NexGold Launches Inaugural 25,000-Metre Diamond Drill Program at Goldboro Gold Project

NexGold Mining Corp. (TSXV: NEXG; OTCQX: NXGCF) has initiated its inaugural 25,000-metre diamond drill program at the Goldboro Gold Project, located in the historic Goldboro Gold District in Nova Scotia. This comprehensive drill campaign aims to support an updated mineral resource estimate and feasibility study, as well as explore regional exploration targets and potential mineral resource expansion. The Company's strategic goals align with this drill program, which seeks to advance the project towards production and create significant value for shareholders.



The primary objectives of NexGold's drill program at the Goldboro Gold Project include:

1. Infill drilling to support an Updated Mineral Resource and Feasibility Study: By conducting infill drilling, NexGold aims to improve the accuracy and confidence of the existing Mineral Resource Estimate, which will be essential for the upcoming Feasibility Study. This aligns with the company's strategic goal of moving its projects towards development and production.
2. Discovery potential at regional exploration targets: NexGold plans to explore two regional targets, Fowlers and Stewart, which have not been extensively explored. Discovering new resources at these targets could significantly expand the project's potential and create additional value. This objective aligns with NexGold's strategy of targeting high-value gold projects with potential production of over 100,000 ounces and a capital expenditure of under $400 million.
3. Potential mineral resource expansion to the west of the existing Mineral Resource: By drilling to the west of the existing Mineral Resource, NexGold seeks to identify additional open-pit ounces. This could enhance the project's economics and extend its mine life. This objective is consistent with NexGold's goal of creating a leading gold development company in Canada with a pipeline of low-cost, low-risk, high-return mine development and expansion projects.

The planned updated mineral resource estimate for the Goldboro Gold Project is a crucial factor in NexGold's long-term production and expansion plans. By updating the mineral resource estimate, NexGold can optimize the mine plan, improve the project's economics, identify new exploration targets, and evaluate the project's long-term sustainability and potential for growth. This will help NexGold make informed decisions about the project's development and integration into their overall production and expansion plans.

NexGold's drill programs at both Goldboro and Goliath projects face potential risks and challenges, such as geological uncertainty, accessibility, environmental and social concerns, weather constraints, and regulatory hurdles. To mitigate these risks, the company plans to conduct comprehensive drill campaigns, invest in infrastructure, engage with stakeholders, plan around weather conditions, and work proactively on permitting and regulatory approvals.

In conclusion, NexGold's inaugural 25,000-metre diamond drill program at the Goldboro Gold Project is a significant step towards advancing the project towards production and creating value for shareholders. By focusing on resource definition, exploration, and project advancement, NexGold aims to become a leading gold development company in Canada. As the Company continues to execute on its strategic goals, investors should closely monitor the progress of this drill program and its potential impact on the Goldboro Gold Project's future.