NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) has expanded antimony-gold mineralization at its Limousine Butte project in Nevada.
The company reported Tuesday that its first three 2026 drill holes extended mineralization more than 100 metres beyond its current resource model. Additionally, all three holes returned antimony and gold grades above grades contained in the maiden mineral resource estimate.
NevGold released the initial resource estimate for Limousine Butte, also called Limo Butte, on July 15. The company now aims to expand and upgrade that resource through approximately 20,000 metres of drilling during 2026.
NevGold has completed 28 holes so far, with assays still pending for another 25 holes. Consequently, the first results represent only a small portion of the planned exploration program.
CEO Brandon Bonifacio said the early results demonstrated immediate progress toward increasing both the resource’s size and grades. He also said drilling continues to expand what NevGold considers a strategically important US antimony-gold deposit.
The company has concentrated its current drilling around the Bullet Zone and Armory Fault. Those targets sit along the eastern side of the existing Resurrection Ridge resource area.
Hole LB26-003 returned two separate mineralized intervals that expanded and upgraded the existing resource model. The upper interval returned 1.38 grams per tonne gold equivalent over 50.3 metres from surface.
That section contained 0.31 per cent antimony and 0.19 grams per tonne gold. Additionally, a three-metre section within the interval returned 1.16 per cent antimony.
The lower zone returned 1.31 grams per tonne gold equivalent over 13.7 metres. That interval contained 0.59 grams per tonne gold and 0.18 per cent antimony.
Read more: NevGold Corp’s Limousine Butte drill program targets first Gold-Antimony resource estimate
Read more: GoldMining chooses to retain its NevGold shares for next 18 months
NevGold pulls antimony from multiple holes
Meanwhile, LB26-002 also produced two mineralized zones that extended or upgraded the resource. Its upper interval returned 1.04 grams per tonne gold equivalent over 10.7 metres from surface.
The lower zone included 6.1 metres grading 3.94 grams per tonne gold equivalent. That section contained 0.95 per cent antimony and 0.25 grams per tonne gold.
Furthermore, the higher-grade section occurred within 65.5 metres grading 1.04 grams per tonne gold equivalent. The wider interval contained 0.22 per cent antimony and 0.18 grams per tonne gold.
Hole LB26-001 also encountered mineralization in upper and lower zones. The upper zone included three metres grading 2.81 grams per tonne gold equivalent.
That section contained 0.67 per cent antimony and 0.21 grams per tonne gold. In addition, the lower zone included three metres grading 3.30 grams per tonne gold equivalent.
That interval contained 2.39 grams per tonne gold and 0.23 per cent antimony. It sat within a wider 45.7-metre interval grading 0.42 grams per tonne gold equivalent.
NevGold said the holes also converted previously unmineralized areas inside the resource’s planned pit shell into mineralized blocks. Consequently, the drilling could add material to future versions of the mineral resource estimate.
Some drilling could also upgrade inferred resources into categories supported by greater geological confidence. Mineral resource categories help companies describe how confidently geologists understand the size, grade and continuity of a deposit.
However, a mineral resource does not automatically mean the material can be economically mined. NevGold is conducting additional technical work to determine whether a future mining operation could be commercially viable.
Read more: Antimony recovery results from NevGold’s Limo Butte project exceed expectations
Read more: NevGold’s latest Nevada drill results show exceptional gold mineralization
Further drilling will focus on expanding Bullet Zone and Armory Fault
The company continues metallurgical testing to determine how effectively processors could recover antimony and gold from Limousine Butte material. Additionally, NevGold is advancing engineering work and a preliminary economic assessment for the project.
A preliminary economic assessment provides an early examination of a project’s potential mining methods, processing plans, costs and economics. Further drilling will focus primarily on expanding the Bullet Zone and Armory Fault discoveries and converting existing resource material.
NevGold plans to continue drilling through its approximately 20,000-metre 2026 exploration campaign. Meanwhile, results from the remaining 25 completed holes will provide further information about mineralization around Resurrection Ridge.
.
NevGold Corp is a sponsor of Mugglehead news coverage
.
