Northwire Canada EditionFriday, July 10, 2026
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TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0% TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0%
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 →

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Production / Operations