NexGold, Signal Gold merger aims to create 200,000 oz/y producer

The miner said last year it was going ahead with a $40 million expansion of Diavik, which will extend the operation’s life to at least early 2026. 

The results are part of a 12,000-metre drill program at Ackio, where mineralization starts at 25 metres depth.

The goal is to determine the potential of its NISK asset, known for its rich deposits of nickel, copper, cobalt and other critical minerals.

Submission of the document, which it expects to complete within the next six weeks, is a critical requirement for obtaining federal permits.

The collection is headlined by seven “Old Masters”, notable historic diamonds from the Argyle mine that operated from 1983 to 2020.  

The project hosts 50.4 million inferred tonnes grading 1% Li2O for 506,000 tonnes of Li2O.

The company will now focus on the Scott Lake zinc-copper deposit near Chibougamau.

The deal comes exactly a year after IsoEnergy took over Consolidated Uranium in an all-stock deal.

Mining companies are seeking a wider range of capital sources, while companies are also considering partnerships or JVs to help reduce risks and financing requirements.