VANCOUVER, BC / CRWEPRESSRELEASE / August 5, 2015 / Nexus Gold Corp. (“Nexus” or the “Company”) (CVE:NXS) is pleased to report that diamond drilling is underway on its Walker Ridge Gold Project inthe Jerritt Canyon-Independence Trend, Nevada, USA.
The Company plans to initially drill 3000 meters of high priority Carlin-type targets. Dr. Douglas Oliver, VP of Exploration stated “Our high priority targets are located in two of the eight Vital GeoSURVEY Clusters as identified in our 2014 element detection survey.” Dr. Oliver continued, “These clusters all possessed a signature response from the targeted element and are coincidental to geochemical, CSAMT and gravity anomalies. Lastly, the fact that the clusters are radially arranged around our confirmed ‘Carlin-type’ intrusive make these first targets excellent choices.”
Walker Ridge Gold Project
The Walker Ridge Gold Project is located directly between and adjacent to both the Jerritt Canyon mine & mill complex, and the Big Springs deposit. A 3200 x 3200 meter (2 sq. miles) bull’s-eye of highly-anomalous, geochemically defined pathfinder elements (antimony, arsenic, mercury) exists within the claim block, coincident to geophysical anomalies both in gravity and resistivity. A Carlin-age (Eocene) intrusion, as verified through uranium-lead radiometric age dating (35.9m years) has been discovered on the property at the center of the geochemical/geophysical anomalies.
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 primarily in the oil and gas sector for the past five years, 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 these 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. 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. For more information on the Walker Ridge Gold Project, including specific survey results, please visit the company website at www.nexusgoldcorp.com.
The technical content of this release was reviewed and approved by Warren Robb P.Geo a Qualified Person under NI 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
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SOURCE:Nexus Gold Corp.