NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) reported new metallurgical test results showing strong gold recovery after antimony processing at its Limousine Butte project in Nevada, reinforcing the viability of a combined leaching approach for both metals.
The company said in a Thursday press release that sequential leaching tests achieved average gold recoveries above 93 per cent from material previously treated for antimony. Additionally, the results confirm that extracting antimony has little to no negative effect on gold recovery.
The findings support a simpler processing route compared to many global antimony projects. Consequently, NevGold believes the oxide nature of its mineralization could allow efficient recovery of both metals at the same site.
The test program focused on residual tailings from earlier antimony leaching work. Subsequently, the company applied cyanide shake leach tests to extract remaining gold from the same material. Results showed consistently strong recoveries across multiple samples. For example, several tests delivered between 93 per cent and 98 per cent gold recovery, while others reached as high as more than 99 per cent.
Additionally, even lower performing samples still demonstrated recoveries above 82 per cent. This range suggests the process remains effective across varying material types. The company indicated that leaching remains the preferred metallurgical method for both antimony and gold at the project. Furthermore, the approach avoids the added complexity seen in sulphid based antimony deposits.
NevGold’s chief executive explained that the project benefits from two separate mineralization events. Consequently, gold and antimony occur in distinct forms that respond well to sequential processing.
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NevGold identified new antimony mineralization at surface
He added that many antimony projects require producing a concentrate, which introduces higher costs and logistical challenges. However, Limousine Butte’s oxide material allows direct leaching, which simplifies operations. Additionally, the company believes it can produce both metals on site rather than relying on external processing facilities. This could reduce transportation and refining requirements.
Meanwhile, NevGold identified new antimony mineralization at surface within a historical waste dump near the Golden Butte pit. This material comes from pre strip waste that earlier operators did not target for antimony. The company completed initial sampling of the waste dump, with assay results still pending. Consequently, the area could represent an additional near surface source of antimony feed.
Further, this discovery adds to previously identified mineralization on historical leach pads. These zones already form part of the company’s near term development plans. NevGold also completed a sonic drilling program on the historical leach pads. The program included approximately 35 holes aimed at defining remaining mineralization.
Additionally, the company expects to deliver a Mineral Resource Estimate for these areas in early Q2 2026. This milestone forms a key step toward potential production scenarios. The company continues to evaluate historical geological data with a focus on both gold and antimony. Meanwhile, it is advancing metallurgical testing alongside exploration work.
NevGold has already completed roughly 5,000 metres of drilling across about 30 holes. Furthermore, it plans an additional 20,000 metres of drilling in 2026 targeting key zones. These targets include the Bullet Zone and Armory Fault discoveries. Consequently, the company aims to expand both gold and antimony resources across the project.
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Results align with expectations from earlier studies
In addition, NevGold is advancing permitting efforts at both state and federal levels. The company is prioritizing scenarios that involve processing existing material without new mining.
This approach could accelerate timelines by focusing on historical leach pads and waste material. Subsequently, it may reduce upfront capital requirements compared to a full mining operation. The metallurgical work relied on composite samples sent to a laboratory in Reno, Nevada. These samples included both surface material and deeper core taken from multiple target areas.
Additionally, the samples contained primarily antimony oxide with minor sulphide content. This composition supports the effectiveness of conventional leaching methods. The company first tested antimony recovery using leaching techniques. Afterwards, it processed the remaining tailings to evaluate gold extraction potential.
This two stage process demonstrated that both metals can be recovered efficiently from the same material. Consequently, it supports a combined production model. NevGold emphasized that the results align with its expectations from earlier studies. Additionally, the company has consistently indicated that antimony recovery would not compromise gold output.
The project sits within Nevada, one of the world’s most established mining jurisdictions. Meanwhile, the geological setting resembles Carlin type systems known for gold mineralization. These systems often host mineralization within silicified rocks and breccias. Consequently, they can support large scale, low cost extraction methods.
NevGold’s work suggests that Limousine Butte may also support antimony production alongside gold. Additionally, this dual metal potential could enhance project economics. The company continues to refine its metallurgical flowsheet based on ongoing testing. Furthermore, it aims to optimize recovery rates while maintaining operational simplicity.
NevGold’s leadership indicated that the project’s characteristics differentiate it from many global antimony assets.
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