Goldboro Project Hits 73.92 g/t gold Over 3.8m Set to create one of Canada's most advanced near-term gold developers, NexGold Mining (NEXG.v NXGCF) and Signal Gold (SGNL.to SGNLF) recently announced a merger for a combined resource of 4.7 million gold ounces and a plan to achieve 200,000+ ounces of annual production.
Both NEXG's Goliath Property and SGNL's Goldboro Property have significant growth potential across a combined 60,000 hectares of land with potential for further discoveries along strike, at depth and through new discoveries.
Notably, the Goldboro Project has continually been intersected high-grade gold, including 73.92 g/t gold over 3.8m and 16.00 g/t over 4.5m. These latest results have demonstrated the continuity of the deposit to the west alongside the potential for additional open pit Mineral Resources outside the current deposit.
Additional highlights include:
- 73.92 g/t gold over 3.8 metres (150.5 m to 154.4 m) in drill hole BR-24-459; including 396.27 g/t gold over 0.7 m;
- 16.00 g/t gold over 4.5 metres (175.3 m to 179.8 m) in drill hole BR-24-459; including 44.8 g/t gold over 1.5 m; and including 79.00 g/t gold over 0.5 m;
- 40.25 g/t gold over 1.8 metres (76.8 m to 78.6 m) in drill hole BR-24-455, including 133.68 g/t gold over 0.6 m;
- 4.03 g/t gold over 3.2 metres (139.8 m to 143.0 m) in drill hole BR-24-455; including 23.51 g/t gold over 0.5 m;
- 20.28 g/t gold over 1.3 metres (183.2 m to 184.5 m) in drill hole BR-24-455; including 43.02 g/t gold over 0.5 m; and
- 51.93 g/t gold over 1.5 metres (42.9 m to 44.4 m) in drill hole BR-24-458; including 155.46 g/t gold over 0.5 m.
Having additionally recently increased its oversubscribed financing to C$17M, as part of its merger with Signal Gold, due to significant demand, this merger sets NEXG on a clear path in eliminating single-asset risk by diversifying with two advanced-stage projects, both expected to complete permitting by 2025.
For more information, refer to SGNL's latest update from Goldboro: https://feeds.issuerdirect.com/news-release.html?newsid=4645279423854942
Posted on Behalf of NexGold Mining Corp.