- NexGold Mining (TSXV:NEXG) unveiled more high-grade hits from its now completed 25,000-metre drilling program on its Goldboro project in Nova Scotia
- The feasibility-stage project is estimated to contain 1.15 million ounces of gold proven and probable, 2.58 million ounces measured and indicated and 484,000 ounces inferred
- NexGold is a gold-focused exploration and development company advancing a portfolio spread across Canada and Alaska
- NexGold stock has given back just over 10 per cent since adopting the NexGold name in July 2024
NexGold Mining (TSXV:NEXG) unveiled more high-grade hits from its now completed 25,000-metre drilling program on its Goldboro project in Nova Scotia. The feasibility-stage project is estimated to contain 1.15 million ounces of gold proven and probable, 2.58 million ounces measured and indicated and 484,000 ounces inferred.
Results in Thursday’s news release stem from a proposed open pit in the western part of the property, demonstrating mineralization consistent with previous drilling. Highlights include:
- 3.58 grams per ton (g/t) of gold over 18.3 metres (m) (from 139 to 157.3 m), including 59.40 g/t gold over 0.6 metres in drillhole BR-25-530.
- 2.79 g/t gold over 19.7 m (from 291.3 to 311 m), including 72.80 g/t gold over 0.5 m in drillhole BR-25-544.
- 103.50 g/t gold over 0.7 m (from 86.3 to 87 m) in drillhole BR-25-523.
- 0.52 g/t gold over 32.8 m (from 125.2 to 158 m), including 3.50 g/t gold over 0.5 m in drillhole BR-25-539.
The program successfully infilled strategic areas of the open pit mineral resource, improving geological and grade continuity and making a stronger case for upgrading inferred and indicated resources.
Investors can expect NexGold to report assays from the remaining 91 drillholes through Q3 – including from the exploration of select drillholes from the 1980s and 1990s – as management progresses towards an updated mineral resource estimate planned for the second half of 2025, to be followed by an updated feasibility study.
Leadership insights
“We are very pleased to have completed this phase of infill drilling at the Goldboro gold project, which has shown early positive results in assays received to date from the proposed east and west pits,” Kevin Bullock, NexGold’s president and chief executive officer, said in a statement. “Efficiencies with the drilling program allowed us to complete additional twinning of historic drill holes, which will further help to de-risk the project moving forward. We will now turn our attention to updating the Goldboro mineral resource as we receive data. Updating the mineral resource will provide the basis of the planned feasibility study update. The timing of finishing the drill program and initiating a mineral resource update is timed well with recent news of the Notice of Completion for the Nova Scotia Industrial Approval for the project.”
About NexGold Mining
NexGold is a gold-focused exploration and development company advancing a portfolio spread across Canada and Alaska.
NexGold stock (TSXV:NEXG) last traded at C$0.79. The stock has given back just over 10 per cent since adopting the NexGold name in July 2024.
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