returned values of 0.159 ounce-per-ton (5.45 g/t) Au, 0.154
ounce per ton (5.28 g/t) Au, and 0.116 once per ton (3.98 g/t) Au. The Company intends to conduct
more exploration activity within the lake-bound portion of the project area to determine the
prospectivity of a large underexplored section of the property.
Options
The Company also announces that it has granted 1,000,000 incentive stock options to certain arms-
length consultants engaged by the Company, in accordance with the terms of its incentive stock
option plan. The options vest immediately and are exercisable at a price of $0.105 for a period of
thirty-six months.
* Note the 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
Warren Robb P.Geo., Vice President, Exploration, is the designated Qualified Person and has reviewed
and approved the technical information contained in this release. The historic drill 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 development company with an extensive portfolio of eleven
exploration projects in Canada and West Africa. The Company’s West African-based portfolio totals five
projects encompassing over 750-sq kms of land located on active gold belts and proven mineralized
trends, while it’s 100%-owned Canadian projects include the McKenzie Gold Project in Red Lake,
Ontario, the New Pilot Project, located in British Columbia's historic Bridge River Mining Camp, and
four prospective gold and gold-copper projects (3,700-ha) 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 growing portfolio.
For more information please visit nexus.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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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 discussed in
the management discussion and analysis section of our interim and most recent annual financial statement or
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