NexGold Mining Corp. (Ticker: NEXG.v or NXGCF for US investors), a gold-focused mining company with flagship assets in Ontario and Alaska, has entered into a transformative merger with Signal Gold Inc. This strategic acquisition brings together two premier gold projects, the Goliath Gold Complex in Northwestern Ontario and the Goldboro Gold Project in Nova Scotia, creating a powerhouse in Canadian gold development. The combined entity is set to leverage robust project synergies and financial backing to fast-track production goals exceeding 200,000 oz annually.

Combined Gold Assets and Resource Highlights

The merger consolidates 4.7M oz of measured and indicated gold resources and 1.3M oz inferred resources, distributed between NexGold’s Goliath Gold Complex and Signal Gold’s Goldboro Project. These projects benefit from advanced permitting status, including federal environmental approvals for Goliath and provincial approvals for Goldboro. This positions the company as a diversified, multi-asset developer, significantly reducing single-asset risk while enhancing scalability.

Goliath Gold Complex: A World-Class Project

Located 20 km east of Dryden, Ontario, the Goliath Gold Complex comprises the Goliath, Goldlund, and Miller deposits. It features:

• Mineral Reserves: 210,000 oz Au and 731,000 oz Ag (Proven), and 1.1M oz Au and 993,000 oz Ag (Probable).
• Robust Infrastructure: Proximity to the Trans-Canada Highway, Hydro One power, CP Rail, and skilled local workforce.
• Production Potential: A March 2023 PFS estimated a $625M NPV5% and 41.4% IRR at US$2,150/oz gold, with an annual output of 109,000 oz Au for the first nine years.
• Permitting: Federal environmental approval was secured in 2019, with additional permits underway to support construction and operation.

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Exploration efforts have identified new high-grade lode-gold targets and extensions to the Goldlund and Miller deposits, demonstrating significant potential for resource expansion.

Goldboro Gold Project: High-Grade Opportunity in Nova Scotia

Signal Gold’s Goldboro Gold Project is an advanced-stage development featuring:

• Mineral Reserves: 1.15M oz of gold at 2.26 g/t.
• LOM Metrics: 11 years of production averaging 100,000 oz Au annually, with an after-tax NPV5% of $328M at US$1,760/oz gold.
• Infrastructure: A 4,000 tpd mill and an average recovery rate of 95.8%.
• Expansion Potential: Ongoing exploration westward and at depth promises to enhance resource estimates and extend the mine’s life.

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Strategic Outlook

This merger positions NexGold as a significant player in mid-tier gold production, offering:

• Enhanced financial flexibility.
• A diversified project portfolio in mining-friendly jurisdictions.
• Strong near-term growth prospects through advanced exploration and permitting.

With robust resource bases, streamlined operations, and a seasoned leadership team, NexGold is poised to redefine its status in the Canadian gold mining sector.

https://nexgold.com/nexgold-and-signal-gold-announce-merger-to-create-one-of-canadas-most-advanced-near-term-gold-developers-with-a-combined-4-7-million-gold-ounces-of-measured-and-indicated-resources-and-a/

Posted on behalf of NexGold Mining Corp.