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NeXGold Mining Initiates Inaugural 25,000-Metre Diamond Drill Program and Plans an Updated Mineral Resource at the Goldboro Gold Project
TORONTO, Jan. 22, 2025 (GLOBE NEWSWIRE) -- NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) (“NexGold” or the “Company”) is pleased to announce it has commenced
About this update from Nexgold Mining Corp.
[{"type":"text","content":" TORONTO, Jan. 22, 2025 (GLOBE NEWSWIRE) -- NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) (“NexGold” or the “Company”) is pleased to announce it has commenced drilling on the Goldboro Deposit at the Company’s Goldboro Project in Nova Scotia (“Goldboro”). The drill program, which comprises up to 25,000 metres, is primarily designed to infill specific areas of the open pit Mineral Resource identified to improve geological and grade continuity and potentially upgrade certain areas of Inferred and Indicated Mineral Resources (the “Drill Program”). This Drill Program will include an initial Phase I consisting of 15,000 metres with Phase II (up to an additional 10,000 metres) of drilling to be committed based on ongoing review of the mineral resource and regional exploration work. The Drill Program will initially be conducted with one drill, with an additional 2 drill rigs to be added over the next month. Information gathered from the Drill Program will inform a planned update to the Goldboro Mineral Resource Estimate which will also include drilling completed in 2023 and 2024 at the western extension of the Goldboro Deposit. Drill results at the western extension of Goldboro successfully demonstrated the continuity of gold mineralization to the west of the existing Goldboro Mineral Resource Estimate (over a distance of 450 metres) with gold mineralization intersected in all drill holes, strengthening the view that there is potential for additional open pit Mineral Resources at Goldboro. Kevin Bullock, President and CEO, stated: “NexGold’s inaugural Drill Program at Goldboro will kickstart a new stage of pre-construction works that dovetails with recent permitting achievements and an historic Benefits Agreement with the Assembly of Nova Scotia Mi’kmaw Chiefs. With up to 25,000 metres of diamond drilling focused on specific open pit portions of the deposit and the potential for upgrading of Mineral Resources, the drill results will be included in a planned Mineral Resource update for the Goldboro Deposit in 2025, which will ultimately form the basis of an updated Feasibility Study on the Goldboro Gold Project. Future Mineral Resource updates will include the Western Extension – gold mineralization discovered west of the current Mineral Resource. NexGold is emerging as one of Canada’s most advanced near-term gold developers with ...