NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) has launched a 20,000-metre drill program at its Limousine Butte antimony and gold project in Nevada as the company pushes toward a maiden resource estimate and potential antimony production by 2027.
The company has already mobilized one reverse circulation drill rig to the site. Meanwhile, a second rig is expected to arrive by June or July. NevGold also said on Thursday it could add additional rigs as the campaign advances.
The new drill program will focus on expanding and upgrading known mineral resources while testing new exploration targets across the property. Additionally, the company plans to follow up on the high-grade Bullet Zone and Armory Fault discoveries made during its 2025 drilling campaign.
NevGold recently completed CSAMT geophysical surveys over the Bullet Zone area. Furthermore, preliminary results appear to support the company’s updated geological model and identified several new drill targets.
The Bullet Zone sits within the eastern extension of Resurrection Ridge, where more than one kilometre of ground remains untested. The company said every drillhole completed in the area during 2025 intercepted oxide gold and antimony mineralization.
NevGold also intends to test areas surrounding the historical Nevada Antimony Mine and Lage Antimony Mine. Both operations produced high-grade antimony during the Second World War era.
The company did not drill those targets in 2025 because of access limitations. However, road construction work has progressed and should allow drilling in the current campaign.
The drill program falls under NevGold’s approved Plan of Operations permit, which the company received in late 2024. Additionally, the expanded permit area covers several untested zones with strong potential.
Read more: NevGold pushes toward potential 2027 antimony production at Limousine Butte
Read more: NevGold reports more positive drill results as gold-antimony resource estimate nears
Company identified new mineralized structures in 2025
Chief executive Brandon Bonifacio said the recent CAD$42 million financing allows NevGold to aggressively expand exploration efforts at Limousine Butte. He explained that the company now intends to focus on three priorities: resource growth, expansion drilling and new discoveries.
Bonifacio also said the company remains focused on the pursuit of near-surface oxide antimony and gold mineralization because those materials generally cost less to process than deeper sulphide deposits.
According to Bonifacio, the 2025 drilling campaign significantly improved NevGold’s understanding of the project geology. Consequently, the company identified new mineralized structures beneath older dolomite rock formations.
“Another focus of our upcoming program is testing the historical high-grade, past-producing antimony mines, including the Nevada Antimony Mine and Lage Antimony Mine, that we could not drill last year due to access constraints,” said Bonifacio.
“We remain focused on playing a leading role in building the vertically integrated antimony supply chain in the United States.”
That work led to the discovery of the Bullet Zone and the Armory Fault structure, which management now considers priority targets. Bonifacio added that every hole drilled beneath the older dolomite unit intercepted meaningful antimony and gold mineralization.
NevGold is also advancing a maiden mineral resource estimate covering historical heap leach pads and broader target areas, including Resurrection Ridge and Cadillac Valley. Furthermore, the company believes the resource estimate represents an important step toward establishing a domestic antimony supply source.
Antimony has become increasingly important in North America because of its use in defence systems, batteries and flame retardants. Additionally, governments and manufacturers have sought new domestic sources after tightening Chinese export controls disrupted global supply chains.
NevGold Corp is a sponsor of Mugglehead news coverage
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