NevGold reports 45.7 metres at 1.73 g/t oxide gold in Nevada
True widths are estimated at 70 to 90 per cent of drilled lengths, with assays from 54 holes still pending.
Mara Quinlan
NevGold Corp. CVENAU OTCMKTSNAUFF FRA5E50 reported on Thursday that drilling returned 1.73 grams per tonne oxide gold over 45.7 metres at Resurrection Ridge in Nevada. The interval adds mineralization within the July 15 resource pit shell, while a separate hole intersected 48.8 metres of gold-antimony mineralization both inside and outside it.
NevGold shares fell 1.85 per cent to C$0.53 at Wednesday's 4:00 p.m. EST close on the TSX Venture Exchange, according to CVENAU. That close preceded the gold-antimony explorer's latest assays.
The best interval began at a downhole depth of 178.3 metres and included 3.0 metres averaging 8.28 grams per tonne gold, according to the Nov. 12 assay table. These are drilled lengths; NevGold estimates true widths at approximately 70 to 90 per cent of reported thicknesses, depending on hole dip.
NevGold has drilled approximately 16,000 metres of a targeted 20,000-metre program and is advancing a preliminary economic assessment for the first quarter of 2027. Results from 54 completed holes remain pending.
The Nov. 12 batch covers four holes at Limousine Butte, on the eastern side of the Resurrection Ridge resource. NevGold called LB26-009 its strongest hole of the 2026 program.
"We are particularly encouraged by the consistency of high-grade oxide gold-antimony mineralization encountered on the eastern side of the Resurrection Ridge resource area," chief executive Brandon Bonifacio said in the release.
The peak gold grade in the best hole was 14.50 grams per tonne over 1.5 metres.
The boundary-crossing hole, LB26-017, averaged 0.37 grams per tonne gold and 0.23 per cent antimony across the broad interval. It included 12.2 metres grading 1.19 grams per tonne gold and 0.50 per cent antimony.
A separate upper zone in the best hole returned 0.18 per cent antimony over 50.3 metres. That interval included 10.7 metres averaging 0.45 per cent antimony.
NevGold owns the Limousine Butte project in eastern Nevada's White Pine County.
The drilling tests NevGold's model that older dolomite was thrust over prospective Pilot Shale, preserving the mineralized host beneath it. The company says its drilling has intersected gold and antimony at multiple horizons in that underlying shale, supporting continued exploration east of earlier drilling.
Read more: NevGold drilling extends oxide gold beyond Limousine Butte resource pit
NevGold's investor page lists a Sept. 30 cash balance of C$44.0 million. Metallurgical testwork and early permitting are continuing, with the company identifying advancement of the engineering study as a key driver of permitting.
NevGold targets completion of the Limousine Butte preliminary economic assessment in the first quarter of 2027.
NevGold Corp is a sponsor of Mugglehead news coverage
