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Nexus Gold to Expand Newfoundland Holdings Through Acquisition of Dorset Gold Project
(via TheNewswire) Vancouver, Canada - TheNewswire - March 12,...
About this update from Nexus Gold Corp.
[{"type":"text","content":"Nexus Gold to Expand Newfoundland Holdings Through Acquisition of Dorset Gold Project(via TheNewswire)\n \n \nVancouver, Canada - TheNewswire - March 12, 2020 - Nexus Gold Corp. (\"Nexus\" or the \"Company\") (TSXV:NXS) (OTCQB:NXXGF) (FSE:N6E) is pleased to announce that has entered into an agreement, dated effective March 6, 2020, with Union Gold Inc. and Margaret Duffitt (collectively, the \"Vendors\") pursuant to which the Company proposes to acquire the Dorset Gold Project. The Project consists of a series of mineral claims located in the Province of Newfoundland, south of the Pine Cove Gold Mine. \n\n \n \nThe Dorset Gold Project is a 275-hectare land package containing multiple gold occurrences and mineralized zones. The Main Zone includes three historic occurrences, with up to 409 grams-per-tonne (\"g/t\") gold (\"Au\") in grab samples, with channel sampling results of 177 g/t Au over .35m, 22 g/t Au over 1.5m, 17.2 g/t Au over 1.5m, and 14.7 g/t Au over 1.5m. Historic drilling includes DDH 87-1 which intersected 9.5 g/t Au over 1.3m (MacDougall, 1990). * The reported drill intercept is an intersected length and is not a true width.\n\n\n \nHistoric select sampling at the Braz Zone returned values of 314 g/t Au, 40 g/t Au, 31.4 g/t Au, 21.2 g/t Au, 19.2 g/t Au, and 14.8 g/t Au. Historic channel sampling across the vein, returned 9.5 g/t Au over 0.4m; 5.7 g/t Au over 0.5m and 1.2 g/t Au over 0.65m. Weighted averages of historic rock sampling encompassing vein and mineralized wall rock returned values of 5.8 g/t Au over 1.9m; 3.1 g/t Au over 2.0m and 2.5 g/t Au over 1.5m (MacDougall, 1990).\n\n\n \nOther zones include the Albatross, where historic rock sampling of mineralized zones returned values up to 9.6 g/t Au and locally up to 30.3 g/t Au. Assay results from three 1987 diamond drill holes include 1.0 g/t over 7.3m, 1.81 g/t over 4.3m and 1.02 g/t over 2.2m; the Phoenix Zone where grabs of altered gabbro assayed up to 5.8 g/t Au, 5.5 g/t Au, and 3.3 g/t Au and diamond drill hole intersection of 1.07 g/t Au over 5.45m; and the Gunshot Zone, where veins contain visible gold and pyrite, returned grab samples collected from the veins have assayed up to 162 g/t Au and channel samples have assayed up to 18.0 g/t Au over 0.4m (MacDougall, 1989). * The reported drill intercept is an intersected length and is not a true width.\n...