Guysborough County, Nova Scotia, Canada
Feasibility Study Completed
Permitting and compliance underway
1,150,200 ounces (15.8 million tonnes at 2.26 g/t gold)
2.58 million ounces (21.6 million tonnes at 3.72 g/t gold)
484,000 ounces (3.18 million tonnes at 4.73 g/t gold)
10.9 Years
100,000 ounces
To date, the Company has arranged access to the Property for the purpose of exploration through agreements with both private and Crown entities. Much of the Property, including all the BR, EG historical workings, is underlain by Crown Land. Similarly, access to private lands, and securing agreements with landowners has been generally manageable. At the effective date of this Technical Report, the Company held access agreements that specifically apply to surface core drilling. The Company has the necessary Crown Land permits for additional drilling and trenching or expects to receive them through normal exploration permitting process.
The Project will require the acquisition of some privately owned property. The Company has engaged a third-party to complete the relevant property assessments, negotiate property acquisitions, and manage and document the process. Should some individuals refuse to sell through this process, the Company would then pursue the expropriation process to acquire the property which could cause delays, however, would unlikely cause any delays in the overall permitting process.
The Company continues to successfully manage the Industrial Approval (IA) related to the underground Bulk Sample collected in 2018.
The presence of past mining operation infrastructure, including several historical tailings sites associated with the past operation of the historical Boston Richardson Mine within the Gold Brook Lake-Seal Harbour Lake watershed, are recognized as important environmental site factors. Provincial regulators indemnified Orex in 1995 from any environmental liabilities resulting from historical mining activities, assuming that old tailings storage areas are not impacted during exploration or mining activities. A historic tailings management plan will be developed in consultation with Nova Scotia Environment and Climate Change (NSECC) to manage the areas that will be directly disturbed by the Project.
The 2022 Feasibility Study outlines the main project infrastructure components, including the mine, process plant, TMF (Tailings Management Facility), site accommodation facilities, access roads, power supply and distribution, freshwater supply and distribution, and a water treatment plant.
The Property, located on the eastern shore of Nova Scotia, Canada, approximately 1.6 km north of the village of Goldboro, benefits from substantial nearby infrastructure, services, and skilled labor. The proximity to Route 316 reduces infrastructure costs compared to remote sites. The Property is 175 km northeast of Halifax and 60 km southeast of Antigonish. Route 316 provides access via Goldbrook Road, which crosses the Property near historic mining features. Elevation is approximately 70 m above sea level, and logging roads offer further site access.
The earthworks primarily involve preparing mine infrastructure, process plant, and TMF. On-site haulage roads will support heavy traffic, with dual-lane roads (16.5 m wide) between pits and stockpiles and single-lane roads (11 m wide) to the TMF.
Approximately 5,300 m² of ancillary buildings (excluding accommodation and process plant structures) will be pre-engineered steel structures on conventional foundations, with space allocated for future expansion.
Power supply will come from Nova Scotia Power’s 25 kV distribution line along Route 316, requiring a 1.6 km tap line to the site substation. The distribution network will include 13.8 kV overhead lines for site infrastructure. Peak power demand is estimated at 10 MW, with an average of 7.5 MW.
Water supply infrastructure includes an intake structure, booster stations, and transmission pipelines from Gold Brook Lake to the mill and potable water facilities. Potable and process water flow rates are estimated at 22 m³/h, with potable water treatment designed to meet Canadian Drinking Water Guidelines.
Wastewater treatment is divided into two units: one for employee accommodations (350 people) and another for other facilities (84 people). Sewage treatment aligns with Atlantic Canada Wastewater Guidelines.
The Mine Water Management Plan (MWMP) ensures compliance with regulatory discharge requirements, including:
Predictive modeling indicates that water at some locations may only require total suspended solids (TSS) removal for discharge, while contingency measures (e.g., shutoff valves) will redirect non-compliant water to treatment systems. MWMP objectives include:
The Feasibility Study, with a report date of January 11, 2022, was completed by Nordmin Engineering Ltd. (“Nordmin”) as Lead Mining and Geological Consultant. Ausenco Engineering Canada Inc. (“Ausenco”) acted as Metallurgical and Processing Consultant, Knight Piésold Ltd. (“Knight Piésold”) as Tailings Consultant, GHD Ltd. (“GHD”) as Site Water Management and Environmental Consultant, Lorax Environmental Services Limited (“Lorax”) as Geochemistry Consultant, and McCallum Environmental Ltd. (“McCallum”) as Consultation and Permitting Consultant.
| Resource Type | Gold Cut-off (g/t gold) | Category | Tonnes | Grade (g/t gold) | Gold Troy Ounces |
| Open Pit | 0.45 | Measured | 7,680,000 | 2.76 | 681,000 |
| Indicated | 7,988,000 | 2.89 | 741,000 | ||
| Measured + Indicated | 15,668,000 | 2.82 | 1,422,000 | ||
| Inferred | 975,000 | 2.11 | 66,000 | ||
| Underground | 2.40 | Measured | 1,576,000 | 7.45 | 377,000 |
| Indicated | 4,350,000 | 5.59 | 782,000 | ||
| Measured + Indicated | 5,925,000 | 6.09 | 1,159,000 | ||
| Inferred | 2,206,000 | 5.89 | 418,000 | ||
| Combined Open Pit and Underground* | 0.45 and 2.40 | Measured | 9,255,000 | 3.56 | 1,058,000 |
| Indicated | 12,338,000 | 3.84 | 1,523,000 | ||
| Measured + Indicated | 21,593,000 | 3.72 | 2,581,000 | ||
| Inferred | 3,181,000 | 4.73 | 484,000 |
* Combined Open Pit and Underground Mineral Resources; The Open Pit Mineral Resource is based on a 0.45 g/t gold cut-off grade, and the Underground Mineral Resource is based on 2.40 g/t gold cut-off grade.
Mineral Resource Estimate Notes
Reported from within a mineralization envelope accounting for mineral continuity.
| Category | Area | Cut-off Grade (g/t gold) | Tonnes (t) | Diluted Grade (g/t gold) | Contained Gold Metal (Troy ounces) |
| Probable Mineral Reserve | East Pit | 0.45 g/t | 5,468,300 | 2.54 | 446,000 |
| Probable Mineral Reserve | West Pit | 0.45 g/t | 10,330,600 | 2.12 | 704,200 |
| Total | 0.45 g/t | 15,798,900 | 2.26 | 1,150,200 |
Mineral Resource Estimate Notes
Reported from within a mineralization envelope accounting for mineral continuity.
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Adam Larsen, P.Geo., Director of Exploration, of the Company, is considered a Qualified Person for the purposes of National Instrument 43-101 and has reviewed and approved the scientific and technical information contained on this website for matter relating to the Goliath Gold Complex.
Kevin Bullock, P. Eng., President, CEO and Director of NexGold, is a “qualified person” within the meaning of NI 43-101 and has reviewed and approved the scientific and technical information on this website for matters regarding the Goldboro Project.