Northwire Canada EditionWednesday, August 5, 2026
Sign inSubscribe
Northwire
⌕
LTH 0.470 −7.8% APN 0.020 +0.0% ARTG 35.10 +4.3% STND 0.075 −11.8% AAZ 0.040 +14.3% LIFT 3.33 +0.6% LIB 0.810 +1.2% PEMC 0.050 +11.1% ELE 23.49 +7.5% AMCO 0.210 +2.4% TGOL 0.115 +9.5% SSRM 37.45 +4.5% SALT 1.51 +9.4% MON 0.650 +12.1% AZS 0.610 +28.4% NIO 0.140 +7.7% LTH 0.470 −7.8% APN 0.020 +0.0% ARTG 35.10 +4.3% STND 0.075 −11.8% AAZ 0.040 +14.3% LIFT 3.33 +0.6% LIB 0.810 +1.2% PEMC 0.050 +11.1% ELE 23.49 +7.5% AMCO 0.210 +2.4% TGOL 0.115 +9.5% SSRM 37.45 +4.5% SALT 1.51 +9.4% MON 0.650 +12.1% AZS 0.610 +28.4% NIO 0.140 +7.7%
M&A / Property

Toogood Gold Corp. Options Golden Nugget Property, Expanding Contiguous and Highly Prospective Toogood Gold Project in Newfoundland

By The Northwire Desk — AI Analysis Oct 01, 2025 · 07:02 TGC · 0.43 Toogood Gold Corp.
TGC · Price

Executive Summary

  • Toogood Gold Corp. announced it has acquired an option to earn a 100% interest in the 3,000‑hectare Golden Nugget Property adjacent to its flagship project in Newfoundland.
  • The property adds >12 km of underexplored gold‑bearing strike and hosts historic outcrop samples with average grades of ~7 g/t Au (some up to ~26 g/t Au) over an 8.5‑km coastline trend.
  • The option agreement requires a total consideration of CAD $700,000 (CAD $330,000 cash + CAD $370,000 common shares) payable over four years, plus a 2.0% NSR royalty with an optional buy‑out for 50% of the royalty at CAD $1.5 million before commercial production.

Key Details

  • Property Overview
  • Golden Nugget comprises ~3,000 ha and >12 km of contiguous gold trend.
  • Adds >10 km of Mélange Contact, bringing total prospective strike to >15 km across the property.

  • Historic rock sampling:

    • 148 samples averaging ~7 g/t Au; 87% sourced from outcrops.
    • 36 samples along a 6.5‑km trend averaging ~26 g/t Au; 83% outcrop‑sourced.
    • High‑grade channel samples reported: 50.2 g/t Au over 1.1 m, 87 g/t Au over 0.8 m, 29.2 g/t Au over 2.5 m.

  • Exploration Plans

  • Comprehensive coastline rock sampling and mapping program to commence mid‑October to verify historic results.

  • Option Agreement Terms

  • Cash Payments (CAD): $50k within 1 yr, $70k within 2 yrs, $90k within 2 yrs, $120k within 2 yrs (total $330k).
  • Common Shares: Issued at the Consideration Share Price:
    • 90k shares after TSX‑V approval,
    • 40k shares at 1 yr,
    • 60k shares at 2 yr,
    • 80k shares at 3 yr,
    • 100k shares at 4 yr (total $370k value).

  • Royalty: 2.0% NSR royalty granted to optionors; optionee may acquire 50% of the NSR for CAD $1.5 million prior to commercial production.

  • Qualified Person

  • Colin Smith, M.Sc., P.Geo., CEO and Director, reviewed and approved technical information (not independent).

Notable Quotes

“The Golden Nugget acquisition represents a compelling opportunity for Toogood, adding 3000 hectares and >12 kilometers of highly prospective strike along a highly underexplored, fertile gold trend,” – Colin Smith, CEO, Toogood Gold Corp.

All forward‑looking statements are subject to risks and uncertainties detailed in the release.

Read the original news release →

More from Toogood Gold Corp.

Jul 20, 2026 · 07:01

Toogood advances Table Mountain toward maiden drilling with phase 2 CSAMT surveys and claim expansion.

M&A / Property Jul 16, 2026 · 07:01

Toogood’s TSXV approval finalizes its Nevada option, advancing the drill timeline for the project.

M&A / Property Jul 07, 2026 · 07:02

Toogood advances its Nevada epithermal project to the drill-ready stage amid steady exploration spending.

Drill Results Jun 02, 2026 · 07:31

Toogood Gold Advances Nevada Table Mountain Exploration as Newfoundland Drilling Momentum Slows

Drill Results May 29, 2026 · 20:31

Toogood Gold Seals Nevada Bet as Newfoundland Flagship Lurches Toward Dilution at All-Time Lows

Drill Results Mar 25, 2026 · 14:25

Toogood Gold samples up to 76.89 g/t Au at Toogood

Drill Results