Nexus GOLD Updates Drill Plans at 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 UPDATES DRILL PLANS AT MCKENZIE GOLD PROJECT,
RED LAKE, ONTARIO
Vancouver, Canada – February 25, 2020 - Nexus Gold Corp. (“Nexus” or the “Company”) (TSX-V: NXS,
OTCQB: NXXGF, FSE: N6E) is pleased to update shareholders on the upcoming drill campaign at the
100%-owned McKenzie Gold Project, located in Red Lake, Ontario.
The drill permitting process has been underway and is anticipated to conclude shortly. Upon
confirmation that permits have been received the Company will commence a phase one, minimum
1000-meter, diamond drill program to test the mineralization potential of a corridor occurring along
the southern contact of the Dome Stock with felsic Volcanics of the Balmer Assemblage.
Historic drilling conducted in 2005 along this corridor in the St. Paul’s area returned significant values,
including 7.49 grams-per-tonne (“g/t”) gold (“Au”) over 8.2 meters, 15.54 g/t Au over .8 meter (includes
23.4 g/t over 0.3 meter), 4.47 g/t gold over 1.4 meters, 17.02 g/t Au over .5 meter, 23.87 g/t Au over
.2 meter, and 2.1 g/t Au over 5.5 meters* (see figure 2).
The upcoming drill program is designed to test anomalous rock samples that were collected as part of
the 2019 fall prospecting program completed by Rimini Exploration 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, and to continue pre-
drill phase data compilation to help determine initial drill targets. 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 1,348.5-hectare property.
Figure 1: McKenzie Gold Project, Red Lake, Ontario, with area for upcoming drill program circled in red
“We’re eager to get our first drill program at McKenzie underway,” said president and CEO, Alex
Klenman. “Prior work by other operators at McKenzie has produced some compelling results, both
through sampling and through limited drilling. There have been some high-grade intercepts in the
southern portion of the property, so we’d like to follow up and see if we can replicate or improve those
numbers. We’re going to go in and beginning testing the southern most target area now and work our
way north with subsequent drilling later in the year. It’s a target rich property and we intend to drill
test several zones over the coming months,” continued Mr. Klenman.
The Company anticipates permitting to be completed in the coming weeks and drilling to begin shortly
thereafter. Updates will be provided throughout the process.
Figure 2: Historic drill results in the southern section of the McKenzie Gold Project, Red Lake, Ontario
The southern portion of the McKenzie Gold Project is bordered by Premier Gold Mines Ltd Hasaga
property and Pure Gold Mining’s Madsen Gold property.
* Note the reported lengths are intercepts and are not true widths
Warren Robb P.Geo., 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.
Compilation Summary – McKenzie Gold Project
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 Rimini 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 now 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.
Correction
Total fees paid on the recent financing amounted to $74,803 and 1,438,045 warrants. They were
incorrectly stated on the Company’s January 31, 2020, news release.
About the Company
Nexus Gold is a Canadian-based gold development company with an extensive portfolio of ten
exploration projects in West Africa and Canada. The Company’s West African-based portfolio totals
over 750-sq kms (75,000+ hectares) 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
three prospective gold-copper projects (3,300-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 www.nexusgoldcorp.com.
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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