The company noted that "drilling completed in April was a follow up program designed to test and expand on the gold results obtained in the Company’s summer 2020 drill program in the St. Paul's Bay area of the property.
"We're pleased with the results in the first few holes from the follow up program at McKenzie," said Alex Klenman, Nexus president and CEO. "Our goal was to improve on the 2020 results, to extend the length of the mineralization previously encountered in this particular zone, and if possible, better the grades. So far, we've been able to do that."
Reported results are from five holes. Hole MK-21-019 returned "some significant intercepts," as described by Klenman in the release. For instance, the hole returned 136 meters (136m) of 1.25 grams per ton gold (1.25 g/t Au) from 148.5–285m downhole, including 44.9m of 3 g/t Au, 15.5m of 5.25 g/t Au, 29.4m of 1.82 g/t Au and 6m of 5.45 g/t Au.
This intercept also included 1m of 59.8 g/t Au from 149.5–150.5m downhole, 1m of 15.5 g/t Au from 150.5–151.5m and 1m of 26.7 g/t Au from 180.4–181.4m. MK-21-019 showed an average grade of 0.74 g/t Au over 283.4m and ended in mineralization at 285m downhole.
Another highlight hole, MK-21-017, showed 6.2m of 1.35 g/t Au, including 1m of 6.38 g/t Au, and 40.3m of 0.58 g/t Au, including 11m of 1.04 g/t Au and 2m of 2.05 g/t Au.
"We have now intersected a couple of lengthy runs containing gold in holes that are over 170 meters apart, and that appear to be improving as you go deeper," Vice President of Exploration Warren Robb said in the release. "This information is really helpful and allows us get a handle on the orientation of this mineralized structure."
"Drilling at St. Paul's Bay area of the McKenzie project has so far outlined a board zone of mineralization which has been traced for approximately 200 meters, looks to be as wide as 40 meters, and it appears to be striking to the northwest and dipping to the east. It remains open to the northwest and to depth," the company reported.
"The cores from the remaining holes were also well mineralized, so we're looking forward to seeing what they generate as well," Klenman said.[NLINSERT]
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.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Nexus Gold, a company mentioned in this article.