Nexus Advances Two Gold Projects in Burkina Faso
In January I wrote about a young company that picked up two highly potential gold projects in Burkina Faso. I’m not a big Africa fan. Home rule and rampant corruption destroyed Zimbabwe. The same looting and plundering is taking place in South Africa. Tanzania just fined one of the largest gold mining companies in the country $190 billion dollars. When the people of Zimbabwe, South Africa and Tanzania are all starving due to government stupidity, perhaps it will occur to them that it would be nice to have companies willing to invest in the country to raise the standard of living of all of the citizens and help pay their taxes. It’s politically incorrect to actually say it but Africa’s problems are self-inflicted.
Regular readers of my site know that I am an equal opportunity anarchist. I despise all governments equally. You couldn’t give me a project in either country. However, there are good countries in Africa who have yet to go the stupid direction. Burkina Faso is the best. It has the mineral assets and actually works with mining companies.
Nexus has completed their second round consisting of about 2000 meters of drilling at Niangouela. Assay results will be released shortly between now and mid-September. The company has identified an additional five quartz shear zones. Initial samples taken from artisanal dumps from two of the new zones returned grades of 2.25 g/t, 1.88 g/t and 1.86 g/t gold.
At the Bouboulou ground the team found a new zone of mineralization about 1000 meters west of the main zone. The artisanal workings extend some 150 meters in length. This fifth zone is in addition to the four previously identified mineralized areas in the concession. A 2000 meter drill program commenced in June. Results will be announced shortly.
In early July Nexus announced a Letter of Intention to acquire a 250 square km land package next to Bouboulou called the Rakounga property. The property extends two of the main mineralized trends for miles to the south and southwest. Look at the two pictures below to see the artisanal workings.
(Click on images to enlarge)
Nexus peaked in February at $.365 in the December/January rally and has made a perfectly normal correction. It was expensive then and is cheap now. With an $18 million dollar market cap it is perfectly positioned to move higher with either the seasonal move in gold or good assay results, both of which I expect to take place.
I am a shareholder and they are advertisers. Please do your own due diligence.
Nexus Gold Corp