Nexus Gold is a Canadian gold exploration and development company with an extensive portfolio of projects in West Africa. On 7 June 2023, it announced that it had signed an option agreement to acquire a 90% interest in the Fofora gold project exploration licence. Fofora is located 450 km south-west of Ouagadougou in Burkina Faso, West Africa. It covers an area of 6,200 ha (62 km²).
The Company can earn up to a 90% interest in the property by making a combination of cash payments of 300,000 $ US and 500,000 shares over 54 months.
The Fofora licence is located in the department of Kampti in the province of Poni, close to the border with Côte d’Ivoire. The greenstone belt is home to many large-scale gold mines.
The property was explored in the past by Volta Resources and later by Roxgold and Fortuna Silver. Previous work on the property identified a 2-kilometre gold-in-soil geochemical trend straddling the geological contact between andesitic and basaltic rocks. This contact zone correlates well with regional magnetic data.
“With the addition of Fofora, we now have three leading gold exploration projects in our West African portfolio,” said CEO Milad Zareian. “We are eager to get back to work in Burkina and look forward to drilling as soon as possible. We hope that once the rainy season is behind us later this summer, we will be able to announce a significant work programme,” continued Mr Zareian.
Elie Kabore
#Mines_Actu_Burkina
