Gold X2 Mining Inc. (NYSE American/TSXV: AUXX; FSE: DF80) announced that phase-one drilling at its Span Prospect has intersected 40.4 meters of 2.05 grams per tonne gold from 343.6 meters depth, including 24.05 meters of 3.17 g/t Au from 345.95 to 349.95 meters. The Span Prospect lies roughly two kilometers northeast of the eastern edge of the company’s Moss Gold Deposit in northwest Ontario, Canada.
The main intercept was drilled as a 75-meter step-out hole along a chargeability feature striking at approximately 45 degrees. Additional returns from parallel shear zones some 200 meters northwest of the main Span shear included 5.0 meters of 5.34 g/t Au from 161.0 meters in hole MSD-26-397 — including 2.0 meters of 12.7 g/t Au from the same interval — and 11.0 meters of 1.22 g/t Au from 233 meters in hole MSD-26-401.
Two confirmation holes tested historical mineralization at the prospect. Hole MSD-26-395 returned 30.0 meters of 0.38 g/t Au from 377.0 meters, while hole MSD-26-427 returned 7.15 meters of 2.60 g/t Au from 262.9 meters, including 4 meters of 4.34 g/t Au from 265.0 meters.
The company’s Phase One campaign comprised 11 holes totaling 4,581 meters. Core samples were visually validated, rotated, and reconnected at NQ diameter. Structural orientation was captured using acoustical and optical televiewer surveys by DGI Geosciences. Cores were sawn along a cutline 90 degrees from the foliation apex; the right half was sent to Paragon Geochemical in Timmins/Hamilton and ALS Geochemistry in Thunder Bay/Vancouver for analysis, while the left half was stored at the company’s Kashabowie core yard facility near the Trans-Canada Highway.
Gold was analyzed via PhotonAssay (PA-AU02/Au-PA02), with 60 or 48 pathfinder elements determined by ICP-MS following four-acid digestion (UT-6/ME-MS61). A quality assurance/quality control program was evaluated and reported by Orix Geoscience Inc.
Historical drilling by Inco in the late 1980s and by Wesdome Gold Mines in 2017 predate the current campaign.
The Moss and East Coldstream deposits carried an updated 2026 NI 43-101 mineral resource estimate showing indicated gold resources of 2.458 million ounces at 1.04 g/t contained within 73.8 million tonnes, and inferred gold resources of 4.209 million ounces at 0.97 g/t within 134.7 million tonnes. Indicated silver resources totaled 3.160 million ounces at 1.53 g/t Ag in 64.3 million tonnes, with inferred silver at 6.273 million ounces at 1.55 g/t Ag in 125.9 million tonnes.
Michael Henrichsen, CEO, president, and director of Gold X2, said the company plans to follow up the 40.4-meter intercept with an additional drill rig arriving on site that week to extend mineralization toward the surface and to the east-northeast, in pursuit of a potential northeast offset extension of the Moss Deposit.
Peter Flindell, PGeo, MAusIMM, MAIG, serves as chief operating officer and is the company’s qualified person under NI 43-101.
