NexGold Hits 31.29 g/t Gold at Goldboro as Infill Program Nears 40,000 m

Important Disclosures:

1. NexGold Mining Corp. is a billboard sponsor of Streetwise Reports. The company pays a monthly sponsorship fee of US$3,000–US$6,000 for banner advertising and an enhanced company profile page. Streetwise Reports’ editorial content is fully independent and is not influenced by sponsorship. 
2. As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of NexGold Mining Corp.
3. Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. 
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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

The latest drill results from NexGold Mining Corp. (NEXG:TSX.V; NXGCF:OTCQX; TRC1:FSE) have grabbed the attention of precious metals investors.

Key Takeaways

• NexGold reported new RC (reverse circulation) infill drilling results from its Goldboro Gold Project in Nova Scotia, part of an expanded 40,000-meter (m) program that's now 76% complete
• Hole RC-26-226 returned 5.26 g/t Au (gold) over 7.0 m, including a high-grade interval of 31.29 g/t Au over 1.0 m
• Hole RC-26-195 returned 7.08 g/t Au over 5.0 m, including 25.11 g/t Au over 1.0 m
• Hole RC-26-163 returned 14.97 g/t Au over 2.0 m, plus a separate 0.90 g/t Au over 11.0 m interval
• The program was expanded from 30,000 to 40,000 m in early July, after a recently closed CA$10 million flow-through financing
• The objective of the current drill program is to boost mineral resource confidence ahead of a potential final investment decision and an updated Feasibility Study, both expected later in 2026

Recent Results from 85 Holes Drilled in West Pit

NexGold Mining Corp. (NEXG:TSX.V; NXGCF:OTCQX; TRC1:FSE) released new drill results on August 19, 2026, from its 40,000 m RC infill drill program at the Goldboro gold project in Nova Scotia. The high-density RC program is focused on infilling specific areas of the Goldboro mineral resource within the planned west and east pits, drilled at a nominal spacing of 12.5 m, to depths of up to 50 m.

The results announced cover 3,591 m of drilling from 85 RC holes completed within the west pit area. Selected highlights from the release included:

• 5.26 g/t Au over 7.0 m (from 41.0 m to 48.0 m), including 31.29 g/t Au over 1.0 m (from 44.0 to 45.0 m) in drill hole RC-26-226
• 7.08 g/t Au over 5.0 m (from 9.0 m to 14.0 m), including 25.11 g/t Au over 1.0 m in drill hole RC-26-195
• 14.97 g/t Au over 2.0 m (from 38.0 m to 40.0 m), including 29.62 g/t Au over 1.0 m and 0.90 g/t Au over 11.0 m (from 25.0 m to 36.0 m) in drill hole RC-26-163
• 5.42 g/t Au over 3.0 m (from 36.0 m to 39.0 m), including 15.69 g/t Au over 1.0 m, 5.10 g/t Au over 1.0 m (from 7.0 m to 8.0 m), and 1.09 g/t Au over 9.0 m (from 25.0 m to 34.0 m) in drill hole RC-26-168
• 1.10 g/t Au over 10.0 m (from 7.0 m to 17.0 m) and 2.44 g/t Au over 4.0 m (from 33.0 m to 37.0 m) in drill hole RC-26-223
• 18.54 g/t Au over 1.0 m (from 16.0 m to 17.0 m) in drill hole RC-26-176
• 1.40 g/t Au over 7.0 m (from 32.0 m to 39.0 m) and 7.03 g/t Au over 1.0 m (from 6.0 m to 7.0 m) in drill hole RC-26-219
• 1.61 g/t Au over 7.0 m (from 16.0 m to 23.0 m) in drill hole RC-26-227

According to the release, the company believes the results are consistent with its current understanding of mineralization at Goldboro, with intersecting grades and thicknesses comparable to widely spaced diamond drill intercepts previously completed in the area.

NexGold's objective for the RC program is to build a high-density dataset to support future reclassification of the mineral resource from Indicated to Measured. This data set will be used alongside more than 180,000 m of existing diamond drill data to support planning for the initial years of mining. Results are expected to be incorporated into a future updated Mineral Resource Estimate (MRE), separate from the ongoing Feasibility Study update. Because the updated Feasibility Study is expected to be completed before the RC program finishes, these results will not be incorporated into the MRE supporting that Feasibility Study update.

The RC infill program is expected to continue through the third quarter of 2026, with additional assay results to follow as they become available.

NexGold is a gold exploration company focused on mining in Nova Scotia, Ontario, and Alaska, with a portfolio of other projects all across Canada.

Gold Hits Highest Level Since June

Junior miners and exploration companies hit the ground running this year after gold rallied to above US$5,500 per ounce in January. Many companies chose to begin exploration or production amid these highs. While prices have since fallen, and even dipped below US$4,000 in June, prices are still up 31% compared to August 2025, and Gold.org wrote that: "[T]he stage is set for a possible breakout. On the upside, clear catalysts — a worsening economy or renewed geopolitical shock, a shift towards lower interest-rate expectations, or a wave of dip buying — could reignite gold's momentum and lift it back towards US$4,500/oz or above." Even stronger is a belief that ". . . due to increased central bank buying and global tensions, JPMorgan predicts that gold will reach US$6,300 per ounce in 2026," according to Yahoo Finance.

On August 19, 2026, gold was trading at US$4,511 per ounce — the highest the precious metal has reached since June — with Trading Economics writing that the rate is ". . .  tracking the rally for long-dated US Treasuries after the Treasury Department doubled the buyback of notes and bonds in the upcoming financial quarter. It marked another effort by Washington to contain soaring yields in the longer portion of the curve, following Secretary Bessent's call for higher limits on the Federal Reserve's FIMA facility. Lower borrowing costs reduce the opportunity cost for markets to hold precious metals, which carry no coupons."

Further, the article went on to say: "On top of that, the initial increase in dollar liquidity due to the measures also aids gold prices. Meanwhile, minutes of the Federal Reserve's rate-setting meeting confirmed that a portion of policymakers argued that raising rates this year could prevent sharper inflationary pressure later on."

The metals sector as a whole is only showing signs of improvement. On May 7, 2026, Brian Taylor of Recycling Today said that the World Bank Group has projected that its metals and minerals price index will rise 17% in 2026.

Red Cloud Reiterates "Buy" and CA$4.30 Target

National Bank Financial analyst Alex Terentiew reiterated a "Buy" rating and maintained a CA$5.50 target price.

Ron Stewart, MD, of Red Cloud wrote about NexGold on June 26, 2026, reiterating a "Buy" rating and price target of CA$4.30. The analyst looked forward to the Feasibility Study and commencement of production, writing: "We expect first gold production in 2028 as it ramps up to 100K oz/a initially. Production at Goliath is expected a few years later, taking our modeled production to >200K oz/a by 2032."

Goldboro Feasibility Study Update Coming Later in 2026

According to NexGold's investor presentation, the company plans to update the Goldboro MRE and Feasibility Study following infill drilling, incorporating revised operating costs, capital expenditures, and gold price assumptions. Other 2026 activities include detailed engineering, project scheduling, contracting and procurement, long-lead equipment procurement, project financing, and an early works construction program.

At the Goliath Gold Complex, NexGold is working on completing its 25,000 m of infill drilling at Goldlund, along with exploration, project optimization, environmental baseline studies, and permitting work. Goldboro priorities include close-spaced infill drilling and four exploration targets — Stewart, Fowler, Armstrong, and Hurricane — with a construction decision targeted for 2026.

Ownership & Share Information¹

NexGold Mining Corp. has a market cap of CA$340.40 million, with 255.94 million shares outstanding. The company's 52-week range is CA$0.77-CA$2.40. Institutions own 66% of shares, while Management & Insiders own 2%. The remaining 32% of shares are Retail. 

Frequently Asked Questions

Q: What is infill drilling?
A: Infill drilling is drilling conducted between existing drill holes to provide more detailed information about the location, thickness, and grade of mineralization.

Q: What is reverse circulation (RC) drilling?
A: Reverse circulation drilling is a method that uses compressed air to bring rock samples to the surface through an inner drill tube. It is commonly used for mineral exploration.

Q: What does g/t Au mean?
A: g/t Au means grams of gold per tonne of rock. It is a standard measurement used to report gold concentrations in mineral exploration.

Q: What is a mineral resource estimate?
A: A mineral resource estimate is an assessment of the quantity and grade of mineralization in a deposit based on geological and exploration data.

Q: What is a Feasibility Study in mining?
A: A Feasibility Study is a detailed assessment of a proposed mining project's technical, economic and operational viability. It is used to support development and investment decisions.

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