NexGold Initiates a 25,000-metre Infill Diamond Drill Program at the Goliath Gold Complex, Ontario
NexGold leverages massive 2025 capital injection to advance secondary Goliath asset as Goldboro nears construction decision.
On January 28, 2026, NexGold Mining Corp. announced the initiation of a 25,000-metre infill diamond drill program at its Goliath Gold Complex in Ontario, specifically focusing on the Goldlund Deposit. This program, which began in late 2025 and will span 2026, aims to expand open-pit Mineral Resources and target high-grade plunging shoots. CEO Kevin Bullock characterized 2026 as a "transformational year," primarily focused on the final investment decision (FID) for the permitted Goldboro Gold Project in Nova Scotia, while simultaneously optimizing the Goliath asset through feasibility studies and permitting.
The news is categorized as Routine - Positive. While a 25,000-metre program is substantial, it is a follow-through on the company’s stated strategy to advance its multi-asset pipeline following the late 2024 acquisition of Signal Gold and the massive $112.5 million financing closed in October 2025.
- Resource Optimization: The drilling targets the Goldlund deposit to improve resource confidence. With 1.26 million ounces of gold in Proven & Probable reserves at Goliath, the impact is incremental to the existing resource base.
- Strategic Allocation: The primary value driver remains the Goldboro project. This news confirms that management is not neglecting the Ontario assets while waiting for the Goldboro FID, but it does not represent a fundamental shift in company valuation.
- Operational Consistency: The move is in line with 2026 priorities outlined in the January 12, 2025, update, showing management is meeting its stated timelines.
NexGold Mining Corp. is a Canadian gold developer. Its flagship project is the Goldboro Gold Project in Nova Scotia, which is now fully permitted for construction and operation. - Goldboro: A high-grade open-pit project with a 2025 drill program that confirmed significant thickness and grade. - Goliath Gold Complex: A secondary project in Ontario consisting of the Goliath, Goldlund, and Miller deposits. It serves as the "Project 2" in their sequence to reach 200,000+ ounces per year production.