NevGold Releases Significant Oxide Gold-Antimony Results: 11.41 g/t AuEq Over 6.1 Meters (10.60 g/t Au And 0.18% Antimony) Within 2.19 g/t AuEq Over 56.4 Meters (1.74 g/t Au And 0.10% Antimony) at the Limousine Butte Project, Nevada
Globenewswire·2025-09-25 12:00

Core Insights - NevGold Corp. announced significant historic oxide gold-antimony results at its Limousine Butte Project in Nevada, indicating promising prospects for further exploration and development in a key mining jurisdiction [1][3]. Company Activities - The company is actively exploring the Limo Butte Project with a focus on expanding the oxide gold-antimony mineralization footprint and aims to advance towards an initial Mineral Resource Estimate (MRE) [3][4]. - The current 2025 drill program has completed 8 holes with assays pending, and the company is also advancing Phase II metallurgical testwork based on positive Phase I results [3][4]. Geological Insights - Historical geological data review has identified multiple areas with strong gold-antimony potential, particularly associated with the Devonian Pilot Shale, which is known for Carlin-type gold mineralization [13][14]. - Historical mining operations within the project boundary have previously extracted antimony, indicating a history of mineralization in the area [14][15]. Industry Context - Antimony has been designated as a "Critical Mineral" by the U.S. government, essential for national security and various technological applications, with no current domestic supply [19][20]. - The U.S. Executive Order aims to strengthen domestic mineral production and reduce reliance on foreign sources, which is particularly relevant given recent export restrictions from China [16][18]. Market Dynamics - Approximately 90% of the world's antimony supply is produced by China, Russia, and Tajikistan, with recent restrictions from China exacerbating supply chain concerns [20]. - The U.S. Department of Defense has prioritized domestic production of antimony to mitigate supply chain disruptions, highlighting the importance of projects like Limousine Butte [20][21].