NevGold reports more positive drill results as gold-antimony resource estimate nears

Recent drone shot showing the Golden Butte Pit and a historical waste dump with newly defined antimony mineralization at surface. Photo: NevGold

Mining

NevGold reports more positive drill results as gold-antimony resource estimate nears

The results have surpassed those from the Phase 1 test pit sampling program in January

Rowan Dunne

Published

1 hour ago

NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) has delivered strong and consistent drill results from the historic gold leach pads at its Limousine Butte project in Nevada.

This week, the junior announced that sonic drilling returned multiple intercepts with solid antimony and gold grades starting right from surface. Key highlights include 0.34 per cent antimony (Sb) and 0.41 grams per tonne gold (Au) over 12.5 metres in one hole, 0.33 per cent Sb and 0.55 g/t Au over 11 metres in another, and 0.31 per cent antimony and 0.50 g/t Au over 14.6 metres in a third.

These new intercepts improve on the company’s earlier Phase I test pit sampling from January, which averaged 0.27 per cent antimony and 0.34 grams per tonne gold across the pad. They also line up well with recent drilling at other zones on the project.

For instance, a hole at Resurrection Ridge cut 1.11 per cent antimony over 6.1 metres inside a wider interval of 1.93 grams per tonne gold equivalent over 100.6 metres from surface. This result was revealed on Apr. 9.

Overall, the results confirm thick, near-surface oxide mineralization that is straightforward to process.

Path to near-term antimony production

NevGold is steadily advancing toward its maiden antimony-gold mineral resource estimate, scheduled for release in the second quarter of 2026. The estimate will integrate data from the historic leach pads with results from Resurrection Ridge and Cadillac Valley.

This milestone supports plans for near-term production. The company aims to start commercial antimony output by 2027 simply by reprocessing the existing crushed and run-of-mine material from the 1989 to 1990 gold mining era. No fresh mining is required because crews left the material already stacked and ready.

Metallurgical testwork brings more encouraging outcomes. Phase II cyanide shake tests on the oxide material after antimony leaching achieved average gold recoveries above 93 per cent, with some samples hitting up to 99 per cent. Antimony acid leaching reached up to 92 percent recovery with minimal impact on the gold.

Teams also identified additional antimony mineralization at surface in the historical gold waste dump next to the Golden Butte pit, which offers another accessible source. These elements position Limousine Butte as a compelling brownfield project in the United States, where antimony serves as a high-priority critical mineral.

“We are focused on advancing the project to antimony production by 2027 to become the next, and one of only very few, commercial scale antimony producing operations in the United States,” said CEO Brandon Bonifacio.

NevGold doesn’t have a refinery, so it’s not vertically integrated. But it may end up supplying US Antimony. Also, since it’s domestic, don’t underestimate ExIm or DoD or other US financing, since Antimony is on the Critical Minerals List.

— Derrick Eihausen (@DEihausen) April 15, 2026

Stock momentum and positive outlook

Investors have responded enthusiastically to the company’s recent progress. NevGold shares rose 330 per cent in 2025 and its market capitalization surged 515 per cent. This strong performance secured the company the number 38 spot on the 2026 TSX Venture 50 list in the junior mining category.

This week, the stock also posted a notable surge on the Frankfurt Stock Exchange, driven by the latest positive drill results from the historic leach pads and growing market interest in domestic antimony supply. Shares rose by nearly 19 per cent Tuesday.

Looking forward, NevGold holds considerable potential at Limousine Butte. The project lies in a proven Nevada district near major operators, yet it features easily accessible oxide material ideal for simple leaching of both antimony and gold.

With permitting moving ahead and consistent drilling success, the company builds momentum toward production. Shareholders could benefit significantly from this clear path to revenue in a favourable gold and antimony market.