NevGold's Oxide Gold-Antimony Discovery Boosts Mining Prospects
NevGold's Rose in Gold-Antimony Mining Opportunities
In recent developments, NevGold Corp. (“NevGold”, TSXV: NAU, OTCQX: NAUFF, Frankfurt: 5E50) has unveiled notable advancements at its Limousine Butte Project, where they identified further substantial oxide gold-antimony drilling results. This revelation is a significant step in realizing the vast potential of the project and highlights the promising pathways for exploration and further development in the heart of the mining sector.
The world of mining is intricate, and NevGold is steadily carving a prominent place for itself. With the recent drilling campaign at Resurrection Ridge, the company has uncovered some of the highest grades yet observed. Notable highlights from these efforts include exciting intervals such as 7.04 grams per tonne (g/t) of gold equivalent (AuEq) over 15.2 meters, which consists of 6.37 g/t gold and 0.15% antimony.
Key Findings from Resurrection Ridge
The data emerging from Resurrection Ridge certainly captures the attention of investors and mining professionals alike. Drilling results show:
- LIM-46: 7.04 g/t AuEq over 15.2 meters, indicating a robust gold and antimony presence.
- LB016: 0.61 g/t AuEq over 36.6 meters from surface, indicating a significant extension of mineralization over 400 meters along strike.
With these results, the mineralization footprint has dramatically expanded to over 800 meters at Resurrection Ridge. This builds confidence in the long-term potential of the project, as the broader strike length between Resurrection Ridge and Cadillac Valley stretches over 5 kilometers.
Forward Plans and 2025 Activities
As NevGold continues to build on its findings, a comprehensive metallurgical testwork program has been initiated utilizing a bulk sample from the site. The outcomes of these tests are anticipated in the coming weeks, paving the way for substantial advancements in the project.
The company's plans for 2025 are outlined to prioritize various activities aimed at augmenting the understanding of mineral resources:
- Deep evaluation of historical geological databases focused on gold and antimony.
- Re-assessment of prior drilling results to ensure no potential has been overlooked.
- Test drills targeted at significant gold-antimony zones that demonstrate promise.
Geological Insights into Limousine Butte
The geology of the Limo Butte Project is both rich and indicative of extensive mineral resources. Historical data has underscored areas demonstrating strong potential for gold-antimony mineralization, particularly linked to Devonian Pilot Shale formations. This shale is known as a key host rock for gold, and ongoing examinations are revealing valuable insights into its mineralization characteristics.
NevGold's Commitment to Exploration
NevGold's exploration strategy focuses not only on evaluating existing resources but also on seeking new opportunities. Continued drilling and strategic reviews bolster their commitment to expanding knowledge on gold and antimony resources within their operational areas. The engagement with marketing consultants further enhances the visibility of NevGold’s discoveries and ambitions in the mining landscape.
CEO Brandon Bonifacio remains optimistic, stating, “With over 800 meters defined at Resurrection Ridge and significant potential yet to be explored, we aim to rapidly proceed towards a mineral resource estimate in 2025. This momentum can transform the outlook for the company and its stakeholders.”
Frequently Asked Questions
What has NevGold discovered at the Limousine Butte Project?
NevGold has reported significant oxide gold-antimony drill results, including 7.04 g/t AuEq over 15.2 meters and further extensions of mineralization.
What is the significance of the metallurgical testwork program?
The metallurgical testwork program is crucial for determining the optimal methods to recover gold and antimony from the mineralization at the project.
What are the future plans for NevGold in 2025?
NevGold plans to evaluate historical geological data, continue drilling, and carry out metallurgical tests to enhance resource understanding and exploration.
How is the geology of Limousine Butte related to its mining potential?
The presence of Devonian Pilot Shale as a host rock indicates a significant potential for gold-antimony mineralization, providing a solid foundation for future exploration efforts.
What markets are impacted by NevGold's discoveries?
The discoveries at Limousine Butte are set to influence both the gold and antimony markets, especially given global supply chain concerns and demand for domestic production.
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