Lengthy new intervals of gold-antimony (Au-Sb) mineralization intercepted at NevGold Corp‘s (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) Limousine Butte project have extended one of the site’s key target areas by more than 200 metres. Cadillac Valley now spans over 1.7 kilometres from the northeast to southwest and more than 400 metres laterally.
The latest drill results, released on Thursday, build on a steady stream of core samples with favourable grades. Unprecedented demand for antimony and record high gold prices have made producing an initial mineral resource estimate (MRE) by year-end an exciting endeavour for the company.
NevGold just reported intercepting 2.28 grams per tonne gold equivalent (AuEq) over 30.5 meters (1.29 g/t Au and 0.22 per cent Sb). This most notable result came from within a 61-metre core containing 1.61 g/t AuEq (1.08 g/t Au and 0.12 per cent Sb).
A total of eight holes have now been drilled at the Cadillac Valley target where that latest assay came from. At Resurrection Ridge, the other primary area of focus, NevGold has received promising results from 19 holes.
“It is extremely encouraging to see the consistent hole thickness and oxide gold-antimony grades at both of our advanced target areas,” CEO Brandon Bonifacio said. “We strongly believe we have one of the most advanced gold-antimony assets in the United States and we will continue to focus on unlocking the value at the project over 2025.”
Read more: NevGold pulls up even more promising antimony grades from Nevada property
NevGold secures C$6M investment to propel ambitious plans
Thanks to a brokered private placement at the end of last month, the junior miner has strengthened its balance sheet significantly.
Funding will be utilized for continued exploration and metallurgical test work at Limousine Butte, updating the 2023 MRE at Nutmeg Mountain and copper prospecting at the Zeus project in Idaho.
Limo Butte’s antimony production potential is of critical importance for the United States right now. Until China loosens its grip on exports of the mineral, finding reliable American sources as soon as possible is imperative.
“When searching for sources of antimony, Washington must remember that the best option is to produce it domestically and the next best option is to procure it from friendly governments,” researchers from the Heritage Foundation think tank just highlighted.
“The worst option is to keep getting it from China; Washington must act accordingly.”
Read more: NevGold raises $5.5M for promising gold-antimony prospects in Nevada
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