NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) reported new oxide antimony-gold drill results from its Limousine Butte project in Nevada, as the company moves toward a maiden mineral resource estimate expected in Q2 2026.
Reported on Thursday, the latest assays complete reporting from its 2025 drill program, with further results still pending from historical leach pad testing.
The company continues to position the project for near-term antimony production, targeting initial output by 2027. Furthermore, management aims to reprocess historical gold leach pads while advancing broader exploration across the property. NevGold said recent drilling intersected continuous near-surface oxide mineralization, including 1.93 grams per tonne gold equivalent over 100.6 metres at Resurrection Ridge. Meanwhile, the interval included both gold and antimony values, reflecting the project’s dual-metal potential.
The company also reported additional step-out drilling that extended mineralization beyond previously defined zones. Consequently, these results may support future resource expansion as the company compiles data for its initial estimate. At Cadillac Valley, NevGold completed infill drilling and re-assayed historical holes to strengthen its geological model. Additionally, results from these efforts are expected to improve confidence in the upcoming mineral resource estimate.
Management indicated that the maiden estimate will include multiple target areas, including Resurrection Ridge and Cadillac Valley. Furthermore, the estimate will incorporate data from historical leach pads, which are central to the company’s near-term production strategy. Chief executive Brandon Bonifacio said the project continues to demonstrate strong grades and near-surface mineralization suitable for low-cost processing. He added that the company is integrating new drill data into the upcoming resource estimate while advancing engineering and permitting work.
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National security materials prioritized by North American governments
He also pointed to the project’s oxide characteristics, which allow for simpler heap leaching methods compared to more complex sulphide deposits. Consequently, this could reduce development costs and accelerate timelines if the project advances to production. Bonifacio further noted that the company sees potential to produce both antimony and gold from the same material. Meanwhile, NevGold plans to continue drilling across multiple zones to expand the mineralized footprint.
Antimony has gained attention as a critical mineral due to its use in military and industrial applications. Additionally, governments in North America have prioritized domestic supply chains for materials tied to national security. NevGold said Limousine Butte is a brownfield site with existing infrastructure and historical processing areas. Consequently, the company believes it can shorten the path to production by focusing on previously mined material.
The company has already completed drilling on crushed and run-of-mine leach pads, with assays still pending. Meanwhile, these materials could provide early feedstock for antimony production without requiring new mining operations. NevGold plans to release its maiden mineral resource estimate in the second quarter of 2026. Additionally, this milestone will help define the scale and economics of the project as it moves toward development.
The company is also advancing metallurgical testing to refine processing methods. Furthermore, these studies will determine recovery rates for both gold and antimony under expected operating conditions. In parallel, NevGold continues to evaluate historical geological data to identify additional targets. Consequently, this work supports ongoing drilling campaigns and broader project optimization.
Resurrection Ridge target area with Bullet Zone discovery. Figure includes completed drilling and identified expansion areas with the thrust faulted Upper Plate Dolomite. Image via NevGold
Read more: NevGold expands Bullet Zone discovery as drilling confirms oxide gold-antimony system
Read more: NevGold reports over 93 per cent gold recovery after antimony processing at Limousine Butte
Limousine Butte offers flexibility with gold and antimony
The company completed approximately 5,000 metres of drilling across 30 holes in its latest program. Meanwhile, it plans to expand drilling significantly in 2026, targeting roughly 20,000 additional metres.
Future drilling will focus on newly identified zones such as the Bullet Zone and Armory Fault. Additionally, exploration will continue across the wider project area to identify further mineralization.
NevGold is also advancing permitting efforts at both state and federal levels. Furthermore, the company is prioritizing approvals related to reprocessing historical leach pads, which could allow faster production timelines.
Management emphasized that early-stage production would not require new mining activity. Consequently, this approach could reduce environmental impact and regulatory complexity compared to greenfield development.
The company believes Limousine Butte offers flexibility through its combination of oxide antimony and heap-leachable gold. Additionally, this dual-metal approach may provide multiple revenue streams if market conditions shift.
NevGold said it continues to evaluate the project’s broader development potential beyond the initial production phase. Meanwhile, exploration drilling and engineering studies remain ongoing as the company builds toward its first resource estimate.
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