Nexus Gold Signs Definitive Agreement to Acquire Bouboulou Concession, Burkina Faso, West Africa

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[{"type":"text","content":"Nexus Gold Signs Definitive Agreement to Acquire Bouboulou Concession, Burkina Faso, West Africa(via Thenewswire.ca)\n\n \nN\n\n\n \nVancouver, Canada / TheNewswire / July 11, 2016 - Nexus Gold Corp. (\"Nexus\" or the \"Company\") (TSX-V: NXS) is pleased to announce it has entered into a definitive agreement with Bureau D'Etudes des Geosciences et de L'Environnement (the \"Optionor\"), pursuant to which Nexus will acquire the right to earn up to 100% interest in the Bouboulou Exploration Permit located in Burkina Faso, West Africa (the \"Bouboulou Concession\" or \"Property\").\n\n\n \nNexus will have an option to acquire up to 75% interest in the Property, in consideration for cash payments of US$500,000 and the issuance of 900,000 common shares of Nexus, over a period of three years. Following the acquisition of a 75% interest in the Property, Nexus will have the option to acquire the remaining 25% interest in the Property through a cash payment of US$1,000,000 with a 1% net smelter return royalty remaining with the Optionor.\n\n\n \nHistorical Data\n\n\n \nThe Bouboulou Concession covers an area of 38.3 square kilometers and is located approximately 100 kilometers north by northwest of the capital city of Ouagadougou, Burkina Faso. Exploration on the permit area has been conducted by Boliden (1997 - 1999), Riverstone Resources (2005- 2011) and Roxgold (2011 to 2012). Exploration has consisted of Rotary Air Blast Drilling, trenching, geological mapping, Airborne EM and magnetometer and Radiometrics and reverse circulation and diamond drilling.\n\n\n \nHighlights of the previous exploration programs include; surface rock sampling and trenching returning gold grades from 1.09 to 19.16 g/t gold. Four zones of gold mineralization have been identified on the Property termed Koala, Rawema, Bouboulou 2 and Pelgtanga. \n\n\n \nSignificant Reverse Circulation drilling results include:\n\n \n\nHole\n\n\n\n\nAzimuth\n\n\n\n\ndip\n\n\n\n\ndepth (m)\n\n\n\n\nFrom\n\n\n\n\nTo\n\n\n\n\n(metres)\n\n\n\n\n(g/t Au)\n\n\n\n\nZone\n\n\n\n\nBBL-11-RC-006\n\n\n\n\n120\n\n\n\n\n-67\n\n\n\n\n115\n\n\n\n\n70\n\n\n\n\n110\n\n\n\n\n40\n\n\n\n\n1.548\n\n\n\n\nBouboulou2\n\n\n \n \n \n\n\nincludes\n\n\n\n\n70\n\n\n\n\n90\n\n\n\n\n20\n\n\n\n\n2.255\n\n\n \n \n \n \n\n\nand \n\n\n\n\n100\n\n\n\n\n110\n\n\n\n\n10\n\n\n\n\n1.422\n\n\n \n\n\nBBL-11-RC-013\n\n\...

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