NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) has reported new high-grade oxide antimony drill results from the Bullet Zone at its Limousine Butte Project in Nevada.
Announced on Tuesday, the company made the discovery during its 2025 drilling program, and the results continue to reshape its understanding of the district’s geology. The work also advances NevGold’s plan to deliver its first gold-antimony Mineral Resource Estimate for the area.
The Bullet Zone sits within the larger Resurrection Ridge target. NevGold found it after testing a revised geology model that emphasized structural controls and the role of thrusted dolomite. The company says the discovery broadens the known mineralized footprint. It also points to the potential for a larger, near-surface antimony system.
The latest drillhole, LB25-009, produced the highest-grade antimony interval ever recorded at the site. The upper zone returned 21.49 grams per tonne gold equivalent over 4.6 metres. The interval included 5.51 per cent antimony and 0.06 grams per tonne gold.
It formed part of a broader 41.1-metre zone that averaged 4.00 grams per tonne gold equivalent. The same hole also cut a lower mineralized section before the crew ended drilling early due to technical issues. The hole finished in mineralization.
Another hole, LB25-001, delivered 4.05 grams per tonne gold equivalent over three metres within a broader envelope grading 0.88 grams per tonne gold equivalent across 48.8 metres. The company used metal prices of USD$3,000 per ounce of gold and USD$40,000 per tonne of antimony to calculate gold equivalents. NevGold also applied recovery assumptions of 80 per cent for gold and 75 per cent for antimony.
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Gold Butte produced over 100,000 gold ounces in 1989-1990
NevGold has now finished eighteen holes in the 2025–2026 drill program, and many assay results remain in the queue. The program tests both new and historical targets. It also evaluates NevGold’s interpretation that gold and antimony occur beneath older dolomite units that were pushed over younger rocks.
Company president and chief executive Brandon Bonifacio said the Bullet Zone has revealed a strong zone of near-surface, high-grade antimony. He noted that two holes have already confirmed the company’s updated model.
Bonifacio also addressed the value of previously mined material on site.
The project is a brownfield mine with significant crushed rock stored in leach pads from a late-1980s gold operation. The historical Golden Butte pit produced more than 100,000 ounces of gold between 1989 and 1990. The earlier operators never assessed the antimony content of that material. NevGold has now completed Phase I sampling of the crushed and run-of-mine pads to determine whether they contain additional gold-antimony mineralization.
Additionally, the company considers the leach pads a key opportunity. The material sits at surface and requires no blasting or heavy earthwork to access. Bonifacio said the pads could represent an important near-term source of antimony.
“There is a clear commitment from the United States government to advance high-quality, domestic, mineral projects and Limo Butte is well-advanced with its significant near-surface, oxide antimony-gold mineralization and large geological database,” Bonifacio said.
“All of our various work programs in 2025 have demonstrated the quality of the antimony-gold potential at Limo Butte, and we will continue to systematically advance the Project with the objective of playing a key part in the mandate to create a vertically integrated, U.S. antimony supply chain.”
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American agencies pushing domestic antimony production
Antimony has become a priority critical mineral in the United States. The metal is used in munitions, energy storage, flame retardants and other strategic industries. It is also produced mainly outside North America. Consequently, American agencies have pushed for domestic production to reduce geopolitical risk. NevGold argues that Limousine Butte could support that national effort because it lies in Nevada and already holds extensive datasets from past operations.
Furthermore, the company says its 2025 work programs show consistent support for the district’s antimony-gold potential. The team has reviewed historical exploration records, re-logged older drill core and expanded its structural analysis. The revision helped guide the current drill program, which continues to focus on near-surface oxide mineralization. The company expects the data to play a central role in preparing its first gold-antimony resource estimate.
NevGold’s technical group is also completing metallurgical testing. The tests examine how gold and antimony respond to various processing methods. This work will inform potential flow sheets for heap leaching or alternate extraction concepts. Metallurgy results from Phase II have been finished, and further work may follow once new drill data arrives.
The company’s broader 2025–2026 plan includes continued drilling, more sampling of the leach pads, and additional analysis of older geological records. It also includes the completion of the initial resource estimate. Meanwhile, project geologists continue to refine the structural fabric of the district. They believe repeated thrusting events influenced fluid pathways and controlled where gold and antimony accumulated.
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