NexGold Mining Corp. Updates on Ongoing Diamond Drill Program at Goldboro Project

Strategic Insights -

NexGold Mining Corp., a Canadian gold development company, has provided an update on its ongoing 25,000-meter diamond drill program at the Goldboro Project in Nova Scotia. The program is focused on infilling specific areas of the open pit Mineral Resource to improve geological and grade continuity and potentially upgrade certain areas of Inferred and Indicated Mineral Resources. The drilling is progressing well, with three diamond drills currently at Goldboro, which have completed approximately 17,000 meters of diamond drilling.

The Company has also provided highlights for four diamond drill holes (BR-25-473, 479, 498, and 501), which confirm the existence of broader zones of gold mineralization in areas previously under-sampled. The results indicate that gold mineralization occurs over broader zones as well as in areas not previously recognized as mineralized. The 25,000-meter drill program is designed to provide the information needed for a planned Mineral Resource update for the Goldboro Deposit in 2025, which will form the basis of an updated Feasibility Study on the Goldboro Gold Project.

Key Takeaways:

  • NexGold has initiated a 25,000-meter diamond drill program at the Goldboro Project in Nova Scotia to infill specific areas of the open pit Mineral Resource.
  • The program is designed to improve geological and grade continuity and potentially upgrade certain areas of Inferred and Indicated Mineral Resources.
  • The drilling is progressing well, with three diamond drills currently at Goldboro, which have completed approximately 17,000 meters of diamond drilling.
  • The Company has provided highlights for four diamond drill holes (BR-25-473, 479, 498, and 501), which confirm the existence of broader zones of gold mineralization in areas previously under-sampled.
  • The results indicate that gold mineralization occurs over broader zones as well as in areas not previously recognized as mineralized.
  • The 25,000-meter drill program is designed to provide the information needed for a planned Mineral Resource update for the Goldboro Deposit in 2025, which will form the basis of an updated Feasibility Study on the Goldboro Gold Project.
  • The Company plans to finalize its Feasibility Study at its advanced-stage Goliath Project in Ontario after completing the drill program at Goldboro.
  • NexGold is an emerging, advanced, near-term gold developer with its Goldboro and Goliath Projects.

Statistics:

  • The diamond drill program has completed approximately 17,000 meters of drilling.
  • The 25,000-meter drill program is designed to provide the information needed for a planned Mineral Resource update for the Goldboro Deposit in 2025.
  • The results from the first four twinned holes confirm that gold mineralization is broader than in the historically under-sampled diamond drill core.
  • Gold mineralization was intersected in areas where no samples were previously taken and not previously anticipated, indicating that gold mineralization occurs over broader zones as well as in areas not previously recognized as mineralized.
  • The Company plans to release further results from additional twinned holes throughout the program as well as infill drilling that will inform an updated Mineral Resource Estimate and updated Feasibility Study at Goldboro.

Sources:

  • NexGold Mining Corp. press release dated [no date provided]
  • National Instrument 43-101 Standards of Disclosure for Mineral Projects
  • CIM Exploration Best Practices Guidelines
  • ALS Canada Ltd.
  • Eastern Analytical Ltd.
  • PricewaterhouseCoopers LLP
  • RSM Canada LLP