VANCOUVER, BC / ACCESSWIRE / August 20, 2015 / Nexus Gold Corp. ("Nexus" or the "Company") (TSX-V: NXS) is pleased to report that the Company has submitted an expanded Plan of Operation for its 2016 Walker Ridge Gold Project Exploration Drill Program in the Jerritt Canyon-Independence Trend, Nevada USA. The plan has been submitted to the Mountain City District Ranger to commence the permitting process.
"We are seeking to permit an expanded exploration program in 2016," says President and CEO Peter Berdusco. "Next year's plan consists of an increase from the current eight pad plan to 29 drill pads. All are located on four of the five largest Vital GeoSURVEY clusters. 16 of them are located directly over Vital's points of interest (POIs) within those clusters. All drill pads are coincidental to the geochemical and geo-physical work we previously performed on the property. We look forward to the continued development of Walker Ridge."
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.
Innovative Technology
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.
Peter Berdusco
President and Chief Executive Officer
604-558-1920
www.nexusgoldcorp.com
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.