08:50 AM EST, 12/05/2024 (MT Newswires) -- NexGold Mining ( NXGCF ) reported on Thursday high-grade results from the C Zone East at the Goliath deposit, part of the Goliath Gold Complex in Ontario.

Highlights from visible gold core sample include 6.3 meters of 50.81 grams per tonne (g/t) gold, including 635 g/t gold over 0.5 meters.

"Today, we have announced another example that the high-grade, down-dip potential of the Goliath deposit is just being scratched," said Morgan Lekstrom, president of NexGold. "Having the open pit capability at Goliath, along with additional high-grade hits in the underground, continues our belief that we are seeing a much larger system at play."

The results are part of a 25,000-meter drill program the company started in August.

After C Zone East, NexGold said it mobilized the drill to the Far East target located on the northeastern side of the Goliath claim package.

NexGold's share price fell 1.5% yesterday to $0.67 on the TSXV.