NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) has recently discovered the highest grade antimony interval from surface at its Limousine Butte Project in Nevada.
Announced on Thursday, the new Bullet Zone discovery comes from a 150-metre step-out drillhole that confirms the company’s updated geological model and expands the mineralization footprint at the Resurrection Ridge target.
The discovery includes grades reaching up to 8.9 per cent antimony.
Hole LB25-002 returned 14.90 grams per tonne grams per tonne (g/t) gold equivalent (AuEq) over 4.6 metres from surface, containing 3.76 per cent antimony and 0.29 g/t gold. This zone sits within a broader intercept of 2.42 g/t AuEq over 53.3 metres grading 0.57 per cent antimony and 0.22 g/t gold. A lower zone in the same hole returned 0.82 g/t AuEq over 32.0 metres, including 0.68 g/t gold and 0.04 per cent antimony.
Furthermore, NevGold based its gold equivalent calculations on assumed metals prices of US$3,000 per ounce of gold and USD$40,000 per tonne of antimony. The company applied recovery rates of 80 per cent for gold and 75 per cent for antimony. These assumptions reflect about a 30 per cent discount to current spot prices.
The new discovery validates NevGold’s geological model that targets mineralization below an older thrusted dolomite unit. Drilling beneath this unit was a new exploration concept developed by the company’s technical team. According to NevGold, the results from hole LB25-002 confirm that gold-antimony mineralization extends into previously untested zones beneath the dolomite.
“The geological concept of drilling below the older, thrusted dolomite unit was a target that our team developed over the past couple of years,” said Brandon Bonifacio, NevGold CEO.
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NevGold completed 11 holes in 2025
The step-out drilling also significantly expanded the mineralized footprint at Resurrection Ridge, one of two key targets at Limousine Butte. NevGold now plans to advance both Resurrection Ridge and the nearby Cadillac Valley zone toward an initial gold-antimony Mineral Resource Estimate (MRE).
To date, NevGold has completed 11 holes in its 2025 drill campaign, with assays pending for several. The company also reported positive surface sampling results from road cuts constructed for new drill pads. Samples returned values as high as 6.8 per cent antimony and 0.25 g/t gold, supporting the broader potential for near-surface mineralization.
Furthermore, NevGold continues to advance Phase II metallurgical testwork on both gold and antimony. Results from this phase are expected in the coming weeks. The testwork builds on earlier Phase I results that demonstrated positive recoveries and supported the development of a combined gold-antimony processing flow sheet.
The Limousine Butte Project sits in eastern Nevada, a region known for its rich gold deposits. NevGold believes that the presence of high-grade antimony alongside gold gives the project strategic importance. Antimony is a critical mineral used in flame retardants, semiconductors, and defense applications. The United States currently relies heavily on imports, mostly from China, Russia, and Tajikistan.
Bonifacio also said that Limousine Butte could play a significant role in strengthening domestic supply chains as it has both gold and antimony. Both prices of these commodities have reached new heights this year, and there has been a strong commitment from government officials to pursue high quality, domestic mineral projects.
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The company plans to continue drill testing
In addition to drilling, NevGold has been reviewing historical data to refine its understanding of the project. The company has completed an evaluation of the existing geological database and continues analyzing older gold and antimony drill data. This work aims to improve targeting for upcoming exploration and resource estimation.
Meanwhile, the company plans to continue drill testing priority gold-antimony targets throughout the remainder of 2025. The completion of the MRE will allow NevGold to define the scale and economic potential of the Limousine Butte Project.
NevGold views the Bullet Zone discovery as a breakthrough that opens large untested areas across the project. The company also believe that additional drilling beneath the dolomite unit could uncover more zones of high-grade mineralization. Consequently, this new understanding of the project’s geology could guide future exploration programs. Further, it supports the development of a vertically integrated U.S. antimony supply chain.
Results will provide a clearer picture of the Limousine Butte Project’s economic potential. The company remains committed to advancing the project toward an initial Mineral Resource Estimate later in 2025.
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