NexGold Intersects 12.06 g/t Gold over 6.0 Metres and 3.84 g/t Gold over 18.0 Metres During Infill Drill Program at Goldboro
NeXGold infill RC drilling at Goldboro confirms high-grade gold near surface, though the program is routine de-risking without new discovery impact.
NeXGold Mining Corp. (NEXG) reported assay results from 72 reverse-circulation (RC) holes totaling 3,420 meters at the Goldboro gold project’s west pit. These results are part of an ongoing 40,000-meter infill drill program designed to upgrade Indicated resources to Measured and inform early-year mine planning.
Key intercepts included 12.06 g/t Au over 6.0 m (RC-26-147), 9.31 g/t Au over 7.0 m (RC-26-144), and 3.84 g/t Au over 18.0 m (RC-26-102). Many holes encountered mineralization at the 50-meter depth limit.
The company also disclosed a C$10 million flow-through financing and a share-based royalty payment to Sprott.
NeXGold Mining Corp. (NEXG) is advancing its Goldboro project, which is fully permitted and moving toward a construction decision. The company’s RC infill program is designed to upgrade resources and de-risk the first years of mining, serving as a purely confirmatory effort.
The reported grades align with previous infill results, such as 61.22 g/t over 12.0 m from June 25, 2026, and are not unexpected.
NeXGold’s stock price has fallen from C$2.40 in February 2026 to C$1.18, reflecting a broader cooling of the gold equity market and profit-taking after the permitting and capital raise. These infill results are unlikely to reverse that trend.
NeXGold Mining Corp. (NEXG) is a Canadian gold developer managing two primary assets: the fully permitted Goldboro open-pit/underground project in Nova Scotia and the Goliath Gold Complex in Ontario. The company also holds the Niblack polymetallic project in Alaska.
Goldboro contains 2.6 million ounces of measured and indicated resources, with a feasibility study net present value of C$328 million at a US$1,600/oz gold price. The Goliath Gold Complex holds 1.27 million ounces in reserves, with a pre-feasibility study net present value of C$336 million at a 5% discount rate.
Following a C$112.5 million bought deal in late 2025, the company reported C$105 million in cash as of Q1 2026 and carries no material debt. A construction decision on Goldboro is currently pending a feasibility study update.