NevGold's Nevada property may just be the next American antimony resource of scale

Sample taken from the Limousine Butte project showing bladed white antimony oxide crystals (stibiconite). Photo: NevGold

Mining

NevGold’s Nevada property may just be the next American antimony resource of scale

The Stibnite project in Idaho is #1, but a steady stream of promising drill results have made Limousine Butte worthy of attention

Rowan Dunne

Published

8 hours ago

The Limousine Butte project under development by NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) has become a highly prospective antimony (Sb) production and investment opportunity.

NevGold has been continually intercepting long intervals on antimony mineralization at the Nevada site alongside favourable quantities of oxide gold.

On Tuesday, NevGold reported a drill result of 2.19 grams per tonne gold equivalent (AuEq) Over 64 metres (0.72 g/t Au And 0.33 per cent antimony). A shorter interval with 1.43 g/t Au And 2.10 per cent Sb over 4.5 metres was contained therein.

These assay results come after notable core samples reported by the junior mining company in February, March and April.

NevGold also has high-grade historical grab samples from the property in hand, reinforcing the project’s Sb potential. One of these holds 10 per cent Sb and two others have 7.9 per cent.

Both commodities are highly valuable at the moment

As the critical mineral and precious metal are both worth a very high dollar, the feasibility of this development-stage operation needs minimal explanation. Antimony went from being worth a mere US$11,600 per tonne at the beginning of last year to approximately US$60,000 per tonne.

Moreover, many analysts believe that gold’s bull run will continue for years, thereby continually enhancing the value of Limousine Butte and other Carlin-style Nevada gold assets. A 2023 mineral resource estimate determined that NevGold’s project held over 1 million indicated gold ounces.

Over the weekend, leading antimony supplier China and the United States agreed to a trade war truce. Although it appears that China may now be relaxing its recent critical mineral and rare earth export restrictions for the Americans to a certain extent, demand for domestic sources of antimony in the U.S. is still higher than ever.

“The timing and market conditions provide an optimal environment to advance the gold-antimony potential at Limo Butte as there is a clear commitment from the United States to advance high-quality, domestic, mineral projects,” NevGold CEO, Brandon Bonifacio, said this week.

Mineral resource estimate is coming

NevGold is planning to have a calculated assessment of the site’s antimony content and updated estimate of the project’s gold resources in hand by the end of the year.

“The discovery of more significant oxide gold-antimony drill results at Resurrection Ridge [Limo Butte area] continues to be a key development with the focus of advancing the project to an initial mineral resource estimate in 2025,” Bonifacio just said.

The company is also re-analyzing Limousine Butte’s geological database and historical drill results to better understand the antimony mineralization footprint.

“We are pleased with the level of consistency in thickness and oxide gold-antimony grades that we are seeing in the historic data and the re-assay program,” commented NevGold’s exploration manager Greg French.

Analysts have a very bullish outlook for the antimony market in the U.S. going forward. Alongside NevGold, United States Antimony Corp (NYSEAMERICAN: UAMY) and Perpetua Resources Corp (TSE: PPTA) (NASDAQ: PPTA) have been increasingly intriguing investors.

More broadly, the international antimony market is poised for steady growth until at least 2034, according to a new report released this month.