NevGold Unveils Promising Oxide Gold-Antimony Results at Limo Butte
Significant Gold-Antimony Discoveries at Limo Butte
NevGold Corp. (TSXV: NAU) (OTCQX: NAUFF) has revealed compelling new findings from its Limousine Butte Project, demonstrating notable potential for oxide gold-antimony mineralization. These results not only confirm the project's value but also suggest promising avenues for further exploration and development.
Key Highlights of the Latest Results
Recent drilling has unveiled several noteworthy segments of high-grade oxide gold-antimony mineralization:
- RR03_01: 11.41 g/t AuEq over 6.1 meters (10.60 g/t Au and 0.18% Sb) within a broader section showing 2.19 g/t AuEq over 56.4 meters (1.74 g/t Au and 0.10% Sb).
- LB010: 3.19 g/t AuEq over 26.2 meters (2.24 g/t Au and 0.21% Sb).
- LB028: 4.62 g/t AuEq over 6.1 meters (0.14 g/t Au and 1.0% Sb).
- LB133: 1.78 g/t AuEq over 12.2 meters (0.11 g/t Au and 0.37% Sb).
The estimations of gold equivalents (AuEq) are determined based on specific assumed metal prices and recovery rates, highlighting the project's ongoing economic viability.
Drilling Campaign and Future Milestones
This year, NevGold has completed eight drill holes with further assays forthcoming. Based on previous successful drilling since 2021 and historical operations at the site, there is a strong outlook for achieving an initial mineral resource estimate for gold and antimony within 2025.
Metallurgical Testing
As part of the ongoing development, metallurgical testwork focused on gold and antimony continues, with favorable results expected soon. This phase is critical in evaluating the extraction methods that will be applied for optimal project economics.
Exploration Activities Planned for 2025
NevGold's exploration strategy for Limousine Butte includes:
- Comprehensive evaluation of the historical geological database.
- Continuous analysis of historical drilling focused on gold and antimony.
- Advancement of metallurgical testwork from Phase II.
- Continuation of drilling efforts targeting high-grade gold-antimony zones.
- Development of an initial mineral resource estimate.
Geological Insights and Historical Results
The geological review has unearthed strong correlations between gold-antimony mineralization and the Devonian Pilot Shale. This rock formation is known as a primary host for Carlin-type mineralization in the region. Historical mining operations have occurred at multiple sites within the project boundary, yielding significant antimony. These findings augment NevGold's position in the mining sector, emphasizing the project's rich history and potential for additional discoveries.
Market Context and Antimony's Importance
Antimony is recognized as a critical mineral in the United States, emphasizing its role in national security and technological advancements. With growing concerns surrounding antimony supply, particularly from major global producers, the U.S. is focusing on strengthening domestic production. This priority aligns with NevGold's ongoing exploration efforts at Limo Butte, which could play a vital role in addressing anticipated shortages.
Company Overview
NevGold is dedicated to exploring and developing substantial mineral systems, owning interests in various projects across Nevada and Idaho, including the Limousine Butte and Cedar Wash gold projects. The company aims to establish itself as a notable player in the gold-antimony mining sector.
Frequently Asked Questions
1. What recent discoveries did NevGold announce?
NevGold unveiled high-grade oxide gold-antimony results from drill holes at its Limousine Butte Project with remarkable gold equivalents.
2. What are the implications of these findings?
The findings indicate strong potential for growth and development of a mineral resource estimate focused on gold and antimony.
3. How is NevGold advancing its exploration activities?
NevGold has undertaken a strategic drilling program while performing metallurgical testing to optimize resource recovery efficiently.
4. Why is antimony considered a critical mineral?
Antimony is vital for military applications, clean energy, and technology, thus designated as a critical mineral in the U.S.
5. What are the future plans for NevGold's projects?
The company aims to leverage its findings into a comprehensive mineral resource estimate while continuing to explore the vast potential of its projects.
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