NexGold Mining (TSXV: NEXG) has begun site preparation and early works construction at its Goldboro gold project in Nova Scotia, putting the asset on track for a formal build decision later this year.
The company’s board expects to consider a construction decision in the fourth quarter of 2026. Full-scale construction is currently targeted to start in the first quarter of 2027.
The early works program is meant to lower project risk before that decision. The first phase includes building parts of a public-access bypass road, including culvert installation, and installing sediment and erosion control infrastructure. Crews will also clear trees for employee facilities, stockpiles and sedimentation ponds, and site services contractors are being brought onto the site.
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“Commencing early works construction activities at Goldboro is a significant milestone for the Project and reflects the culmination of years of planning and development,” said President and CEO Kevin Bullock.
Bullock said the company is “prudently deploying capital toward activities designed to further de-risk Goldboro ahead of a potential construction decision.” Mine planning, engineering, procurement, community engagement and hiring are still underway.
NexGold is also finalizing an updated feasibility study, which it expects to release in the fourth quarter along with the construction decision. Meanwhile, detailed engineering continues so the company can award early construction contracts and order long-lead equipment.
The existing feasibility study describes an 11-year open pit mine producing an average of about 100,000 ounces of gold per year. Construction and commissioning are expected to take about 26 months. The updated study could change those figures.
NexGold Mining last traded at $1.48 on the TSX Venture.
