55.5m of 1.00 g/t Au At McKenzie Gold Project

VANCOUVER – Nexus Gold Corp. has received additional assay results from the recently completed phase one drill program at the Company’s 100% owned McKenzie Gold Project, located in Red Lake, Ontario.

The final seven holes drilled in this program were testing targets identified by the company in its 2019 surface prospecting programs.  Drilling continued to intersect narrow intercepts in the 1-4 grams-per-tonne (g/t) gold (Au), as per historic and recent drilling by the Company, but also resulted in the discovery of a particular mineralized zone that has now produced longer intersections of greater than 50 to 100 meters in length.

Drill hole MK-20-008 returned a significant intercept of 117.5 meters of 0.62 g/t Au, including 55.5 meters of 1.00 g/t Au, which also includes intercepts of 6m of 2.37 g/t Au, 2m of 4.28 g/t Au, and 9m of 1.14 g/t Au, among others (see table 1).  Drill hole MK-20-007, which was drilled approximately 25m  east of hole MK-20-008,  returned anomalous gold grades of 0.36 g/t Au over 117m, including notable intercepts 9.4m of 1.26 g/t Au, 4m of 1.13 g/t Au, and 1.5m of 4.64 g/t Au.

“This is extremely exciting, as our exploration program has identified a second style of gold mineralization on the McKenzie property,” said VP of Exploration, Warren Robb. “These disseminated, near one-gram gold intercepts more closely resemble the type of mineralization being explored by Premier Gold at the Hasaga Project, located to the south-east of our project ground.  The deposits at Hasaga are estimated to host over one million ounces at just under a one-gram gold average.  This, coupled with the earlier reported intercepts of 13 g/t Au over 3 meters in hole 6, suggests that there is a strong potential for economic mineralization occurring in the St. Paul’s Bay region of our claims,”

Both holes 007 and 008 were drilled entirely in a granitic rock of the Dome stock and displayed patchy moderate-to-strong silica alteration. Silica altered intervals are typically associated with high density micro-fracturing and increased molybdenite and chalcopyrite mineralization. Fine-grained fluorescent scheelite was also observed. The granite was strongly magnetic, containing 2-3% fine-grained disseminated magnetite.