NexGold Mining Corp. (TSXV: NEXG) (OTCQX: NXGCF) (“NexGold” or the “Company”) is pleased to announce that the Company has commenced a multi-stage exploration program, including a 25,000-metre diamond drilling program at its Goliath Gold Complex (the “Project”) located in northwestern Ontario. Phase 1 of this campaign is focused on the area between the Goliath and Goldlund deposits, which are separated by 25 kilometres and have seen very little historical drilling in between.
Highlights:
- 25,000-Metre Expansion and Discovery Drilling Program
- Phase 1 to include 4,000 metres at Interlakes target between Goliath and Goldlund (Figure 1)
- Expected 9-12 months of consistent drilling activity
- Three highly-anticipated targets:
- Down dip at Goliath
- Strike Extension of Goldlund
- The Interlakes target between Goliath and Goldlund
Morgan Lekstrom, President of NexGold, commented: “We are refocusing the Company on a dual path that emphasizes high potential exploration and working through the provincial permitting along with local steps for a build. Starting with the very exciting Interlakes target and then expanding on higher-grade areas at Goliath and Goldlund, this drill season will mark a new step for NexGold and our Goliath Gold Complex. A new revitalization of exploration is being undertaken to show the potential scale and size of this district while advancing key discovery areas within our 65 kilometre strike length. Having 3 million ounces already in the Company and the signs of adding multiple other areas on the strike, this is a perfect time to focus the Company on creating a larger district.”
Phase 1 Drilling Program
The first phase of the 25,000 metre drill program has been initiated and will focus on opportunities for growth, expansion and discoveries within the Project’s 65 kilometre strike. This will be accomplished by targeting structural trends across the belt that are similar to known deposits and have evidence of gold mineralization.
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