NevGold Corp. (CVE: NAU) (OTCMKTS: NAUFF) (Frankfurt: 5E50) discovered significant amounts of gold-antimony at its Limousine Butte Project in Nevada.
The company announced the drill results on Thursday. Antimony (Sb) is a critical mineral essential for U.S. national security, clean energy, and technology applications. It also has no current domestic supply.
NevGold will reassess historical drilling from the project, targeting both oxide gold and antimony. Since only a small portion of historical drilling has been analyzed for antimony, and large sections of the existing database remain untested, the company sees a significant opportunity to re-assay past drill results.
Newmont Corporation (NYSE: NEM) (TSE: NGT) previously completed positive, near-surface gold-antimony drillholes, including:
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LIM-40: 4.07 grams per ton (g/t) gold equivalent (AuEq) over 54.9 meters (1.20 g/t Au and 0.64% Sb), including 6.60 g/t AuEq* over 12.2 meters (2.12 g/t Au and +1% Sb)
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LIM-45: 3.02 g/t AuEq over 36.6 meters (1.23 g/t Au and 0.40% Sb), including 4.83 g/t AuEq over 12.2 meters (0.35 g/t Au and +1% Sb)
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LIM-48: 2.61 g/t AuEq over 61.0 meters (0.77 g/t Au and 0.41% Sb), including 3.82 g/t AuEq over 24.4 meters (0.37 g/t Au and 0.77% Sb)
Gold equivalents in this case are based on assumed metals prices of US$2,000 per gold ounce of gold and USD$35,000 per tonne of antimony.
Historical drilling at Limo Butte showed strong antimony (Sb) potential, with many intervals exceeding the 1% Sb detection limit. Small-scale antimony mining previously occurred at the Nevada Antimony Mine and Lage Antimony Prospect. Multiple zones, including Resurrection Ridge and Cadillac Valley, indicate extensive gold-antimony mineralization across a large, open mineralized footprint.
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NevGold will continue exporing Limo Butte in 2025
The Limo Butte Plan of Operations permits all areas of the project with gold-antimony potential for drilling. NevGold will release more results from the Limo Butte Gold-Antimony Project soon.
“Limo Butte exhibits significant gold potential, and we have now uncovered an important additional value layer at the Project with the antimony,” said Brandon Bonifacio, CEO of NevGold.
NevGold will continue its active exploration program at Limo Butte in 2025, focusing on gold and antimony. The team is currently evaluating the historical geological database and re-analyzing past drill results to identify new opportunities. Based on the findings, NevGold plans to drill test gold-antimony targets to advance the project’s potential.
The U.S. Geological Survey (USGS) has identified antimony as a critical mineral. This is because of its essential role in national security, clean energy, and technology applications. The U.S. relies almost entirely on foreign sources, particularly China and Russia, for its antimony supply. This makes it vulnerable to supply chain disruptions.
Given its importance in military applications (ammunition, flame retardants, and alloys), batteries, and semiconductors, efforts to develop a domestic supply, such as those by NevGold at Limo Butte, could help reduce dependence on foreign sources.
Nevada offers vast resource production opportunities, with abundant gold, silver, and critical minerals. The state hosts major gold producers like Calibre Mining (TSE: CXB) (OTCMKTS: CXBMF), while SilverCrest Metals (TSE: SIL) (NYSE AMERICAN: SILV) advances silver projects. With rich deposits and mining-friendly policies, Nevada remains a key player in U.S. mineral production.
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