NexGold Mining Corp. Expands Goliath Gold Exploration
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NexGold Mining Corp. Expands Goliath Gold Exploration
NexGold Mining Corp. (TSXV: NEXG) (OTCQX: NXGCF) is pleased to provide an update on its fieldwork this season, announcing that it has commenced an expanded exploration program at its Goliath Gold Complex. This initiative includes soil geochemistry, prospecting, and mapping at the Project located in northwestern Ontario, focusing particularly on the northeast end of the Goldlund claim block, which has seen limited exploration.
Key Highlights
Several significant findings have emerged from the recent exploration efforts:
- Confirmatory results at the Fold Nose, with notable gold found in uptrend of previous drilling.
- Highlights from channel samples include:
- 7.13 g/t Au over 2.00 metres, including a remarkable 15.70 g/t Au over 0.75 metres.
- 3.18 g/t Au over 2.68 metres, with 7.53 g/t Au over 0.78 metres.
- 5.10 g/t Au over 0.52 metres.
- 5.09 g/t Au over 0.47 metres.
- Expansion of prospecting operations over Goldlund North.
- Initiation of soil sampling grids over three new targets, which include:
- Miller deposit strike extension
- Miles target
- Cabin Bay target
Morgan Lekstrom, President of NexGold, commented that the continued gold mineralization identified on surface indicates the presence of a larger mineralization system. This remarkable progress coincides with the company's ongoing 25,000-meter drill program intended to explore both current and new areas. The expanded exploration efforts are aimed at investigating the northeast area of the Goldlund claim package, an area that has previously remained underexplored. Newly collected data, combined with geophysical signatures, are expected to outline numerous drill targets.
Spring Field Program Introduction
In May, NexGold embarked on a field exploration program that comprises prospecting, mapping, channel sampling, and soil geochemistry sampling. This program aims to gather essential geological information, discover new gold anomalies, and enhance existing areas of interest for future drilling targets. Key target areas designated for focus include the Fold Nose, South Syncline, and Far East, alongside Interlakes, Wild Cats, Goldlund South, and Cabin Bay, situated over the Goldlund claim block.
Fold Nose Exploration Activities
Within the Fold Nose area, an extensive exploration team conducted detailed channel sampling and mapping to gain insights into the structural controls of gold mineralization. The objective of this study was to verify whether the gold mineralization in TL22-637 correlates with surface samples through a plunging structure. Observations of multiple structural measurements revealed a lineation plunging toward previously intercepted gold values in TL22-637, which recorded 0.42 g/t Au over 38.5 m. Notably, 13 channel samples retrieved from this area returned gold concentrations above 1 g/t Au.
Expanded Exploration Initiative
The expanded field program involves deploying a larger prospecting team to the northeast sector of the Goldlund claim block, a region that has received minimal previous exploration attention. This includes the establishment of new soil geochemistry sampling grids targeting the strike extension of the Miller Deposit, as well as the Cabin Bay and Miles targets.
These new exploration efforts are further complemented by the ongoing 25,000 metre drill program, aiming to uncover growth opportunities within the Complex.
Qualified Person Statement
Adam Larsen, B.Sc., P. Geo., Director of Exploration, is recognized as a "Qualified Person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects. He has reviewed and approved the scientific and technical disclosure included in this announcement on behalf of NexGold.
About NexGold Mining Corp.
NexGold Mining Corp. is a dedicated gold-focused company with operations in Canada. The Goliath Gold Complex, which encompasses the Goliath, Goldlund, and Miller deposits, is strategically located in Northwestern Ontario. The deposits benefit from excellent access to crucial infrastructure like the Trans-Canada Highway, nearby power and rail systems, and their proximity to surrounding communities.
The company possesses additional projects across Canada, including the Weebigee-Sandy Lake Gold Project and the grassroots gold exploration property known as Gold Rock. NexGold emphasizes inclusive communication with regional communities and Indigenous Nations, aiming to create sustainable economic opportunities and enhance community well-being throughout all its projects.
Contact Information
Morgan Lekstrom
President & Director
Orin Baranowsky
CFO
NexGold Mining Corp.
C: +1 250-574-7350
Toll-free: +1-855-664-4654
Email: ir@nexgold.com
Frequently Asked Questions
What is the focus of NexGold Mining Corp.'s exploration efforts?
NexGold Mining Corp. is concentrating on expanding its exploration programs at the Goliath Gold Complex, specifically targeting areas with newly identified gold mineralization.
What notable samples have been reported from the recent field program?
The field program has reported significant gold concentrations, including results like 7.13 g/t Au over 2.00 metres and 3.18 g/t Au over 2.68 metres.
What regions are being targeted in the expanded exploration program?
The exploration team is focusing on the northeast sector of the Goldlund claim block, which includes new sampling grids over the Miller Deposit, Cabin Bay, and Miles targets.
Who oversees the scientific and technical aspects of the exploration?
Adam Larsen, the Director of Exploration, is the Qualified Person who has reviewed and approved all scientific and technical disclosures related to the exploration program.
How does NexGold engage with local communities?
NexGold is committed to fostering meaningful dialogues with regional communities and Indigenous Nations to create sustainable economic opportunities and enhance social value.
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