NexGold Mining samples 7.13 g/t gold over 2 metres at Goliath, Ontario

NexGold Mining Corp. [TSXV-NEXG; OTCQX-TSRMD] provided an update on the fieldwork conducted this season at the Goliath Project, northwestern Ontario, and has commenced an expanded exploration program, including soil geochemistry and prospecting and mapping programs at its Goliath gold complex, located in Northwestern Ontario. These added programs target the northeast end of the Goldlund claim block, which has seen limited exploration.

Highlights: Confirmatory results at the Fold Nose, with significant gold found uptrend of previous drilling; Channel sample highlights: 7.13 g/t gold over 2.00 metres, including 15.70 g/t gold over 0.75 metre; 3.18 g/t gold over 2.68 metres, including 7.53 g/t gold over 0.78 metre; 5.10 g/t gold over 0.52 metre; and 5.09 g/t gold over 0.47 metre.

Prospecting expansion over Goldlund North; soil sampling grids over three additional targets: Miller deposit strike extension; Miles target; and the Cabin Bay target.

Morgan Lekstrom, president, commented: “Showing continued gold mineralization on surface are indicators of a much larger system of mineralization. This is a positive step as we set out on our 25,000-metre drill program to expand in current areas and make new discoveries in areas like these. We are expanding our exploration program to investigate the northeast end of the Goldlund claim package, which is a very underexplored area. Newly collected data from this program in addition to our geophysical signatures will help outline more and more drill targets. We are lucky to be target rich on our 65-kilometre strike.:

In May 2024, the company commenced a field exploration program consisting of prospecting, mapping, channel sampling and soil geochemistry sampling. The primary goal of this program is to gather geological information, discover new gold anomalies, and improve and derisk existing areas of interest to develop future drill targets. The team has focused on several key areas, including the Fold Nose, South Syncline and Far East targets on the Goliath claim block and the Interlakes, Wild Cats, Goldlund South and Cabin Bay targets on the Goldlund claim block.

Within the Fold Nose area, the exploration team completed channel sampling and detailed mapping to better understand the structural controls of gold mineralization in that region. The purpose of this detailed study was to confirm if gold mineralization in TL22-637 would link up to surface samples through a plunging structure. Multiple structural measurements identified lineation (L2) plunging toward previous intercepted gold values in TL22-637, which intercepted 0.42 g/t gold over 38.5 metres.

On surface, 13 channel samples returned from this program were greater than one gram per tonne gold, with significant results of 7.13 g/t gold over 2.00 metres, including 15.70 g/t gold over 0.75 metre, 3.18 g/t gold over 2.68 metres, including 7.53 g/t gold over 0.78 metre, 5.10 g/t gold over 0.52 metre, 5.09 g/t gold over 0.47 metre and 0.38 g/t gold over 6.61 metres. In total, 175 channel samples obtained an average 0.44 g/t gold within the Fold Nose area (excluding standards). Lateral strike extent of gold mineralization appears consistent over at least 35 metres, which will be investigated through future surface sampling and drilling.

An expanded field program has been initiated with a larger prospecting team being deployed to the northeast sector on the Goldlund claim block, which has had little previous exploration, and several new soil geochemistry sampling grids on the strike extension of the Miller deposit as well as the Cabin Bay and Miles targets. These programs complement the 25,000-metre drill program and aim to target as part of the company’s multistage exploration program that focuses on discoveries and opportunities for growth at the complex.

NexGold’s Goliath gold complex (which includes the Goliath, Goldlund and Miller deposits) benefit substantially from excellent access to the Trans-Canada Highway and related power and rail infrastructure; as well as close proximity to several communities, including Dryden, Ontario.