NxGold granted water permit for the Kuulu Gold Project
Friday, Oct 20, 2017
NXGOLD LTD. is pleased to advise that a Type B Water Licence (2BE-KUU1721) has been issued by the Nunavut Water Board in respect of the Kuulu Project in Nunavut.  This licence authorizes water use and waste management associated with camp and drilling activities for the Kuulu Project. Upon renewal of the existing Land Use Licences, KVL311B01 and KVRW12E01, all licenses and permits will have been issued to permit the Company to drill test high priority gold targets at the Kuulu Project.  As previously announced on June 19, 2017, the Company has also obtained a positive decision from the Nunavut Impact Review Board for the Kuulu Project.

The Company continues its dialogue with the Kivalliq Inuit Association and remains optimistic that it will secure renewal of the Land Use Licences in due course,.

Condor North Consulting ULC., has been retained to perform a detailed interpretation of the results of the Kuulu VTEM Plus survey that was undertaken in June to refine geophysical targeting on the Kuulu Project and their final report is pending.

Chicobi Project Update

The Company has been informed that acquisition of high resolution seismic data along the 11 kilometer Chicobi survey line is now complete.  This survey line was undertaken with NxGold as an industry partner to the Seismic Discovery Program co-ordinated by the Mineral Exploration Research Centre at the Harquail School of Earth Sciences, Laurentian University.  Additional geophysical, geochemical and geological data is currently being acquired to support an integrated interpretation of the seismic data.

The Company has scheduled an airborne VTEM Plus and magnetics survey for late October 2017.  This survey will leverage existing high-quality survey data by merging the new data completed by NxGold with historical data resulting in strong property coverage which will help to define and prioritize drilling targets.  

Chris McFadden, Chief Executive Officer of NxGold stated: "We are very pleased to be issued the Water Licence for Kuulu as it represents the second to last outstanding permit required and now only the renewal of the existing Land Use Licenses are required for the Company to undertake our anticipated maiden drill program.  We will continue to work closely with the Kivalliq Inuit Association and the local community to seek renewal of the Land Use Licences as soon as we can.  Meanwhile the commencement of geophysical and seismic work at Chicobi is exciting and we are looking forward to the results of the first systematic and detailed exploration program on this extensive land package in the heart of the prolific Abitibi Greenstone Belt, Quebec."

For more information, please visit: http://www.nxgold.ca/

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