# Gold X2 Expands 2026 Drilling Campaign to 160,000 Meters; Eight Drill Rigs Operating by the End of June Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/gold-x2-expands-2026-drilling-campaign-to-160-000-meters-eight-drill-rigs-operat--2af357fd-932c-4529-a0d2-b793650a2de2 Original source: https://money.tmx.com/en/quote/AUXX/news/8551928766627795/gold-x2-expands-2026-drilling-campaign-to-160-000-meters-eight-drill-rigs-operat Publisher: tmx Original announcement: 2026-05-05T11:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Gold X2 Mining Inc. - Ticker: AUXX - Exchange: TSX - Region: Northwest Ontario, Canada - Primary commodity: Gold - Secondary commodities: Silver - Document categories: Resource update, Metallurgy, Other - Extracted: 2026-09-19 11:20:56 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Gold X2 Mining Inc. has expanded its 2026 drilling campaign at the Moss Gold Project to 160,000 meters, utilizing up to eight drill rigs. The company also reported its updated NI 43-101 mineral resource estimate, which includes 2.458 Moz of Indicated gold and 4.209 Moz of Inferred gold. Reasoning: The announcement details a massive scale-up in exploration activity and provides a substantial update on the current resource status, signaling significant project advancement. - Positive factor: Significant expansion of 2026 drilling campaign to 160,000m - Positive factor: Large existing resource base \(2.458 Moz Indicated Au\) - Positive factor: Comprehensive metallurgical program planned to support Feasibility Study - Positive factor: Fully funded exploration program Facts used in scoring: 5 ## Classification and evidence **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document provides updated mineral resource figures for gold and silver at the Moss Gold Project. Evidence · text > The 2026 updated NI 43-101 mineral resource estimate \("MRE"\) for the Moss and East Coldstream Deposits has expanded to 2.458 million ounces of Indicated gold resources **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate is explicitly stated to be a 2026 updated NI 43-101 MRE. Evidence · text > The 2026 updated NI 43-101 mineral resource estimate \("MRE"\) **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Peter Flindell, PGeo, MAusIMM, MAIG, has approved the technical information. Evidence · text > Qualified Person Peter Flindell, PGeo, MAusIMM, MAIG, Chief Operating Officer, of the Company, and a qualified person under National Instrument 43-101... has approved the scientific and technical information **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: A significant portion of the gold and silver resource is in the Inferred category. Evidence · text > 4.209 million ounces of Inferred gold resources **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: the document describes a heap\_leach route \("heap leaching"\) **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a flotation route \("flotation"\) **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: the document describes a gravity route \("gravity"\) ## Extracted facts Stored fact records: 4. Some facts used in scoring do not have a stored record. ## Resource Estimates (4) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/gold-x2-expands-2026-drilling-campaign-to-160-000-meters-eight-drill-rigs-operat--2af357fd-932c-4529-a0d2-b793650a2de2#fact-resource-facts-0) Moss Gold Project · gold #### Identity - Project: Moss Gold Project - Commodity: gold - Region: canada\_on - Reported Region: Northwest Ontario, Canada - Ticker: AUXX #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Peter Flindell - Resource group id: resource:e328c92ae4818f35dfa8 - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 73800000 - Grade: 1.04 - Grade Unit: g/t - Contained Metal: 2.458 - Contained Unit: moz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-05T00:00:00.000Z Reasoning: Strong indicated resource component for an advanced stage project. - Positive factor: Large indicated resource base Evidence · text > 2.458 million ounces of Indicated gold resources at 1.04 g/t Au, contained within 73.8 million tonnes #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/gold-x2-expands-2026-drilling-campaign-to-160-000-meters-eight-drill-rigs-operat--2af357fd-932c-4529-a0d2-b793650a2de2#fact-resource-facts-1) Moss Gold Project · gold #### Identity - Project: Moss Gold Project - Commodity: gold - Region: canada\_on - Reported Region: Northwest Ontario, Canada - Ticker: AUXX #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Peter Flindell - Resource group id: resource:58315eba9e048256098c - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 134700000 - Grade: 0.97 - Grade Unit: g/t - Contained Metal: 4.209 - Contained Unit: moz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-05T00:00:00.000Z Reasoning: Large scale but speculative category. - Positive factor: Significant scale of inferred resource - Negative factor: High proportion of inferred material Evidence · text > 4.209 million ounces of Inferred gold resources at 0.97 g/t Au contained within 134.7 million tonnes #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/gold-x2-expands-2026-drilling-campaign-to-160-000-meters-eight-drill-rigs-operat--2af357fd-932c-4529-a0d2-b793650a2de2#fact-resource-facts-2) Moss Gold Project · silver #### Identity - Project: Moss Gold Project - Commodity: silver - Region: canada\_on - Reported Region: Northwest Ontario, Canada - Ticker: AUXX #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Peter Flindell - Resource group id: resource:01460669286394df0908 - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 64300000 - Grade: 1.53 - Grade Unit: g/t - Contained Metal: 3.16 - Contained Unit: moz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-05T00:00:00.000Z Reasoning: Secondary commodity resource reported. - Positive factor: Identified silver byproduct resource Evidence · text > 3.160 million ounces of indicated silver resources at 1.53 g/t Ag contained within 64.3 Mt #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/gold-x2-expands-2026-drilling-campaign-to-160-000-meters-eight-drill-rigs-operat--2af357fd-932c-4529-a0d2-b793650a2de2#fact-resource-facts-3) Moss Gold Project · silver #### Identity - Project: Moss Gold Project - Commodity: silver - Region: canada\_on - Reported Region: Northwest Ontario, Canada - Ticker: AUXX #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Peter Flindell - Resource group id: resource:b9d05f303a1aa4350ee3 - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 125900000 - Grade: 1.55 - Grade Unit: g/t - Contained Metal: 6.273 - Contained Unit: moz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-05T00:00:00.000Z Reasoning: Secondary commodity resource reported. - Positive factor: Significant silver scale - Negative factor: Inferred category Evidence · text > 6.273 million ounces of inferred silver resources at 1.55 g/t Ag contained within 125.9 Mt #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.