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NexGold expands drilling at Goldboro after new gold assays
The company raised its 2025 drilling target to 40,000 metres from 30,000 metres, citing stronger near-surface mineralization results.
NexGold Mining said it is expanding drilling at its Goldboro project in Nova Scotia by one-third after new assays boosted confidence in near-surface mineralization. In a statement, the company said hole RC-26-147 intersected 6 metres grading 12.06 grams gold per tonne from 44 metres depth, including 1 metre of 67.41 grams from 47 metres, while hole RC-26-102 returned 18 metres of 3.84 grams gold per tonne from 44 metres.
Mining.com reported that NexGold now expects to drill 40,000 metres at Goldboro this year, up from a previous target of 30,000 metres. The expanded program is about 62% complete and will feed into a future resource update, while the company prepares an updated feasibility study scheduled for release in the third quarter.
The drilling results also aim to support early-years production planning and project financing expectations, according to National Bank Financial mining analyst Alex Terentiew. Terentiew said the new data further de-risks mine planning by confirming the continuity, tenor, and thickness of near-surface mineralization in areas expected to be mined early.
NexGold shares rose 3.4% to C$1.22 in Toronto on Thursday, valuing the company at about C$304 million. The Goldboro project, about 175 km northeast of Halifax, is fully permitted and hosts two open-pit deposits; Thursday’s update covered 3,420 metres across 72 reverse circulation holes in the West pit area.
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