Gold X2 Mines Appoints Chief Geologist and Updates Exploration Plans
News related to:Gold X2 Mining Inc · 3 min read
Gold X2 Mining Inc. has appointed Steven Scott as Chief Geologist, a move aimed at bolstering the company's technical team as it advances its exploration efforts at the Moss Gold Project. The Vancouver-based company, which operates under the ticker symbols AUXX on the NYSE American, AUXX on the TSXV, and DF80 on the FSE, has been making significant strides in its exploration and corporate initiatives.
Gold X2 reported its Q2/26 financials on August 27, 2026, revealing a robust cash position of C$105 million. As of September 15, 2026, the company is well capitalized, holding approximately $85 million in cash and cash equivalents. This financial strength has enabled the company to make strategic moves in the capital markets.
On September 11, 2026, Gold X2 was added to the VanEck Junior Gold Miners ETF (GDXJ) as part of the ETF's semi-annual review and rebalancing. The inclusion became effective at the market close on September 18, 2026, significantly expanding the company's visibility and accessibility to U.S. and global investors.
The company has also commenced trading on the NYSE American under the symbol "AUXX," following the completion of its previously announced 6:1 share consolidation. This move is part of the company's broader strategy to enhance its market presence and appeal to a wider investor base.
Gold X2 is also advancing a royalty spin-out plan, which involves creating a 1.00% net smelter royalty on any potential future mineral production at the Moss Gold Project. The company intends to place this royalty in a wholly-owned subsidiary and distribute the shares of this subsidiary to shareholders on a pro rata basis. The company expects to provide further updates on the arrangement and record date in due course.
In a separate development, Gold X2 has entered into a binding letter of intent with Bold Ventures Inc. to acquire certain mineral claims in exchange for C$500,000 in cash, 150,000 common shares of the company, and a 2.00% net smelter royalty on rare earth elements derived from these claims. The transaction is subject to various conditions, including the execution of definitive agreements and regulatory approvals.
Gold X2's executive team will participate in two upcoming conferences: the 2026 Precious Metals Summit Beaver Creek, taking place from September 22-25, 2026, in Beaver Creek, Colorado, and the National Bank Mining Conference, which will be held from November 23-24, 2026, in London, UK.
The company's exploration efforts have been robust, with a 160,000-meter drill program underway. As of September 15, 2026, the company has completed 223 holes, totaling 99,257 meters. The primary focus of the drilling is on resource expansion and development, with highlights including a 173.0 meters of 0.89 g/t Au from 685.0 meters in MQD-26-474 and 26.65 meters of 4.22 g/t Au from 197.7 meters in MMD-26-415 in the Main Zone.
Gold X2 is also targeting brownfields prospects near the Moss Deposit, with a particular focus on the Span area. The company has commenced geochemical surveys at Star Lake and plans to expand its systematic coverage of IP gradient array geophysics to generate scout drilling targets. All programs are expected to be completed before winter.
The company is also progressing several pre-feasibility studies, including evaluating tailings disposal options, geotechnical drilling for open pit design, and evaluating power spur options. Additionally, the company is working on environmental baseline studies, including terrestrial biology, hydrogeological studies, and socio-economic baseline assessments.
In summary, Gold X2 Mining Inc. is making significant strides in its exploration and corporate initiatives, with the appointment of a new Chief Geologist and a robust drilling program underway. The company's financial strength and strategic moves in the capital markets position it well for continued growth and success.