Prominent Mag Low At New Pilot Copper-Gold Project

VANCOUVER - Nexus Gold Corp. has the final report from Precision GeoSurveys detailing results for the 301 line kilometer airborne magnetic and radiometric survey on the Company’s New Pilot property located in the Bridge River Camp in central B.C., Canada.

The survey outlined a prominent magnetic low occurring coincidentally with an area which has returned high historic gold values.  Historic Grab samples collected in this area returned values of 7.5 grams-per-tonne (“g/t”) gold (“Au”) and 106 g/t Au, respectively. This magnetic low feature extends for some 450 meters on the New Pilot property and measures up to 150 meters in width.  The company is planning a follow up airborne EM survey to cover the property and to identify potential conductive and resistive zones to aid in interpretation and identifications of targets for follow up.  

New Pilot is a copper-gold exploration property located in the historic Bridge River Mining Camp, approximately 180 kilometers north of Vancouver, and 10.5 kilometers west of the village of Gold Bridge, British Columbia.

Previous work by the Company in 2019 at New Pilot consisted of a summer reconnaissance and sampling program in and around areas of historical exploration.  A total of 36 rock samples were collected at this time.  Results confirmed a zone of copper-gold mineralization, with selective samples returning values of 15.3 g/t Au, 33.4 g/t, silver (“Ag”), and 2.5% copper (“Cu”), in addition to 4.27 g/t Au, 5.5 g/t Ag, and 0.27% Cu, and 3.91 g/t Au, 3.72 g/t Ag, and 0.51% Cu. The 509-hectare property has been the subject of historical exploration.  Between 1992 to 1994 Cogema Canada Ltd conducted detailed prospecting and sampling.  99 grab samples were taken in three zones, with three returning values in excess of 100 g/t Au, including 102 g/t Au, 106 g/t Au with visible gold, and 111g/t Au;  three returning values in excess of 10 g/t Au (17 g/t Au, 21 g/t Au, 33 g/t Au);  and 14 others returning values in excess of 1 g/t Au.

In addition, 59 soil samples, 229 rock samples, and 66 core samples from a small 108-meter diamond drill program were also obtained.  Significant results obtained included chip samples of 4.03 g/t Au over 10 meters, and 1 g/t Au over 10.5 meters in drill core.

Three styles of mineralization have been identified on the Project: siliceous fractures containing sulphides, carbonate altered shears, and quartz veins containing arsenopyrite.  The Project location is situated at the contact of the Coast Crystalline Complex and the Bridge River sediments.  Over the past 80 years several exploration programs have been conducted over or near the property, initially concentrating on the Pilot Mine and its strike extension. The Project is relatively close to the producing Bralorne Pioneer Mine, located 18 kilometers to the south east.

The Bralorne gold camp represents one of Canada’s most prolific mining operations. From 1928 to 1971, the Bralorne and nearby Pioneer and King mines produced 4.15 million ounces of gold from 7.9 million tons of ore. The Bridge River Mining Camp is the largest past producer of gold in British Columbia. In 2017, Blackstone Minerals Ltd, an Australian-based company, acquired the Little Gem Project, a high-grade cobalt and gold project, located approximately 900 meters from the New Pilot location.