I was intrigued about Nexus gold properties while researching the Burkinabe gold sector. It is still a relatively unknown actor in this space. Nexus owns three properties in Burkina Faso, all of them easily reachable by paved road 1.5 hours north from Ouagadougou, the capital city of Burkina Faso.
I toured the properties with Warren Robb a seasoned geologist with over 25 years of experience and currently Nexus’ chief geologist. In 2012, Mr. Robb served previously as chief geologist for Roxgold (ROGFF), where he supervised both field exploration and the diamond and RAB drilling program on the company’s Yaramoko gold property located in the Hounde Belt, western Burkina Faso.
Niangouela is the first property that I visited. Below a view of how the property looks now. The region is flat with some small hills. On the side of this hill you can observe the grey coloured tailings left by the artisanal miners.
Niangouela (Fabio Herrero 2017)
Bouboulou and Niangouela projects in contest (September 2017 Corporate Presentation).
The 178 square km Niangouela gold concession is located on the Boromo greenstone belt, and is very close to the Kalsaka and Sega deposits and mine (previously owned by Cluff Gold and Amara Mining) and the Sabce shear. In this region of Burkina Faso gold is generally associated with quartz veins. The company has delineated a 1 km quartz vein and shear strike with samples taken at depths of around 46-60m. The best sample was the NG005, taken from the primary quartz vein at 46 metres below surface in an artisanal shaft, returned a value at 2,950 g/t gold. Eight of the first nine diamond drill holes on the property returned positive gold intercepts, highlighted by a 4.85m intercept at 26.69 g/t, including one metre at 132 g/t. There is a sizeable artisanal miners village over the property as you can see in the picture below.
The artisanal miners village present on the property (Fabio Herrero 2017).
This 38.8 square km Bouboulou gold concession was previously explored by Riverstone Resources and Roxgold. The property sports numerous near-surface gold occurrences in three gold trends, each extending for around 5km. Historical drill results include: 40m of 1.54 g/t, including 20m of 2.25 g/t; 35m of 2.2 g/t, including 12m of 5.45 g/t; 10m of 2.84 g/t, including 2m of 12.45 g/t and 4m of 12.53 g/t.
These tiny little yellow sparks are gold particles collected by an artisanal miner on the Bouboulou property (Fabio Herrero 2017).
The 250 square km Rakounga gold concession is contiguous to the Company’s Bouboulou property, bordering Bouboulou on the west and south sides.
Rakounga also features several artisanal miners sites. Koaltenga is the largest with up to 800 metres of strike length. The porphyry orpaillage measures approximately 150 metres in length, hosted in plutonic rocks. Gounga is the smallest orpaillage, measuring approximately 75 metre long. The Bouboulou 2 and Pelatanga-Rawema gold trends extend southwest from the Bouboulou property on to Rakounga. There is significant artisanal mining activity along this trend, indicating gold mineralization extends for some distance.
Below you can see a picture of the chips of the RKG 17 RG-001 drill hole, which returned (starting at 102 meters deep) an intercepts of 26 metres grading 0.82 grams per tonne gold, including two metres of 4.11 g/t Au
Warren Robb believes as being this to be the most promising project of Nexus’ portfolio. This properties, as the others, need more exploration to determine the extent of these mineralised zones.
The chips of the RKG 17 RG-001 RC drill hole, you can nicely see the different colours of the different geological strata (Fabio Herrero 2017).
To conclude Nexus is a nimble new player that is drilling on land that obviously contains gold bearing structures and trying to delineate the first gold deposits. As many small explorers, it will need more money to explore further. Management fees and general and administrative costs are reasonable however and kept to the bare minimum, meaning that the majority of the money goes directly into exploration and this is good for investors. I will keep Nexus in my watchlist to see how it evolves and write about it again if warranted.