NexGold Commences Extensive Diamond Drill Program at Goliath Gold Complex in Ontario
NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) has officially launched a significant diamond drilling initiative at its Goliath Gold Complex located in northwestern Ontario. The ambitious program, which involves up to 25,000 metres of drilling, is specifically concentrated on the Goldlund Deposit. This strategic effort is designed to infill existing mineral resources and explore potential expansions within the open-pit framework.
Focus on Deepening Resource Understanding
The drilling campaign, which began in late 2025 and is expected to continue throughout 2026, will primarily target the deeper sections of the Goldlund open-pit Mineral Resource. By increasing drill density in these areas, NexGold aims to enhance geological continuity testing of high-grade plunging shoots. This meticulous approach is part of the company's broader strategy to optimize the Goliath Complex and create value for shareholders, stakeholders, and Rightsholders.
CEO Outlines Transformational Vision for 2026
Kevin Bullock, President and CEO of NexGold, emphasized the importance of this drill program in the context of the company's overall growth trajectory. "We expect 2026 will be a transformational year for NexGold as we advance towards a final investment decision at the permitted open pit Goldboro Gold Project in Nova Scotia," Bullock stated. "While that work progresses, we will continue our focus on creating value, which includes optimizing the Goliath Complex in Ontario."
Bullock further highlighted that the current drilling activities align with project optimization and value creation goals. These efforts will be complemented by ongoing engagement with First Nations communities, advancement of permitting activities, and feasibility studies. The company plans to provide regular updates on the drill program as results become available throughout the year.
Substantial Mineral Reserves and Resources at Goliath Complex
The Goliath Complex, which encompasses the Goliath, Goldlund, and Miller Deposits, boasts impressive mineral reserves and resources. According to the latest data:
- Proven & Probable Mineral Reserves: 1,267,000 ounces of gold and 1,724,000 ounces of silver (30,319,000 tonnes at grades of 1.30 g/t gold and 1.77 g/t silver).
- Goldlund Deposit Probable Reserves: 621,000 ounces of gold (16,256,000 tonnes at 1.19 g/t gold).
- Combined Measured and Indicated Open-Pit Mineral Resources: 1,784,500 ounces of gold and 2,819,100 ounces of silver (64,769,000 tonnes grading 0.86 g/t gold and 2.99 g/t silver).
- Goldlund Deposit Measured and Indicated Resources: 911,000 ounces of gold (33,353,000 tonnes at 0.85 g/t gold).
- Goldlund Open-Pit Inferred Mineral Resource: 680,200 ounces of gold (28,833,000 tonnes grading 0.73 g/t gold).
These figures are detailed in the technical report titled "Goliath Gold Complex – NI 43-101 Technical Report and Prefeasibility Study" dated March 27, 2023, with an effective date of February 22, 2023. The report was prepared by Ausenco Engineering Canada Inc. and is available through the company's profile on SEDAR+ and on the NexGold website.
Strategic Implications and Future Outlook
The initiation of this 25,000-metre drill program marks a critical step in NexGold's operational strategy for 2026. By focusing on infill drilling at the Goldlund Deposit, the company aims to solidify its resource base and potentially unlock additional value within the Goliath Complex. This effort not only supports near-term project optimization but also aligns with long-term goals of advancing towards production decisions and enhancing stakeholder returns.
As the drilling progresses, stakeholders can anticipate ongoing updates that will shed light on the geological continuity and resource potential of this promising gold complex in Ontario.
