EXPLORATION & DEVELOPMENT

Nexus looks for link

Company excited by elevated gold values in rock samples

Staff reporter

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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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