NexGold Launches Major Drill Program Aiming for Resource Update

NexGold Begins Significant Diamond Drill Program

NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) has officially launched its inaugural diamond drill program at the renowned Goldboro Deposit located within its expansive Goldboro Project. This ambitious initiative spans a total of 25,000 metres, with the primary goal of enhancing the continuity of geological characteristics and improving the grade within the existing open-pit mineral resources.

Overview of the Drill Program

The drilling operation consists of an initial Phase I, which will encompass approximately 15,000 metres aimed at specific segments of the deposit. Following this phase, Phase II could contribute up to an additional 10,000 metres based on evaluations of ongoing mineral resource assessments and exploratory surveys in the region. The commencement of drilling will utilize one initial rig, with plans to mobilize a further two rigs in the coming month to expedite the process.

Transforming Geological Insights into Resources

Insights drawn from this drill program are poised to significantly contribute to an updated Mineral Resource Estimate for the Goldboro project. The planned update will conveniently incorporate previous drill results gathered in 2023 and 2024, particularly from the promising western extension of the Goldboro Deposit. Recent results from this area have shown a consistent presence of gold mineralization across all drilling holes, revealing a continuous gold trend extending over 450 metres west of the existing resources. This encouraging outcome reinforces the belief in the potential for expanding the mineral resources available at Goldboro.

Company Leadership Insights

Kevin Bullock, President and CEO of NexGold, expressed enthusiasm about the drill program: “This initiation marks a critical advancement in our pre-construction initiatives, particularly in light of our recent permitting milestones and our established Benefits Agreement with the Assembly of Nova Scotia Mi’kmaw Chiefs. By focusing on the open-pit segments of the Goldboro Deposit, we believe this program will yield crucial data to support our ongoing Mineral Resource updates planned for 2025.” Bullock emphasizes the company’s strategic goal of demonstrating its position as a top contender among Canada’s near-term gold developers through its Goldboro and Goliath projects.

Understanding NexGold Mining Corp.

NexGold has strategically positioned itself as a prominent gold-focused mining enterprise, holding robust resources in both Canada and Alaska. Its Goliath Gold Complex houses notable deposits including Goliath, Goldlund, and Miller, situated in Northwestern Ontario. Furthermore, the company’s Goldboro Project, located in Nova Scotia, presents significant growth potential. Additionally, NexGold possesses various other exploration projects across Canada, such as the Weebigee-Sandy Lake Gold Project joint venture and the grassroots Gold Rock project.

Commitment to Community and Sustainability

The company prides itself on fostering meaningful engagement with local communities and Indigenous Nations throughout the lifespan of its projects. This commitment includes promoting sustainable economic opportunities, ensuring safe working environments, enhancing social value, and championing community wellbeing. By prioritizing these aspects, NexGold aims to create a lasting impact in the regions where it operates.

Future Endeavors and Technical Expertise

Looking ahead, NexGold remains dedicated to translating its technical prowess into tangible benefits for stakeholders. Paul McNeill, VP of Exploration, is recognized as a qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects. McNeill has overseen the approval of scientific and technical disclosures to ensure transparency and integrity within the company’s operations.

Contact Information for Inquiries

For further details regarding NexGold or to inquire about their ongoing projects, stakeholders are encouraged to reach out to:

Kevin Bullock
President & CEO
(647) 388-1842
kbullock@nexgold.com

Orin Baranowsky
Chief Financial Officer
(647) 697-2625
obaranowsky@nexgold.com

Frequently Asked Questions

What is the purpose of NexGold's drill program?

The drill program aims to enhance geological continuity and improve the grade of mineral resources at the Goldboro project.

How many metres is the drill program expected to cover?

The drill program encompasses up to 25,000 metres of exploratory drilling.

What are the expected outcomes of this drill program?

It is expected to lead to an updated Mineral Resource Estimate for Goldboro, incorporating new drilling data.

Who approved the technical disclosures for NexGold?

Paul McNeill, VP of Exploration, is the qualified person who has approved the scientific disclosures.

What other projects does NexGold manage?

NexGold owns several projects including the Goliath Gold Complex and various exploration properties across Canada and Alaska.

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