Northwire Canada EditionSaturday, November 7, 2026
Sign inSubscribe
Northwire
⌕
Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7% Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7%
Drill Results Routine +

Gold X2 Intersects 60.7m of 1.51 g/t Au from 47.0m at QES as Part of the Moss Gold Project Infill Drilling Program

Moss Project De-risked by AngloGold Backing and Infill Validation

By The Northwire Desk — AI Analysis May 13, 2026 · 07:01 AUXX · 1.75 Gold X2 Mining Inc.
Executive Summary
  • Event: Gold X2 Mining Inc. announced assay results from a ten-hole infill drilling program targeting the QES Zone at the Moss Gold Project in Northwest Ontario (May 13, 2026).
  • Reconciliation Metrics: Drill intercepts were found to be 44% wider and averaging 5% higher grade than predicted by the current Mineral Resource Estimate (MRE).
  • Objective: The program aimed to upgrade near-surface Inferred resources to the Indicated category within the existing open pit shell.
  • Key Intercepts: Significant results included MQD-26-343 with 60.7m at 1.51 g/t Au (including 22.2m at 2.42 g/t Au) and MQD-26-344 with 22.0m at 1.71 g/t Au (including 2.0m at 15.1 g/t Au).
  • Geology: All ten holes intersected a wide, sheared, and altered granodiorite body characterized by moderate-to-strong sericite-hematite-silica alteration.
Material Impact
  • Validation of PEA Model: The positive reconciliation (wider zones, higher grades) supports the Preliminary Economic Assessment (PEA) released in January 2026, which assumed a gold price of US$2,750/oz and projected an NPV5% of C$2.232 billion.
  • Resource Upgrade Potential: The results directly contribute to converting Inferred resources to Indicated status, a critical step required for the Feasibility Study targeted for H2 2027.
  • Incremental Nature: This news is part of the previously announced 160,000-meter 2026 drilling program (May 5, 2026). While positive, it represents expected execution rather than a new discovery or strategic shift.
  • Market Expectation: The market has already priced in the AngloGold Ashanti investment and the PEA. This news confirms technical confidence but does not fundamentally alter the investment thesis established by the $115M financing.
AUXX · Price
Company Overview
  • Flagship Project: Moss Gold Project, 100% owned in Northwest Ontario (Shebandowan Greenstone Belt).
  • Resource Estimate (Jan 2026): Indicated Gold: 2.458 million ounces at 1.04 g/t Au; Inferred Gold: 4.209 million ounces at 0.97 g/t Au. Significant Silver resources also present.
  • Economic Assessment: PEA indicates a long-life mine with low production costs (AISC US$1,188/oz) and strong cash flow profile under base case assumptions.
  • Infrastructure: Direct access from Trans-Canada Highway, nearby hydroelectric power, and supportive local communities.
Read the original news release →

More from Gold X2 Mining Inc.

Nov 02, 2026 · 07:00

Gold X2 closed its Bold Ventures deal and expanded the Moss project footprint with a new resource update.

M&A / Property Oct 27, 2026 · 07:02

Gold X2 spins out a 1% NSR royalty to shareholders, unlocking value while preserving project economics.

M&A / Property Oct 14, 2026 · 07:01

Gold X2 infill drilling adds ounces while grades slip, positioning the Q1-27 MRE as the primary catalyst for the project.

Drill Results Sep 21, 2026 · 07:00

Gold X2 recycles known assay data as cash burns toward the Q1/27 mineral resource estimate for its project.

Drill Results Sep 10, 2026 · 07:01

Gold X2’s QES Deeps project returned 200+ gram-metre bulk gold at 0.73 g/t, a grade below the resource head grade.

Drill Results Sep 08, 2026 · 10:01

Gold X2’s NYSE American listing begins as Span Prospect drilling extends the Moss deposit footprint.

Regulatory