NSGold Corporation
COMPANY DATA | INTRODUCTION
| PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE
| Address: | Suite 2200, 1055 West Hastings Street Vancouver, BC Canada V6E 2E9 |
| Tel No.: | (902) 483-2308 |
| Web Site: | www.nsgoldcorp.com |
| Corporate Email: | glenn.holmes@nsgoldcorp.com |
| Contact Person: | Glenn Holmes |
| Position: | CFO |
| Traded Market: | TSX-V |
| Traded Symbol: | NSX |
| Outstanding Shares: | 34,786,316 (as at June 30, 2011) |
| Fully Diluted: | 36,196,316 (as at June 30, 2011) |
| 52 Week High: | $ 0.88 |
| 52 Week Low: | $ 0.20 |
| Present Price: | Click Here |
INTRODUCTION
NSGold Corporation is a mineral exploration company actively exploring for gold, base metals and rare earth elements in Nova Scotia, Canada. The Company’s flagship property is the 100%-owned Mooseland Gold Project located in Halifax County, Nova Scotia.
In March 2011 the Company signed a definitive agreement whereby it can acquire a 100% ownership in the Dios Padre Property, including the historic Dios Padre Silver Mine, located in the State of Sonora, Mexico.
In July 2011 the Company announced that it started the process to separate its Nova Scotia assets (gold, base metals and rare earths) and Mexican assets (silver) into two separate public companies. NSGold Corporation will continue to own its Nova Scotia gold, base metal and rare earth exploration properties.
PROJECT IN HAND
Mooseland Gold Project, Halifax County, Nova Scotia
NSGold’s 100%-owned Mooseland Gold Property is an advanced-stage exploration property, located 70 kilometres northeast of the city of Halifax, Nova Scotia. Mooseland is the oldest known gold mine in Nova Scotia (since 1858), and the property recorded total historical production from 1863 to 1934 of 3,865 ounces of gold recovered from 9,058 tons of crushed material (J. Bates, 1982). More recently, Mooseland was the target of a succession of focused exploration programs by Hecla Mining Company of Canada and Acadia Mineral Ventures, Ltd. (1987-1992) and Azure Resources Corp. (2003-2004). These companies completed a total of 36,858 meters of diamond drilling on Mooseland. Mining infrastructure on the Mooseland property includes a three-compartment shaft sunk to a depth of 125 meters complete with a steel head frame and a ramp to a depth of 50 meters.
In July 2010 NSGold initiated a Phase 1 exploration program at Mooseland that focused on obtaining data necessary to verify and classify the historical gold resource estimates in accordance with National Instrument 43-101. A total of 6,507 meters in 26 diamond drill holes were completed during 2010 with 13 holes being drilled in each of the West and East Zones.
In June 2011 the Company received an updated 43-101 compliant resource estimation report for the Mooseland Project. Total inferred gold resources for Mooseland were estimated at 390,000 ounces of gold which is an increase of 28% over earlier reported estimates. This resource report was prepared by MineTech International Inc. of Halifax, Nova Scotia. There is excellent potential for adding to the resource/reserve base both at depth and along strike.
| Mooseland Summary of Non-Diluted Inferred Mineral Resources | ||||
| Cut-off Grade (g/tonne) |
Tonnes Above Cut-off |
Average Diluted Grade (g/tonne) |
Ounces | |
| West Zone | 3.0 | 1,400,000 | 4.6 | 210,000 |
| East Zone | 3.0 | 1,100,000 | 5.1 | 180,000 |
| Total | 3.0 | 2,500,000 | 4.9 | 390,000 |
In August 2011 the Company initiated a 5,000 meter follow up drilling program at Mooseland. The focus of this program includes the drill testing of under-explored areas in the historic drilling zones, as well as to complete several drill holes planned for last year’s program that were not able to be drilled due to adverse weather conditions at the time. Several of the holes will be testing promising areas of the structure that have been sparsely drilled or unexplored in the past.
The objective of this program is to add to the 390,000 troy ounce inferred gold resource announced in June 2011. Seven holes totalling 2,000 meters are planned for the East Zone and eight holes totalling 3,000 meters are planned for the West Zone.
As an additional aspect of the 2011 Mooseland program NSGold has contracted Leading Edge Geomatics (LEG) of Fredericton, New Brunswick to fly a LiDAR survey over all claims held by NSGold at its Mooseland Project.
Other Projects in Nova Scotia
NSGold also holds five early-stage gold and base-metal exploration properties located in Nova Scotia. The properties are as follows: Leipsigate, Indian Path, Blockhouse, French Village and Cheticamp. The first three are former gold-producing properties, each characterized by Meguma-type gold occurrences, while the latter two are gold and base-metal exploration properties. During 2010 NSGold completed 3 diamond drill holes at the Leipsigate property.
The Company holds three additional properties located in Nova Scotia that are considered to be prospective for rare earth elements (“REE’s”). The properties are as follows: James River, Barney's River and Folly Lake. The Company is planning to undertake an initial prospecting program on these properties during the second half of 2011.
MANAGEMENT
Management and Directors
Johannes (Hans) van Hoof, Chairman & Chief Executive Officer
Mr. van Hoof has held senior positions at various European financial institutions, including PVF Pension Funds, Paribas Capital Markets and Bankers Trust.?In 2002, Mr. van Hoof founded VHC Partners alternative investment management group.
James Proudfoot, Director
Mr. Proudfoot has more that 45 years experience in the mining industry as a mining engineer and independent consultant. He has held senior production management positions with several mining companies. He is currently a director of Lovitt Resources Inc. (TSX-V).
Grant Loon, Director
Mr. Loon has over 14 years of experience in trading and operations roles within financial institutions and alternative investment management firms.
Glenn Holmes, CA, Vice-President & Chief Financial Officer
Mr. Holmes has more than 23 years experience in the financial management of listed junior mining companies.?Mr.?Holmes most recently served as Chief Financial Officer and Vice-President Finance of Etruscan Resources Inc.
Neil Wiener, Secretary
Mr. Wiener is a partner with the law firm Heenan Blaikie?LLP.? He practices exclusively in the area of securities law, with an emphasis on public financings. Mr. Wiener is a director of Quest Uranium Corporation (TSX) and Dianor Resources Inc. (TSX).
On November 22, 2011, NSGold Corp. announced that it will hold a special meeting of shareholders n December 22, 2011. At the meeting, shareholders will be asked to consider a special resolution reducing NSGold’s paid-up capital, in connection with the previously announced spinout of the shares of NSX Silver Inc. to the shareholders of NSGold.
On November 22, 2011, NSGold Corp. announced additional assay results for its Mooseland Gold Project in Nova Scotia. Significant intercepts include the following:
On September 19, 2011, NSGold Corporation announced that a total of seven diamond drill holes have been completed thus far on the East zone at its Mooseland gold property located in Halifax County, Nova Scotia, including the deepening of hole No. NSG-25-10 from last year's drilling program. One more drill hole is planned for the East zone after which the drill will be moved over to the West zone. A total of 5,000 metres of drilling is planned this year with the drilling designed to test underexplored areas in the historic drilling zones as well as complete several holes planned for last year's program that were not possible due to adverse weather conditions at the time. Core logging and sample preparation are proceeding well at this time.
Additionally, Leading Edge Geomatics of Fredericton, N.B., has completed an airborne LiDAR survey over all claims held by NSGold at its Mooseland project.
On August 15, 2011, NSGold Corporation announced that it has unveiled an expansive second phase of drilling exploration planned for 5,000 metres at its wholly owned Mooseland gold property located in Halifax County, Nova Scotia.
This second phase of drilling by NSGold will test under-explored areas in the historic drilling zones as well as complete several holes planned for last year’s program that were not possible due to adverse weather conditions at the time. Several of the holes will be testing promising areas of the structure that have been sparsely drilled or unexplored in the past.
The objective of this program is to add to the 390,000 troy ounce inferred gold resource announced in June 2011. Seven holes totalling 2,000 meters are planned for the East Zone and eight holes totalling 3,000 meters are planned for the West Zone.
As an additional aspect of the 2011 Mooseland program NSGold has contracted Leading Edge Geomatics (LEG) of Fredericton, New Brunswick to fly a LiDAR survey over all claims held by NSGold at its Mooseland Project.