NexGold Mining drills visible gold at Goliath deposit, Ontario
NexGold Mining Corp.’s [TSXV: NEXG; OTCQX: NXGCF] recent drilling has intersected significant visible gold located below the current mineral resource on the eastern end of the C zone at the Goliath deposit at the Goliath gold complex, Ontario. This was intersected approximately 70 metres below a past mineral occurrence of 65.2 g/t gold over 3.0 metres, including 193 g/t gold over one metre.
Goliath mineral resource expansion drilling program: The visible gold found in drill hole TL24-678 was encountered approximately 70 metres downdip of previously released hole TL20-520 which intersected 1.35 g/t gold over 14.7 metres, including 6.00 g/t gold over 2.0 metres, and, 15 metres farther down the hole, 65.2 g/t gold over 3.0 metres, including 193 g/t gold over 1.0 metre.
This drilling is part of the 25,000-metre drill program initiated in August, which has focused on opportunities for growth, expansion and discoveries within the project’s 65-km strike and 330-km property package. This phase of the program has targeted the downdip extensions of known high-grade mineralization with the intent of adding mineral resources to the future mining plan. The drill initially targeted the C zone East area, which is a pocket of mineralization located in the C zone on the eastern end of the deposit area. Future mineral resource expansion drilling at Goliath will also target the Main zone’s Central and East high-grade shoots as well as explore for potential high-grade shoots along strike to the west.
Morgan Lekstrom, president of NexGold, commented: “Extending what is showing to be another high-grade zone at the Goliath deposit is just another example of the great continuity of the deposit but also shows that there is visible gold present to guide our program. We believe we have just touched the surface at the Goliath deposit and that there is significant potential for more in the deeper holes aiming to find the higher grades.”
The company has completed the Interlakes drill program with a total of 4,550 metres in 13 drill holes. The drill holes investigated several favourable targets identified in recent desktop studies and reconnaissance traverses. Results are pending and will be announced alongside the results from the C zone East area when available.
NexGold’s Goliath gold complex (which includes the Goliath, Goldlund and Miller deposits) is located in northwestern Ontario. The deposits benefit substantially from excellent access to the Trans-Canada Highway, related power and rail infrastructure and close proximity to several communities, including Dryden, Ontario.
The company also owns several other projects throughout Canada, including the Weebigee/Sandy Lake gold project joint venture and the Gold Rock grassroots gold exploration property. In addition, NexGold holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS (volcanogenic massive sulphide) project, located adjacent to tidewater in southeastern Alaska.