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Nexus Gold to Acquire the New Pilot Gold Project, Bridge River Mining Camp, British Columbia
(via TheNewswire) Vancouver, Canada / TheNewswire / November ...
About this update from Nexus Gold Corp.
[{"type":"text","content":"Nexus Gold to Acquire the New Pilot Gold Project, Bridge River Mining Camp, British Columbia(via TheNewswire)\n \n \nVancouver, Canada / TheNewswire / November 15, 2018 - Nexus Gold Corp. (\"Nexus\" or the \"Company\") (TSX-V: NXS, OTCQB: NXXGF, FSE: N6E) is pleased to announce that it has entered into a mineral property acquisition agreement, dated effective November 15, 2018, with Warren Robb (the \"Vendor\"), pursuant to which it will acquire the New Pilot Project (the \"Project\"). In consideration for the Project, the Company will issue 3,500,000 common shares (the \"Consideration Shares\").\n\n \n \nProject Details\n\n \n \nThe Project is a gold-copper exploration property located in the Bridge River Mining Camp, approximately 180 kilometers north of Vancouver, or 10.5 kilometres west of the village of Gold Bridge, British Columbia. The 509-hectare (1,257 acre) property is accessible by paved road and has been the subject of historical exploration.\n\n\n \nBetween 1992 to 1994 Cogema Canada Ltd conducted detailed prospecting and sampling. 99 grab samples were taken in three areas (A, B, C in Figure 2), with three returning values in excess of 100 grams-per-tonne (\"g/t\") gold (\"Au\"), including 102 g/t Au, 106 g/t Au with visible gold, and 111 g/t Au; three returning values in excess of 10 g/t Au (17 g/t Au, 21 g/t Au, 33 g/t Au); and 14 others returning values in excess of 1 g/t Au.\n\n\n \nIn addition, 59 soil samples, 229 rock samples, and 66 core samples from a small 108-meter diamond drill program were also obtained. Significant results obtained included chip samples of 4.03 g/t Au over 10 meters, and 1 g/t Au over 10.5 meters in drill core. \n\n\n \nThe rock sampling identified three areas of elevated bedrock gold values within intrusive rocks: Area A, averaging 228 ppb, Area B, averaging 378 ppb and Area C, averaging 752 ppb. Highlights from the 108 five-metre chip samples included: 1470 ppb and 1092 ppb in Area A, 3702 ppb in Area B, and 6425 ppb and 1896 ppb in Area C. The higher values are associated with rusty fracture coatings containing sulfides. \n\n\n \nThree styles of mineralization have been identified on the Project: siliceous fractures containing sulphides, carbonate altered shears, and quartz veins containing arsenopyrite. \n\n\n \nThe Project location is situated at the contact of the Coast Crystalli...