EXPLORATION & DEVELOPMENT

Nexus looks for link

Nexus Gold (CN:NXS) says it is excited by elevated gold values in rock samples as it looks to establish a relationship between its newly-optioned Rakounga property and its neighbouring Bouboulou concession in Burkina Faso.

Staff reporter
 Nexus’ rock samples have shown elevated gold values

Nexus’ rock samples have shown elevated gold values

Assay highlights from samples collected at Rakounga included 19.95g/t gold and 14.9g/t gold 1km to the south.

"These three orpaillages appear to be occurring along the same trend as the Rawema-Pelatanga trend on the neighbouring Bouboulou property to the north-east," senior geologist Warren Robb said.

Nexus reported maiden drilling assays from Bouboulou earlier this month which included 1m at 23g/t gold within a broader 8.15m at 4.41g/t.

The Vancouver-based explorer is focused on its West African projects and has expanded its Bouboulou footprint 700% with the definitive agreement to earn into Rakounga, signed in August.

Nexus is earning 90% through staged payments of US$400,000 and 575,000 shares over three years and can then acquire the final 10% from Belemyida SA for $1 million cash and a 1% NSR royalty.

Shares in Nexus rose slightly intraday but closed unchanged at C$0.07, a return to its 52-week low after peaking at $0.37c in February.

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