GOLD EXPLORATION The current work programme at Niangouela has assisted the company in understanding and streamlining its exploration efforts in Burkina Faso
The Phase 1 diamond drill programme at the Niangouela gold project, in Burkina Faso, has been expanded by an additional 1 km to test the primary quartz vein and associated shear zone at depth and along strike.
Vancouver-based gold exploration and development company Nexus Gold Corporation originally planned a 1 km Phase 1 diamond drill programme on its 178 km2 Niangouela concession.
The initial programme targets areas of gold anomalies identified from rock samples and rotary air blast drilling that was conducted by the company in December 2016 and January.
“Early work is progressing extremely well at Niangouela; we are very pleased with what we are seeing on the ground. Additionally, we are still discovering the size and scope of the primary quartz vein and the shear zone. It’s a large concession with a lot of artisanal activity. We have a lot of ground to cover,” says senior geologist Warren Robb.
“Now that we have established a base of operations and have crews up and running, we will begin to initiate work at the Bouboulou concession. Our plan is to drill both properties over the coming months with the goal of establishing the extent of mineralisation at both sites.”
The current work programme at Niangouela has assisted the company in understanding and streamlining its exploration efforts in Burkina Faso.
The company’s operation is based outside the city of Yako, which will also serve as its base for the upcoming diamond drill programme on the Bouboulou property, 6 km south of Yako.
The objective of the programme is to further define and understand the characteristics of the four mineralised zones on the property, namely Koala, Rawema, Bouboulou 2 and Pelgtanga.
The initial phase of the diamond drill programme is expected to begin shortly, Nexus said in a March 16 release.
Nexus has also completed a nonbrokered private placement of about 16-million units in the capital of the company at a price of 12c a unit for gross proceeds of $2-million.
Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant.
Each warrant entitles the holder to buy one additional share at a price of 18c until February 23, 2019.
Nexus president and CEO Peter Berdusco says the demand for this financing was “extremely strong”.
“The participation included over 100 subscribers, most of them international, and is a direct testament to the growing interest in our company and properties. These funds allow us to continue to pursue significant assets and execute our work programmes in West Africa.”