Exceptional Drill Results from NevGold's Limousine Butte
Vancouver, British Columbia — NevGold Corp. (“NevGold” or the “Company”) (TSXV: NAU) (OTCQX: NAUFF) (Frankfurt: 5E50) is thrilled to announce powerful drill results from its Limousine Butte Project in Nevada. These findings are evidence of the strong gold-antimony potential that could open new avenues for exploration and development in this renowned mining region.
Key Highlights of the Recent Drilling
NevGold has revealed some of the most impressive oxide gold-antimony grades recorded to date at Resurrection Ridge, including:
- LB21-004: 9.68 g/t AuEq over 11.6 meters (8.92 g/t Au and 0.17% Sb), within 2.85 g/t AuEq over 60.3 meters (2.27 g/t Au and 0.13% Sb).
- RR03_06: 1.55 g/t AuEq over 19.8 meters (0.88 g/t Au and 0.15% Sb) within 1.24 g/t AuEq over 65.5 meters (0.52 g/t Au and 0.16% Sb).
- LB020: 1.20 g/t AuEq over 33.9 meters (0.35 g/t Au and 0.19% Sb) within 0.85 g/t AuEq over 58.2 meters (0.25 g/t Au and 0.13% Sb).
Gold equivalents (AuEq) are calculated based on a USD 2,000/oz gold price and a USD 35,000 per tonne antimony price.
Advancing Towards Mineral Resource Estimates
The drilling at Resurrection Ridge is designed with specific spacing to potentially lead the Project to an initial gold-antimony Mineral Resource Estimate (MRE) planned for 2025. Significant high-grade zones within the eastern section of Resurrection Ridge are slated for testing in future drilling programs.
Ongoing Metallurgical Studies
NevGold has also initiated a metallurgical testwork program, with results anticipated in the upcoming weeks. This program is essential for understanding the extraction efficiencies from the ore, supporting better project development.
2025 Exploration Plans
Looking to the future, NevGold is committed to an active exploration agenda at Limousine Butte that includes:
- Revisiting the historical geological database, focusing on significant assay results for gold and antimony.
- Reanalyzing past drilling to extract new insights into the distribution of resources.
- Continuing the metallurgical testing program and preparing for a drilling campaign starting in July, aimed at targeted gold-antimony intersections.
Geological Insights of the Limousine Butte Project
Studies have highlighted various zones with promising gold-antimony potential, largely correlated with the outcrops of the Devonian Pilot Shale. This region is integral for Carlin-type gold mineralization, with several instances of high-grade antimony reported from historical mining sites.
Historical Mining Operations
The area previously housed two small-scale mining operations which targeted antimony. The Nevada Antimony Mine extracted stibnite from a hydrothermal breccia, while the Lage Antimony Prospect yielded notable additional antimony deposits.
The Importance of Antimony in Today's Landscape
Given its designation as a “Critical Mineral” by the United States, antimony's importance extends beyond economics into national security. It plays a vital role in military applications, clean energy technologies, and various high-tech devices. Most of the world's antimony production is currently concentrated in a few nations, raising concerns over supply chain security.
U.S. Executive Order on Mineral Production
Recent initiatives aim to bolster American mineral production as antimony is essential for national security and technology applications. This includes identifying priority projects for permitting to expedite the development of domestic mineral resources.
Future Prospects and Commitment
NevGold is poised to be at the forefront of expanding the domestic supply of antimony and gold through its Limousine Butte and other projects. With strategic support from government initiatives and an urgent market demand for critical minerals, the Company is committed to advancing exploration and unlocking the potential of these resources.
Frequently Asked Questions
What are the recent drill results at Limousine Butte?
The recent drill results include impressive grades such as 9.68 g/t AuEq over 11.6 meters and 2.85 g/t AuEq over 60.3 meters.
How does NevGold plan to utilize these results?
NevGold intends to move towards creating an initial Mineral Resource Estimate while continuing exploration and metallurgical testwork to further assess the project's potential.
What geological features contribute to gold-antimony presence?
Gold and antimony mineralization at Limousine Butte is closely associated with the Devonian Pilot Shale, which is known for hosting Carlin-type deposits.
Why is antimony classified as a 'Critical Mineral'?
Antimony is essential for various applications in military technology and clean energy, thus its production is crucial for national security.
What future activities are planned by NevGold?
NevGold plans to continue exploring the Limousine Butte site, focusing on both historical data analysis and upcoming drilling campaigns to unlock further potential.
