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Nexus Gold Corp. Signs Definitive Agreement to Earn Up to a 100% Interest in Gold Project in Burkina Faso, West Africa - Video News Alert on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - July 13, 2016) - Nexus Gold Corp. (TSXV: NXS), ...
About this update from Nexus Gold Corp.
[{"type":"text","content":"Nexus Gold Corp. Signs Definitive Agreement to Earn Up to a 100% Interest in Gold Project in Burkina Faso, West Africa - Video News Alert on InvestmentPitch.comVancouver, British Columbia--(Newsfile Corp. - July 13, 2016) - Nexus Gold Corp. (TSXV: NXS), has entered into a definitive agreement to earn up to a 100% interest in a gold project in Burkina Faso, West Africa. The 38.3 square kilometre Bouboulou Concession is located approximately 100 kilometres north/northwest of Ouagadougou, the capital city of Burkina Faso.InvestmentPitch.com has produced a \"video news alert\" which discusses this news. If this link is not enabled, please visit www.InvestmentPitch.com and enter \"Nexus\" in the search box. It is also available on YouTube (click here).Cannot view this video? Visit:http://www.investmentpitch.com/video/0_t12buk9y/Nexus-Gold-Corp-TSXV-NXS-entered-into-an-agreement-to-earn-100-interest-in-a-gold-project-in-Burkina-Faso-West-AfricaThe property is situated at the north end of the Boromo greenstone belt, which hosts numerous artisanal gold zones over its 120 kilometre length, plus the Bissa Mine operated by Norgold. To acquire the initial 75%, Nexus must pay US$500,000 and issue 900,000 shares over a period of 3 years. Nexus has the option to acquire the remaining 25% through a cash payment of US$1 million with a 1% net smelter royalty remaining with the optionor.The property has been worked on by Boliden, Riverstone Resources and Roxgold between 1997 and 2012. Exploration included Rotary Air Blast Drilling, trenching, geological mapping, Airborne EM, along with reverse circulation and diamond drilling. Highlights of the previous exploration programs include surface rock sampling and trenching returning gold grades from 1.09 to 19.16 grams per tonne, with 4 zones of gold mineralization already identified on the property.For more information on previous drill results, please refer to the July 11, 2016 news release by the company.Some of the world's most productive mines are located in West Africa's greenstone belts, which cover approximately 3 million square kilometres. Pro-mining Burkina Faso currently accounts for 21% of West Africa's greenstone belt exposure and is the fastest growing gold producer if Africa, and ranked 4th in the continent. Since 2013, there are 7 gold mines in production.The company is currently concent...