NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) continues to intercept substantial lengths of gold and antimony (Sb) mineralization at its Limousine Butte project in the mining-friendly state of Nevada.
On Thursday, the American exploration and development company reported a series of new drill results pulled from the site’s Cadillac Valley target area.
Most notably, NevGold intercepted 1.7 grams per tonne gold equivalent (AuEq), consisting of 0.89 g/t Au and 0.18 per cent Sb, over 169.2 metres. This core contained a 54.4 metre section with 2.85 g/t AuEq. Also, a 24.3 metre interval with 2.23 g/t AuEq, (1.32 g/t Au and 0.20 per cent Sb) in another hole.
These results highlights the property’s potential to become a valuable gold production asset and a reliable American source of antimony. Currently, there are no domestically mined sources of this element in the country. The U.S. has historically imported the antimony it needs, particularly for military technologies, from countries like China, Bolivia and Belgium. However, leading supplier China implemented a ban on antimony imports into the U.S. in December, driving up demand significantly.
Russia and Tajikistan are also major producers, having more than tripled their production over the past decade.
The Stibnite project under development by Perpetua Resources Corp. (TSE: PPTA) (NASDAQ: PPTA) in Idaho is the nation’s only promising antimony deposit of scale at the moment, but this mine won’t enter the production phase until late next year or 2027. The operation could potentially fulfill 35 per cent of American demand for the commodity.
Mineral resource estimate is in the works
The new core assay results from NevGold released this week follow the mining company reporting lengthy intervals of mineralization at Limo Butte in late March and February. A sample containing 2.46 g/t AuEq (gold and antimony) over 86.9 metres last month was worthy of note.
“The timing and market conditions are opportune to continue to advance the gold-antimony potential at Limo Butte as there is a clear commitment from the United States to advance high-quality, domestic, mineral projects,” NevGold CEO Brandon Bonifacio said Thursday.
NevGold received a crucial permit for exploratory drilling on an additional 185 acres from the U.S. Bureau of Land Management at the end of November. The company is currently working toward producing an initial gold-antimony mineral resource estimate at the Nevada site. These latest results bring optimism with them for accomplishing this goal.
For gold alone, a 2009 estimate determined that Limo Butte contained 241 kilo-ounces of measured and indicated resources.
Great summary @MitchSmithVanc more exciting, significant oxide gold-antimony results over thick intervals from our permitted Limo Butte project in Nevada. +5km of strike length and open. The Time is $NAU (now) $NAUFF ✅✅✅✅✅ #gold #antimony #Nevada @NevGoldCorp… https://t.co/2VUzAySPdf
— Brandon Bonifacio (@bbonifacio1) April 10, 2025
Read more: NevGold pulls critical mineral antimony from Limo Butte property in Nevada
Read more: NevGold uncovers high-grade multi-metallic mineralization in Idaho
American government needs antimony for military tech
The silvery-white metalloid element is essential for explosives, infrared sensors, flares, armour-piercing bullets and even nuclear weapons. The Department of Defense (DoD) and other American agencies have been taking a keen interest in securing reliable sources of it.
The DoD has given Perpetua Resources approximately US$75 million to advance its antimony asset, showcasing this high level of intrigue.
“Antimony has been listed as a mineral critical to U.S. economic and national security by the U.S. Department of Interior, a distinction also held by rare earth elements, cobalt, and uranium,” the U.S. International Trade Commission has highlighted.
A recently updated report from Fortune Business Insights estimated that the global antimony market would be worth approximately US$700 million more than it is currently by 2032 at US$1.78 billion.
In addition to NevGold and Perpetua, antimony stocks worthy of consideration include United States Antimony Corp (NYSEAMERICAN: UAMY), Mandalay Resources Corp (TSE: MND) (OTCMKTS: MNDJF) and Military Metals Corp (CNSX: MILI) (OTCMKTS: MILIF) (FRA: QN90).
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rowan@mugglehead.com
