NexGold Mining (TSXV: NEXG; OTCQX: NXGCF) announce potential positive outcomes as itworks towards the completion of its feasibility study for its Goliath gold complex located in the Wabigoon Greenstone belt in northwestern Ontario. NexGold Mining is a gold-focused company with assets in Canada and Alaska. The company expects the feasibility study in the second quarter of this year. The Goliath gold complex project utilized a combination of open-pit and underground mining methods to extract gold ore.
The company’s feasibility study is being prepared in accordance with National Instrument 43-101 – Standards for Disclosure for Mineral Projects.
Kevin Bullock, CEO of NexGold, commented: “We are pleased by the potentially positive optimizations and progress of our feasibility study for the Goliath gold complex, which we expect to release in Q2. We have incorporated the learnings from engaging with our potentially impacted communities with the goal of protecting traditional pursuits. The optimizations contemplated demonstrate the hard work of the NexGold team and our commitment to responsible development and environmental stewardship throughout all phases of our projects, including exploration, development, operations, decommissioning and reclamation and I am very proud of what we have been able to accomplish. These optimizations we are working on may have the potential to reduce the initial and sustaining capital costs as compared to our PFS through a reduction in the footprint for the tailings storage facility and the overall development footprint for the project. Also, with these modifications, there is potential for the earlier closure of the TSF and Waste Rock Storage Facility, which can also have the impact of reducing overall operating and financial assurance requirements from year four onwards.”
The NexGold team – in cooperation with partner Ausenco, WSP, SLR Consulting Canada, Minnow Environmental, RockEng and SRK – have worked to optimize tailings management with the goal of realizing reductions in the project footprint, as well as capital and operating costs and the potential for an overall improvement in operational efficiencies from our prior studies.
This has resulted in projected improvements to the GGC design, including in environmental protections. NexGold will Integrate commitments from the Goliath environmental assessment with discussions from community engagement activities. The company also reported it has incorporated these factors into its mine design and planning with the goal of improving the sustainability of the project. NexGold expects these enhancement to water management systems to result in reduced and minimized effluent discharges. It also hopes this will result in a commensurate reduction in the proposed effluent treatment plant. The company has also designed the life of the mine around meeting provincial quality objectives.
NexGold Mining also expects that progressive reclamation opportunities will be incorporated into the feasibility study to assist in the preparation and submission of a detailed mine closure plan. The company’s decision to optimize the mine sequencing will also potentially allow for earlier closure and remediation of the TSF and waste rock storage area, with the goal to be able to segment/isolate potentially acid generating and non-acid generating wastes as soon as possible.
NexGold will also minimize and reduce the areas of disturbance from mining activities through adding input from community engagement activities.
The proposed changes could reduce the overall construction requirements for the project, saving time and materials, which have the potential to reduce capital costs.
More information is posted on www.NexGold.com.
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