Antimony recovery results from NevGold’s Limo Butte project exceed expectations

Inaugural phase metallurgical test work on samples taken from NevGold Corp‘s (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) Limousine Butte project has been extremely positive.  

On Wednesday, the junior reported results obtained from a laboratory in Reno, Nevada that significantly exceeded expectations. The Kappes, Cassiday & Associates lab examined a pair of samples, exceeding 20 kilograms each, comprised of grab samples and drill cores.

Those samples yielded antimony (Sb) extraction recovery ranging between 75 and 92 per cent through acid leaching and 61 to 78 per cent through an oxidized flotation process.

These techniques will be advanced into the next stage of metallurgical testing and trade-off engineering studies, as specified by the company.

The high recovery rates demonstrate the economic viability of further development and the favourable average grade of mineralized material at the site’s key target areas. It is also important to note that these antimony recovery processes have little to no impact on gold recovery.

Other recent Limo Butte assays have yielded exceptional gold mineralization, including 9.68 grams per tonne gold equivalent (AuEq) over 11.6 meters (8.92 g/t Au and 0.17 per cent Sb).

“Tests from large bulk samples of both core drilling and surface samples demonstrate that positive antimony recoveries can be attained through different metallurgical process flowsheets,” said chief executive Brandon Bonifacio, “and that the oxide gold is also recoverable.”

Bonifacio explained that NevGold’s understanding of the metallurgical aspects of Sb mineralization at the Nevada mining project have been significantly enhanced, thereby providing valuable guidance for future programs.

“It has been an extremely positive, critical development to define numerous options to positively recover both the gold and antimony from the near-surface oxide mineralization.”

Summary of metallurgical test work results. Table: NevGold

NevGold prepares to deploy drill rig; MRE coming by year-end

Additional drilling will be completed at Limo Butte this year on the path to producing a mineral resource estimate (MRE) by the end of Q4.

At Cadillac Valley, one of the priority targets, NevGold recently expanded the area’s known mineralization by over 200 metres with favourable new intercepts. This newly prioritized territory will be a key focus for the drill rig in the coming weeks.

Recent bull market conditions, particularly in the antimony mining sector, have inspired NevGold to re-examine historical results from the property. This process is ongoing and will help inform the upcoming MRE.

There is a significant Sb supply shortage at the moment, particularly in the United States where Limo Butte resides. This scarcity has driven the metalloid’s price to unprecedented heights. Antimony trioxide went from being valued at approximately US$8.50 per pound in early 2024 to about US$27 per pound at the moment.

Chinese export controls, mine closures in Myanmar, a reduction in Russian exports and escalating demand for the element in the EV and semiconductor industries have been significant catalysts.

As gold’s price is also at a historic high, climbing by nearly 30 per cent this year after a substantial ascension in 2024, there has never been a more opportune time to capitalize on both commodities.

This week, the Canadian Imperial Bank of Commerce (CIBC) (TSE: CM) predicted that the precious metal would hit US$3,600 per ounce by the end of 2025 — more than US$200 higher than gold’s current spot price.