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NexGold Mining Extends RC Drill Program at Goldboro to 40,000 Metres

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NexGold Mining (NEXG.V) on Thursday said it is extending its reverse circulation infill drill program at the Goldboro project in Nova Scotia by 10,000 meters, to 40,000 meters based on recent assay results.

Select highlights include 12.06 grams per tonne (g/t) gold over 6.0 meters and 3.84 g/t gold over 18.0 meters, a statement said.

The program is focused on selected areas of the deposit and is designed to infill specific areas of the mineral resource within the West and East pits. Drilling has intersected mineralization at Goldboro typical of the deposit, NexGold said.

NexGold is also issuing 800,833 shares to Sprott Streaming at a deemed price of C$1.1939 per share to satisfy an upcoming minimum payment of $675,000 due under a 2022 royalty agreement.

NexGold shares were last seen up C$0.05, or 4.2%, to C$1.23 on the TSX Venture Exchange.

Price: $1.23, Change: $+0.05, Percent Change: +4.24%

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