Combined, the Goliath and Goldboro projects cover a property package of more than 600 km2, with an established gold resource of 4.7 million ounces in the measured and indicated category and 1.3 million ounces in the inferred category.
NexGold president Morgan Lekstrom said the deal “will be a transformative transaction” that combines two near-term buildable projects in Canada
The Goliath project consists of an open-pit and underground gold mine, along with associated milling infrastructure including a tailings storage facility, located 20 km east of Dryden, Ontario. The gold complex has a pre-feasibility study that outlined a 9-year mine life producing on average 109,000 ounces a year. Its after-tax net present value is estimated at C$625 million (discounted at 5%), with a 41.1% internal rate of return.
The Goldboro project is a proposed open pit mine that has an approximate 11-year life with projected annual production of…
