NexGold Intersects 4.16 g/t Gold over 7.0 Metres, 2.84 g/t Gold over 7.0 Metres and 1.94 g/t Gold over 9.0 Metres in RC Infill Drill Program at the Goldboro Gold Project, Nova Scotia
NeXGold’s West Pit infill drilling confirms high-grade mineralisation, reinforcing the case for the upcoming feasibility study and final investment decision.
NeXGold Mining Corp. (NEXG) has released final assay results from its 36,239-meter reverse-circulation infill drilling program at the Goldboro gold project in Nova Scotia. The current disclosure covers 2,885 meters across 76 reverse-circulation holes focused on the West Pit, while assays for the East Pit remain pending.
The reported headline intercepts include: - RC-26-271: 7.0 m at 4.16 g/t Au from 13.0 m, including 1.0 m at 20.15 g/t. - RC-26-249: 2.0 m at 6.76 g/t from 14.0 m, including 1.0 m at 12.75 g/t; plus 4.0 m at 3.11 g/t from 20.0 m. - RC-26-273: 3.0 m at 6.46 g/t from 11.0 m, including 1.0 m at 18.88 g/t; plus 2.0 m at 2.83 g/t from 31.0 m. - RC-26-251: 7.0 m at 2.84 g/t from 11.0 m; plus 2.0 m at 1.55 g/t from 26.0 m. - RC-26-246: 3.0 m at 5.11 g/t from 36.0 m; plus 5.0 m at 1.48 g/t from 11.0 m. - RC-26-293: 6.0 m at 3.11 g/t from 11.0 m, including 1.0 m at 13.91 g/t. - RC-26-290: 9.0 m at 1.94 g/t from 13.0 m. - RC-26-279: 8.0 m at 1.84 g/t from 10.0 m. - RC-26-274: 5.0 m at 2.92 g/t from 14.0 m, including 1.0 m at 11.29 g/t. - RC-26-252: 3.0 m at 4.84 g/t from 10.0 m.
Additional material intervals detailed in Table 2 include RC-26-240 at 3.0 m of 4.70 g/t, RC-26-247 at 2.0 m of 6.27 g/t, RC-26-259 at 3.0 m of 4.78 g/t, and RC-26-286 at 7.0 m of 1.98 g/t. The release also repeats prior highlights from June 25, July 9, and August 19, 2026, for context; these are not new assays.
NeXGold stated that the reverse-circulation results will not be incorporated into the mineral resource estimate supporting the updated feasibility study. Any future mineral resource estimate incorporating the reverse-circulation program will be completed separately.
NeXGold Mining Corp. (NEXG) is an advanced gold developer rather than a producer. With the stock trading near C$1.14 and approximately 255 million shares outstanding, the company’s implied market capitalization stands at about C$291 million. The shares are currently near their 52-week low, significantly below the February 2026 high of C$2.31.
The recent release serves as an infill confirmation, supporting confidence in the location, grade, thickness, and continuity of shallow West Pit mineralization. This data is expected to assist in future Indicated-to-Measured classification work and dilution modelling. The company explicitly stated that the RC results will not be incorporated into the Mineral Resource Estimate (MRE) supporting the updated feasibility study, meaning the release does not change the resource or reserve statement. The equity story remains centered on the updated feasibility study, project financing, and the final investment decision.
While the prior headline hole of 61.22 g/t over 12.0 m, or 734.6 g-m, is much stronger than any new interval, that figure is not the correct anchor for an infill program. The relevant benchmark is the 2.82 g/t open-pit resource grade, which the new holes confirm. For the equity, this release represents incremental de-risking rather than a new-scale catalyst.
NeXGold Mining Corp. is a Canadian gold development company whose flagship asset is the 100%-owned Goldboro gold project in Nova Scotia. The project holds all major federal and provincial permits and is advancing early works construction while working toward an updated feasibility study and a final investment decision. A 2021 feasibility study for Goldboro contemplated an approximately 11-year open pit producing about 100,000 oz/y, with initial capital of C$271 million, an after-tax NPV of C$328 million at US$1,600/oz, and 95.8% gold recovery.
The company also owns the Goliath gold complex in northwestern Ontario, including the Goliath, Goldlund and Miller deposits. The Goliath complex carries proven and probable reserves of 1.267 moz Au at 1.30 g/t, plus measured and indicated resources of 2.139 moz Au. A 2023 prefeasibility study envisaged a 13-year operation producing about 90,000 oz/y of gold and 80,000 oz/y of silver. NexGold also holds the Niblack copper-gold-zinc-silver VMS project in southeast Alaska.
The company has no revenue and is pre-production. In Q1 2026, it reported a net loss of $11.4 million and cash of $104.5 million. The Q2 2026 six-month statement shows a net loss of $27.4 million, cash of $101.1 million and total equity of $230.4 million. The balance sheet was strengthened by a C$112.5 million equity raise in late 2025 and early repayment of a US$12 million debt facility.