NevGold Corp. (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) has expanded oxide gold mineralization at its Limousine Butte project in Nevada.
The company reported additional assays from its 2026 drilling program on Thursday. The results extended mineralization both inside and beyond the pit outlined in its July mineral resource estimate.
Additionally, drill hole LB26-007 returned 1.06 grams per tonne gold over 42.7 metres outside the existing pit shell. That interval included 1.89 grams per tonne gold over 18.3 metres.
The company terminated the hole in mineralization grading 0.52 grams per tonne gold. Consequently, NevGold sees potential to extend the mineralized area farther beyond the current resource boundary.
LB26-007 also encountered antimony mineralization higher in the hole. That section returned 0.20 per cent antimony over 16.8 metres.
Meanwhile, drill hole LB26-004 expanded mineralization within the existing resource pit. It returned 1.23 grams per tonne gold over 27.4 metres.
That broader section contained three metres grading 5.00 grams per tonne gold. The drilling converted blocks previously classified as unmineralized within the resource model.
NevGold CEO Brandon Bonifacio said the latest results delivered gold grades above the project’s average resource grade. Furthermore, he said the company has expanded mineralization both within and beyond the existing pit design.
NevGold believes separate mineralizing events deposited gold and antimony within the same general area. However, different sections of the deposit contain higher concentrations of each metal.
The company expects that geological pattern could provide additional flexibility during future mine planning and development.
NevGold released its updated Limousine Butte mineral resource estimate on July 15. The estimate included 181,400 ounces of measured and indicated oxide gold resources.
Read more: NevGold’s latest Nevada drill results show exceptional gold mineralization
Read more: NevGold adds new CFO ahead of Limousine Butte engineering study
Crews have completed about 9,000 metres using two drill rigs
In addition, NevGold reported approximately 1.2 million ounces of inferred oxide gold resources. The estimate also contained 29,600 tonnes of measured and indicated antimony and 48,100 tonnes inferred.
The company’s 2026 drilling campaign targets expansion and conversion of those resources. NevGold plans approximately 20,000 metres of drilling during the year.
So far, crews have completed about 9,000 metres using two drill rigs. Additionally, 40 holes have been completed, with assays from 33 holes still pending.
The program primarily targets the Bullet Zone and Armory Fault discoveries. NevGold is also testing areas where drilling could convert inferred or unmineralized material into higher-confidence resource categories.
The company has more than CAD$45 million in its treasury. Bonifacio said that funding should cover planned work for the next 12 to 18 months.
Meanwhile, NevGold continues metallurgical testing to determine how effectively it can recover gold and antimony from the deposit. The company is also advancing a preliminary economic assessment and engineering studies for Limousine Butte.
Those studies will examine potential development options as NevGold continues defining the size and distribution of the deposit.
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