Nevada-focused exploration company NevGold Corp. (TSXV: NAU, OTCQX: NAUFF, FRA: 5E50) is reporting promising gold and antimony discoveries at its Limousine Butte Project in Nevada. By leveraging an extensive historical geological database, NevGold is tapping into the substantial potential of the project.
Historical drilling data from Newmont Corporation (NYSE:NEM) reveals notable near-surface gold-antimony intercepts, including:
- LIM-40: 4.07 g/t AuEq* over 54.9 meters (1.20 g/t Au and 0.64% Sb), including 6.60 g/t AuEq* over 12.2 meters (2.12 g/t Au and +1% Sb)
- LIM-45: 3.02 g/t AuEq* over 36.6 meters (1.23 g/t Au and 0.40% Sb), including 4.83 g/t AuEq* over 12.2 meters (0.35 g/t Au and +1% Sb)
- LIM-48: 2.61 g/t AuEq* over 61.0 meters (0.77 g/t Au and 0.41% Sb), including 3.82 g/t AuEq* over 24.4 meters (0.37 g/t Au and 0.77% Sb)
*NevGold advises that Gold equivalents (“AuEq”) are based on assumed metals prices of US$2,000/oz of gold and US$35,000 per tonne of antimony (~30% discount to current spot prices) and assumed metals recoveries of 85% for gold and 70% for antimony.
The company believes there is significant upside in the antimony grades, as historical drilling had an upper detection limit of 1% Antimony, which many intervals exceeded. Historical small-scale antimony mining operations have been identified within the project area at the Nevada Antimony Mine and Lage Antimony Prospect.
Multiple zones, including Resurrection Ridge and Cadillac Valley, show extensive gold-antimony mineralization across a large area. All gold-antimony prospective areas are fully permitted for drilling under the Limo Butte Plan of Operations.
Antimony is classified as a “Critical Mineral” in the United States, crucial for national security, clean energy, and technology applications. With approximately 90% of the world’s antimony supply currently sourced from China, Russia, and Tajikistan, the discovery at Limousine Butte is particularly significant. China’s recent restrictions on antimony exports to the United States have further heightened concerns about global supply chain vulnerabilities, making domestic sources even more valuable.
NevGold is set to continue its active exploration program at the project. The program involves evaluating the historical geological database with a specific focus on gold and antimony, as well as re-analyzing historical drilling data to better understand the potential for both metals. Following these evaluations, the company plans to conduct drill tests on identified gold-antimony targets, contingent upon the results of the initial assessments. This approach aims to unlock the project’s dual-commodity potential, leveraging its strategic position in a prolific mining jurisdiction.
Brandon Bonifacio, CEO of NevGold, stated, “The discovery of significant gold-antimony drill results in historical drillholes is an important, emerging development at our Limo Butte oxide gold-antimony project. The timing and market conditions are opportune to re-awaken the gold-antimony potential at Limo Butte.”
