NexGold Mining Corp. Expands Goliath Gold Exploration
NexGold Mining Corp. (TSXV: NEXG) (OTCQX: NXGCF) is excited to share an update on its current fieldwork, announcing the launch of an expanded exploration program at the Goliath Gold Complex. This program includes soil geochemistry, prospecting, and mapping at the Project located in northwestern Ontario, with a particular focus on the northeast section of the Goldlund claim block, which has previously seen limited exploration.
Key Highlights
Recent exploration efforts have yielded several noteworthy findings:
- Confirmatory results at the Fold Nose, where significant gold was discovered in the uptrend of earlier drilling.
- Channel sample highlights include:
- 7.13 g/t Au over 2.00 metres, featuring an impressive 15.70 g/t Au over 0.75 metres.
- 3.18 g/t Au over 2.68 metres, including 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 activities in the Goldlund North area.
- Initiation of soil sampling grids over three new targets, which are:
- Miller deposit strike extension
- Miles target
- Cabin Bay target
Morgan Lekstrom, President of NexGold, stated that the ongoing gold mineralization observed on the surface suggests the existence of a larger mineralization system. This exciting development aligns with the company’s ongoing 25,000-meter drill program, which aims to explore both existing and new areas. The expanded exploration efforts are specifically designed to investigate the northeast section of the Goldlund claim package, an area that has not been thoroughly explored in the past. The new data collected, along with geophysical signatures, are anticipated to reveal numerous drill targets.
Spring Field Program Introduction
In May, NexGold initiated a field exploration program that includes prospecting, mapping, channel sampling, and soil geochemistry sampling. This program is intended to gather crucial geological information, identify new gold anomalies, and enhance existing areas of interest for future drilling targets. The primary focus areas include the Fold Nose, South Syncline, and Far East, as well as Interlakes, Wild Cats, Goldlund South, and Cabin Bay, all located within the Goldlund claim block.
Fold Nose Exploration Activities
In the Fold Nose area, a dedicated exploration team conducted comprehensive channel sampling and mapping to better understand the structural controls of gold mineralization. The goal was to determine if the gold mineralization in TL22-637 correlates with surface samples through a plunging structure. Observations of various structural measurements indicated a lineation that plunges toward previously intercepted gold values in TL22-637, which recorded 0.42 g/t Au over 38.5 m. Notably, 13 channel samples collected from this area showed gold concentrations exceeding 1 g/t Au.
Expanded Exploration Initiative
The expanded field program involves deploying a larger prospecting team to the northeast section of the Goldlund claim block, an area that has received minimal previous exploration. 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 supported by the ongoing 25,000-meter drill program, which aims to uncover growth opportunities within the Complex.
Qualified Person Statement
Adam Larsen, B.Sc., P. Geo., Director of Exploration, is acknowledged as a "Qualified Person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects. He has reviewed and approved the scientific and technical information included in this announcement on behalf of NexGold.
About NexGold Mining Corp.
NexGold Mining Corp. is a committed gold-focused company operating in Canada. The Goliath Gold Complex, which includes the Goliath, Goldlund, and Miller deposits, is strategically situated in Northwestern Ontario. The deposits benefit from excellent access to essential infrastructure such as the Trans-Canada Highway, nearby power and rail systems, and their proximity to surrounding communities.
The company has additional projects across Canada, including the Weebigee-Sandy Lake Gold Project and the grassroots gold exploration property known as Gold Rock. NexGold prioritizes open 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 focusing 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 concentrating 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 dedicated to fostering meaningful dialogues with regional communities and Indigenous Nations to create sustainable economic opportunities and enhance social value.
