NevGold's latest Nevada drill results from show exceptionally rich gold mineralization

Photo credit: University of Nevada, Reno -- the school where NevGold's CEO attained his MBA degree and studied mining engineering

Mining

NevGold’s latest Nevada drill results show exceptional gold mineralization

The Limousine Butte project has also been consistently yielding favourable antimony grades

Rowan Dunne

Published

4 hours ago

New core assay results released by NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) on Wednesday have remarkable precious metal grades.

These latest gold-antimony intercepts are among the best to date to come out of the junior mining company’s Limousine Butte project.

Notably, one of the holes yielded 9.68 grams per tonne gold equivalent (AuEq) over 11.6 meters (8.92 g/t Au and 0.17 per cent antimony). This exceptional interval was contained within a 60.3-metre core that held 2.85 g/t AuEq (2.27 g/t Au and 0.13 per cent Sb).

This latest find brings enhanced optimism with it for an upcoming mineral resource estimate the company will be producing by the end of the year.

Gold and antimony are hot commodities in the metal and mineral markets at the moment and their prices are anticipated to remain elevated for the foreseeable future.

U.S. government turns its eyes to domestic antimony

As antimony (Sb) is in particularly high demand within the United States due to trade difficulties with China, the steady stream of favourable Sb mineralization discovered at Limo Butte has made the site a potential investment prospect for the government.

An increasingly alarming antimony shortage recently prompted the Trump Administration to give a priority designation to the prolific Stibnite gold-antimony project being developed by Perpetua Resources Corp (TSE: PPTA) (NASDAQ: PPTA) with the aim of fast-tracking it into production.

Moreover, the Department of Defense has been eyeing a promising Sb asset in Alaska. The Estelle project held by Nova Minerals Ltd (ASX: NVA) (OTCMKTS: NVAAF) (FRA: QM3) is another feasible near-term production prospect in the U.S.

The Bureau of Land Management also just gave Xtra Energy Ord Shs (OTCMKTS: XTPT) authorization for drilling and road construction at the American Antimony Project, also located in Nevada.

These developments highlight how American regulators have been prioritizing the metalloid for national security.

NevGold intercepts higher-grade antimony this year

NevGold core assays from May and April held superior Sb grades than the latest results, including 0.60 per cent Sb over 24.1 metres and 0.46 per cent Sb throughout 16.8 metres. Furthermore, antimony grab samples pulled from the site have yielded grades as high as 10 per cent Sb.

“The environment is optimal to continue to advance and unlock the gold-antimony potential at Limo Butte as there is a clear commitment from the United States to advance high-quality, domestic, mineral projects,” said NevGold CEO Brandon Bonifacio this week.

NevGold recently closed a US$6-million-dollar investment to help advance a promising operation in a favourable jurisdiction. The prospector is also currently developing a precious metals project and copper asset in Idaho: Nutmeg Mountain and Zeus.

Prior to that financing, GoldMining Inc (TSE: GOLD) (NYSEAMERICAN: GLDG) (FRA: BSR) and McEwen Mining Inc (TSE: MUX) (NYSE: MUX) chose to make strategic investments in the exploration and development company.