Nexus GOLD Expands Dakouli 2 GOLD Concession, Burkina Faso, WEST Africa
NEXUS GOLD CORP.
Suite 802, 750 West Pender Street
Vancouver, BC V6C 2T8
604-558-1919
NEWS RELEASE
NEXUS GOLD EXPANDS DAKOULI 2 GOLD CONCESSION,
BURKINA FASO, WEST AFRICA
Vancouver, Canada – December 7, 2021 - Nexus Gold Corp. (“Nexus” or the “Company”) (TSX-V: NXS,
OTCQB: NXXGF, FSE: N6E) is pleased to report that it has received confirmation from the Government
of Burkina Faso’s Ministre de L’Energie des Mines et Les Carriers that its application for expanding the
Dakouli 2 permit has been approved.
The expansion of the Dakouli 2 project has resulted in the exploration permit being expanded by 1.39
square kilometers. The expansion extends the permit coverage westward from its original
configuration and now encompasses areas first identified in 2013 where previous explorers collected
rock grab samples retuning results of 1.75 grams-per-tonne (“g/t”) gold (”Au”), 2.14 g/t Au and 2.32
g/t Au. These rock samples are described as white quartz veins hosted in red granite.
Subsequent to the rock sampling a program of Aircore and Reverse Circulation (“RC”) drilling was used
to investigate the area. The drill program consisted of four RC holes for 430m (PNRC001-003,009) and
12 AC holes for 250m (PNAC001-012).
The best reported results from this drilling are 12 meters of 1.01 g/t from hole PNRC001, and 36m of
0.51 g/t in hole PNRC003. Reported Drilling described that the main gold mineralization is associated
with a fine-grained syenite dyke with sulphide and quartz veining up to 14m thick. It’s interpreted that
this dyke is striking to the north east and dipping to the south.
Drilling to Date at Dakouli
In late 2020 the Company conducted a Reverse Circulation (“RC”) drill program at the 98 -sq kms
concession consist ing of 2,914 meters of exploratory drilling. The first-ever drill program on the
property was designed to test several areas that have returne d either high gold values from rock
samples or coincidental soil geochemical and geophysical anomalies proximal to artisanal workings
(“orpaillages”).
Significant results were encountered in several holes, including:
DKL-20-RC-007
- 4.83 grams-per-tonne (“g/t”) gold (“Au”) over 20 meters
- Including 14.51 g/t Au over 6m
- And 39.6 g/t over 2m
DKL-20-RC-009
- 1.61 g/t Au over 10m
- Including 4.11 g/t Au over 2m
DKL-20-RC-010
- 1.89 g/t Au over 8m
- Including 6.54 g/t Au over 2m
In addition, several holes returned lengthy intercepts of sub -one gram gold, including DKL -20-RC-006
which returned .59 g/t Au over 18 meters, DKL-20-RC-017, which returned .91 g/t Au over 10m, and
DKL-20-RC-002 which returned .64 g/t Au over 16 meters.
In the summer of 2021, the Company returned to Dakouli to conduct a 2000m follow up Diamond Drill
program. Results from this program expanded upon the earlier RC drill results with several significant
intercepts:
DKL-21-DD-001
- 0.95 g/t Au over 23m
- Including 1.01 g/t Au over 15m
- 1.46 g/t Au over 7m
- Including 4.87 g/t Au over 1m and 6.88 g/t Au over 1m
DKL-21-DD-002
- 1.90 g/t Au over 28m
- Including 10.87 g/t Au over 4m
- Including 15.1 g/t Au over 1m, and 17 g/t Au over 1m
- 1.43 g/t Au over 10m
- Including 10.6 g/t Au over 1m
DKL-21-DD-008
- 0.86 g/t over 17m
- Including 1.18 g/t Au over 12m and 2.19 g/t Au over 6m
Drilling has so far primarily been confined to a small section in the upper northeastern portion of the
concession ground.
Image 1: Location of Dakouli 2 project, Goren Greenstone Belt, Burkina Faso, West Africa
Image 2: Bisecting Sabce faults (red) and artisanal zones, Dakouli 2 project, Burkina Faso, West Africa
About the Dakouli 2 Gold Concession
The Dakouli 2 exploration permit is a nearly 100-sq km ( 10,000 hectares) gold exploration property
located approximately 100 kilometers due north of the capital city Ouagadougou. Situated on the
Goren greenstone belt , Dakouli is proximal to Nordgold’s Bissa Mine, and is bisected by the gold-
bearing Sabce shear zone.
In late 2018 Company geologists conducted a comprehensive g round reconnaissance program to the
west and south of the main orpaillage (artisanal zone) and identified new near surface workings being
exploited by artisanal miners. Rock samples collected from these new zones contained various
concentrations of visible gold, including coarse nuggety samples.
Follow up work outlined an anomalous zone extending some 500 meters west from the sample zones.
Based on those results the Company initiated a 150-line kilometer soil geochemical survey covering the
northern half of the Dakouli 2 property. This survey identified three prominent gold geochemical
trends.
The primary gold trend parallels the Sabce fault zone and extends for approximately 10 kilometers in a
northeast-southwest direction and bisects the property from the northeast corner of the property to
its western boundary. The Sabce fault hosts multiple deposits including Nordgold’s 3.4M oz Bissa Mine,
located approximately 25km east of the Dakouli ground.
Two secondary gold trends which extend for approximately 6.5 kilometers each are oriented in a
northwest to southeast direction and bisect the primary trend. All three gold geochemical trends are
coincidental to geophysical trends identified from the national regional airborne geophysics.
* Please note that while the Company considers sampling and reporting results from the new
portions of the exploration permit 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.
Private Placement Closed
The Company also reports that it completed a non-brokered private placement (the “Offering”) for gross
proceeds of $530,000. In connection with closing of the Offering, the Company has issued 5,000,000 flow-
through units (each, an “FT Unit”) and 5,600,000 non-flow-through units (each, an “NFT Unit”). Each “FT Unit”
and “NFT Unit” was issued at a price of $0.05 and consists of one common share of the Company and one
common share purchase warrant exercisable at price of $0.07 until December 1, 2024.
The gross proceeds from the Offering will be used for further project development work, for general working
capital purposes and to finance Canadian exploration expenses (within the meaning of the Income Tax Act
(Canada)) which shall qualify as "flow-through mining expenditures" for the purposes of the Income Tax Act
(Canada).
All securities issued in connection with the Offering are subject to a statutory hold period until April 2, 2022 in
accordance with applicable securities laws. No finders’ fees or commissions were paid in connection with
completion of the Offering.
The Company also clarifies that the 16,109,450 common share purchase warrants issued in connection with a
non-brokered private placement completed by the Company on June 28, 2021, are exercisable until June 28,
2026, and not as otherwise noted. For further information concerning the private placement, readers are
encouraged to review the Company’s news release of June 25, 2021.
Warren Robb P.Geo., 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 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,
~100-sq km Dakouli 2 Gold Concession in Burkina Faso, West Africa, and the 1400-ha McKenzie Gold
Project, located in Red Lake, Ontario. The Company is concentrating 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 discussed in
the management discussion and analysis section of our interim and most recent annual financial statement or
other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do
not assume any obligation to update any forward-looking statements, except as required by applicable laws.