VANCOUVER, BC / CRWEPRESSRELEASE / July 30, 2015 / Nexus Gold Corp. (“Nexus” or the “Company”) (CVE:NXS) is pleased to announce it has mobilized a diamond drill rig to begin testing its high priority targets on its Walker Ridge gold property located on 4600 acres in the Independence/Jerritt Canyon Gold Trend, Nevada, USA.
“Over the last two weeks we have upgraded the road access to the property and prepped the drill pad locations,” President and CEO Peter Berdusco commented. “These will be the first lower plate targets ever tested at Walker Ridge. They have all the necessary precursors you’d look for when identifying Carlin-type targets in northeast Nevada. The work we’ve done to date, combined with the element detection survey results from last fall, makes this upcoming drill program very compelling.”
These high priority targets are coincidental to anomalous mercury and antimony geochemical results as well as CSAMT and gravity geophysical anomalies identified through the Company’s prior work programs. In addition, these first targets fall within the northern flank of Vital GeoSurvey’s cluster # 3 as identified by the element detection survey conducted on the property last fall. Walker Ridge is located between the Jerritt Canyon mine and mill complex to the south, and the Big Springs deposit to the north.
In the fall of 2014, the Company employed Vital GeoSURVEYS Ltd to perform a geophysical survey utilizing a leading-edge element detection technology. Prior to the survey on Walker Ridge, the technology had been used in the past five years primarily in the oil and gas sector accumulating a track record of success. The proprietary nature of the innovative technology allows for the in situ detection and the mapping of signals specific to the targeted element. In the case of Walker Ridge, the targeted element is gold (Au). In application, the technology deploys energy and if the target element is present a signature response is detected. The strength of these signature responses is measured and catalogued as “Points of Interest”.
The fall 2014 survey identified 38 Points of Interest occurring in eight clusters over approximately a two-square mile area within the Company’s claim block. Seven of the clusters are coincidental to data sets identified through the Company’s previous work programs on the property: anomalous mercury and antimony geochemical levels, a prominent gravity geophysical low coincident to the surface mercury anomaly, and an electromagnetic/magnetotelluric resistivity low/high. All clusters are radially arranged around an Eocene “Carlin-Age” intrusive discovered on the property and confirmed through uranium-lead radiometric age dating. The results of the survey, particularly when applied to the existing data sets, potentially reduces the risks and costs normally associated exploration drilling programs.
About the Company
Nexus Gold Corp. is a Vancouver-based mineral exploration company that develops precious metal mineral assets in the world’s premier mining and exploration districts. The company is currently concentrating its exploration efforts on the Walker Ridge Gold Project, a drill-ready, multiple-target, Carlin-type gold exploration project located in the Independence/Jerritt Canyon Gold Trend, Nevada, USA.
The technical contents of this release was reviewed and approved by Warren Robb P.Geo a Qualified Person under 43-101.
On behalf of the Board of Directors of
NEXUS GOLD CORP.
President and Chief Executive Officer
Suite 720 – 700 West Pender Street
Vancouver, BC V6C 1G8
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
SOURCE: Nexus Gold Corp.