-- NeXGold Mining (NEXG.V), which saw its shares gain near 5% today, reported Friday additional results from the ongoing diamond drilling program at the Goliath gold complex in Ontario.
The company in a statement cited highlights including 1.79 grams per tonne gold over 25.6 meters, 3.22 g/t gold over 10.5 m, and 1.49 g/t gold over 11.0 m.
NeXGold said the 25,000-meter drill program is focused on the Goldlund deposit, with holes designed to infill and potentially expand open pit mineral resources. It added the results presented include 777 metres of diamond drilling in three drill holes (GL-25-015, GL-25-016, and GL-26-009) that infill and expand mineralization in Zone 4 of the Goldlund Deposit and specifically within Inferred Resources located at the northeast end of the open pit Mineral Resource.
"I am encouraged by these results, along with those previously reported from this area, which continue to demonstrate a strong tenor of gold mineralization over a 100-m dip extent, and remain open at depth," President and Chief Executive Officer Kevin Bullock said.
"Looking ahead, our objectives for this program are clear -- upgrade the resource categorization at Goldlund and build mineral resource confidence at depths consistent with open pit mining," Bullock added. "To this effect, we are drilling this area of Inferred Mineral Resources at a spacing consistent with Indicated Mineral Resources at other areas of the deposit."
Shares in NEXG rose $0.07 or 4.6% to $1.59 yesterday.