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News Update


Drilling to Start in Coming Weeks at Red Lake Gold Project
News Update

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First, Nexus Gold must complete the permitting process, which is underway.

Nexus Gold Corp. (NXS:TSX.V; NXXGF:OTCQB) announced in a news release that it will start a diamond drill program at its McKenzie gold project in Ontario's Red Lake District once permitting is done, expected in the coming weeks.

"Prior work by other operators at McKenzie has produced some compelling results, both through sampling and through limited drilling. . .It's a target rich property, and we intend to drill test several zones over the coming months," President and CEO Alex Klenman said in the release.

The phase one, 1,000 meter plus (1,000m-plus) campaign will test initial targets in a corridor along the "southern contact of the dome stock with felsic volcanics of the Balmer assemblage," the release noted.

Previous operators yielded high-grade intercepts through sampling and limited drilling in the property's southern portion. For instance, drilling in 2005 along that corridor, in the St. Paul's area, returned 7.49 grams per ton (7.49 g/t) gold over 8.2m and 15.54 g/t gold over 0.8m, including 23.4 g/t over 0.3m.

"We'd like to follow up and see if we can replicate or improve those numbers," said Klenman.

After Vancouver-based Nexus drills the southern part of McKenzie, it will move northward and drill there, likely later in the year, the company stated.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Nexus Gold. Please click here for more information. Within the last six months, an affiliate of Streetwise Reports has disseminated information about the private placement of the following companies mentioned in this article: Nexus Gold.
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