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Ora Gold Limited (“Ora” or the “Company”, ASX: OAU) is pleased to announce exceptional high-grade gold intercepts from recent slim reverse circulation (RC) drilling at the Crown Prince Gold Prospect (M51/886).
Highlights:
- High-grade gold results returned from drilling at the South-Eastern Ore Body (SEB) of Crown Prince Gold Prospect. High grades returned from the hinge zone of the newly delineated SEB anticline.
- These results come from along strike to the north-east of the SEB structure and indicate the lode is folded with a northern limb showing exceptional mineralisation. Best intercepts include:
40m @ 17.53g/t Au from 30m incl. 19m @ 36.8g/t Au from 35m in OGGRC488
16m @ 35.77g/t Au from 28m and 3m @ 20.38g/t Au from 10m in OGGRC489
13m @ 21.9g/t Au from 32m and 9m @ 6.22g/t Au from 57m in OGGRC490
12m @ 9.73g/t Au from 6m in OGGRC483
21m @ 2.53g/t Au from surface in OGGRC502 and
25m @ 2.00g/t Au from 3m in OGGRC491
- Following earlier high-grade results (8 May & 22 May ASX releases) the Company has undertaken a diamond program to test SEB mineralisation at depth. Four diamond drill holes targeting SEB mineralisation below 100m vertical depth have been drilled from surface and all have intersected sheared and potentially mineralised zones with assays pending.
- From geological logging, the down dip extension of the CVX lode within SEB was intersected at 212m by the deepest diamond hole drilled in this area, with sample results (assays) pending.
Drill holes in the current program have successfully delineated extensions to mineralised zones along strike of known mineralisation (to the north-west) and in down-dip positions. In several areas new zones of gold mineralisation are indicated to be present in the footwall to previously drilled lodes.
The Crown Prince south-east extension (SEB) continues to develop as a key growth area for gold resources at the prospect.
Ora Gold’s CEO Alex Passmore commented: “We are pleased to report very high-grade extensions to known mineralisation at the SEB ore body, part of the Crown Prince Prospect. These results indicate that the SEB mineralisation is folded in a steeply south westerly plunging anticline with the north-eastern limb being strongly mineralised. With recent results returned from the primary zone showing good continuity to mineralisation, these results have great impact for mineralisation modelling at Crown Prince Prospect. Further encouragement comes from our diamond drilling which has targeted deeper zones and is interpreted to have intersected the mineralised structure at depth. These results will be used in an upcoming resource estimation. All data received so far suggests the SEB zone mineralisation commences at surface, is high-grade over good widths and hence is likely to show robust economic outcomes in any conceptual mining scenario.”
The Crown Prince Prospect is a high-grade gold deposit within Ora Gold’s Garden Gully Project. Crown Prince is located 22km north-west of Meekatharra in Western Australia via the Great Northern Highway and the Mt Clere Road (Figure 1).
About one third of the assay results from the recent slim RC drill program undertaken in June targeting the SEB have been received (Table 1, Appendix 1 & Figure 2). The program consisted of 44 holes totaling 3,213m.
A diamond drill program was also concurrently undertaken and consisted of two diamond tails on Main Ore Body (MOB) and four holes with coring from surface over the SEB (see Photo 1 below). All assay results are pending.
The results in this release include a new high-grade extension to the SEB and a new structural interpretation for mineralised shoots at Crown Prince (Figure 2). Mineralised envelopes are contorted and folded between northerly trending sheers. MOB mineralisation occurs in a steep south-east plunging anticline. SEB mineralisation is hosted within a steep south westerly plunging anticline. The two zones are separated by a northerly trending shear zone (Figure 2).
This structural interpretation is based on high grade envelopes encountered in recent RC drilling and also core logging from recent diamond drilling.
All hole details and sampling information are included in Tables 1 and 2. Assay results received to date with more than 0.1ppm Au are included in Appendix 1.
Photo 1 - DDH1 Rig 28 Diamond Drilling at Crown Prince Targeting Depth Extensions to Mineralisation (Recent RC pads can be seen in the background along the line of gold mineralisation)
Figure 1. Garden Gully tenements and location of OAU’s gold prospects
Figure 2. Significant Intercepts with recent RC drill hole collars, DD hole traces and new interpreted structural setting at Crown Prince Prospect
South-Eastern Ore Body (SEB)
Exceptional high-grade gold intercepts have been returned and are reported in this release (Table 1, Appendix 1 & Figure 2). They are located over the eastern flank of the newly interpreted anticline structure of SEB (Figures 2, 3 and 4). Assays from two more RC holes are still pending (OGGRC534-535) and both are expected to return gold grades (Figure 4).
The new interpreted structural model shows that the exceptional grades are located on the hinge of the anticline plunging south-westerly and a series of saddle reefs appear to be well preserved (Figure 3). A diamond hole OGGDD537 was drilled north-westerly under the anticlinal structure and a wide sheared (+/- mineralised) zone was intersected between 128-147m down hole (Assays pending, see Photo 2, Figure 2).
Three diamond holes have targeted the down-dip mineralisation of the previously announced intersections at CVX Lode (Figure 4). All have intersected sheared (+/- mineralised) zones confirming the prospectivity and down dip continuity of the hinge zone of the anticlinal structure at SEB (Figure 4). Assay results are pending on both DD and RC holes displayed in blue color.
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NevGold
Investor Insight
With a sharp focus on discovery and resource growth, NevGold presents a compelling investment opportunity as an undervalued gold and critical metals explorer with projects in Nevada and Idaho—two of the world’s top mining jurisdictions.
Overview
NevGold (TSXV:NAU,OTCQX:NAUFF,FSE:5E50) is focused on discovering and growing a multi-million-ounce gold-equivalent resource base across Nevada and Idaho in the US. With a lean market capitalization of under C$50 million and a pipeline of highly prospective oxide and porphyry assets, the company is positioned for a significant valuation re-rate over the next 12 to 18 months as it executes on its resource growth and de-risking strategy.
The company is rapidly advancing toward its goal of defining a 5 Moz+ gold-equivalent resource base by Q4 2025, anchored by its flagship Limo Butte project – one of North America’s rare oxide gold-antimony systems – and its gold resource at Nutmeg Mountain, along with early-stage copper potential at Zeus.
The Limo Butte project is a high-grade oxide gold-antimony system in Nevada with strong analogues to Carlin-style mineralization and excellent near-surface drill results. Nutmeg Mountain in Idaho is an advanced-stage, heap-leach gold project with 1.3 Moz in defined resources and favorable metallurgy. Zeus, an early-stage copper project staked in 2023, provides blue-sky porphyry exploration potential in a district that has already attracted major interest, including a C$30 million investment by Barrick Gold in a neighboring property.
NevGold is actively executing on drill programs, metallurgical studies, and resource updates across all three projects, fully funded through its recent capital raise. The company is well positioned to benefit from rising gold and copper prices, increasing strategic demand for antimony, and a growing appetite among major mining companies for high-quality, undervalued juniors – all under the leadership of a proven team with deep expertise in mine development and M&A.
Company Highlights
- Multi-million-ounce Target: NevGold is on track to define 5+ Moz gold equivalent in combined resources at Limo Butte and Nutmeg Mountain by Q4 2025.
- Gold+Antimony Critical Metals Advantage: Limo Butte is emerging as a significant near-surface oxide gold-antimony system – one of only two of its kind in the United States.
- Substantial Resource Base: Nutmeg Mountain contains a 2023 NI 43-101 compliant oxide gold resource of 1.28 Moz (indicated + inferred), with strong exploration upside and favorable heap-leach characteristics.
- District-scale Copper Exposure: Zeus offers early-stage copper-gold-molybdenum potential in a highly active porphyry belt, adjacent to a Barrick-backed discovery.
- Strategic Location, Strategic Commodities: All projects are located in mining-friendly jurisdictions with excellent infrastructure, low geopolitical risk, and growing US demand for domestic gold and critical mineral supply.
- Fully Funded Growth: Recent C$6 million financing supports 2025 drill campaigns, metallurgical testwork, and updated NI 43-101 estimates across the portfolio.
- Tight Capital Structure & Strong Support: Backed by strategic shareholders including GoldMining and McEwen Mining.
- Significant Valuation Gap: Trading at a fraction of peers such as Perpetua Resources (~C$1.7 billion), despite similar resource and jurisdictional advantages.
Key Projects
Limo Butte Project
The Limo Butte Project is NevGold’s cornerstone development asset, located in eastern Nevada within a prolific Carlin-style geological setting. The project encompasses 1,724 hectares consisting of 210 unpatented claims, 12 patented claims and private land leases. Historically explored in the 2000s, a 2009 non-43-101-compliant resource estimate outlined 241 koz of gold in the measured and indicated category (0.78 g/t gold) and 51 koz in the inferred category (0.70 g/t gold).
In 2025, NevGold re-assayed approximately 50 legacy drillholes and completed more than 5,000 meters of new RC drilling across the Resurrection Ridge and Cadillac Valley zones, revealing a substantial near-surface gold-antimony mineralized footprint.
Notably, recent drill intercepts returned thick oxide intervals, including:
- 1.11 g/t gold and 0.30 percent antimony (2.46 g/t gold equivalent) over 86.9 m, including 1.83 g/t gold and 0.87 percent antimony (5.75 g/t gold equivalent) over 12.8 m
- 2.26 g/t gold and 0.32 percent antimony (3.69 g/t gold equivalent) over 22.3 m
- 1.20 g/t gold and 0.64 percent antimony (4.07 g/t gold equivalent) over 54.9 m
These results confirm strong grade continuity and a positive spatial correlation between gold and antimony mineralization. Importantly, historical assays had a detection limit of 1 percent antimony, meaning actual antimony content in several zones is likely underreported.
Mineralization begins within 20 meters of surface, supporting low-strip, open-pit mining scenarios.
Metallurgical test work is underway, evaluating flowsheet options for gold and antimony recovery. A conceptual flowsheet includes gravity concentration, flotation and leaching stages to produce marketable gold and antimony products, including potential for antimony metal recovery via roasting.
NevGold aims to complete a maiden NI 43-101 compliant gold-antimony resource estimate by Q4 2025, setting the foundation for future economic studies.
Nutmeg Mountain Project
Nutmeg Mountain is an advanced oxide gold project located 80 km northwest of Boise, Idaho. The project benefits from exceptional infrastructure, road access and proximity to water and power. NevGold’s 2023 NI 43-101-compliant mineral resource estimate defined 1.01 Moz of gold in the indicated category (51.7 Mt @ 0.61 g/t gold) and 275 koz inferred (17.9 Mt @ 0.48 g/t gold), using a 0.30 g/t cut-off.
Mineralization starts at surface and exhibits strong lateral and vertical continuity. The deposit is hosted in volcanic and sedimentary units, with mineralization controlled by both lithological and structural features. The pit-constrained resource has a strip ratio of less than 1:1, highlighting the project’s potential for low-cost, bulk tonnage heap leach development. Additional drilling has confirmed the presence of higher-grade core zones (1 to 2 g/t gold), as well as potential feeder structures below the 2023 pit shell.
Current work comprises approximately 2,500 meters of RC drilling, metallurgical test work and an updated MRE planned for late 2025. Exploration targets include untested lateral extensions and high-grade feeder structures at depth. Nutmeg Mountain compares favorably to peer heap-leach projects across the Western US in terms of grade and strip ratio. It offers near-term development optionality in a mining-friendly jurisdiction and is a key contributor to NevGold’s goal of surpassing 5 Moz in gold-equivalent resources.
Zeus Copper Project
Zeus is an early-stage copper-gold-molybdenum exploration asset located on the Hercules Copper Trend in western Idaho. The project spans 29 sq km and shares similar geologic features with Hercules Metals’ Hercules Project (TSXV:BIG), which received a C$30 million strategic investment from Barrick Gold in 2023.
Zeus sits at the structural intersection of the Olds Ferry and Izee terranes, and hosts Triassic to Jurassic intrusives associated with porphyry-style mineralization. Geological mapping and surface sampling have revealed two priority targets:
- Poseidon: 2.4+ km copper-gold-molybdenum soil anomaly with coincident structural and rock chip indicators
- Thorn Springs: 1+ km copper-gold-molybdenum soil anomaly with interpreted intrusive-hosted alteration
Soil surveys were completed in early 2025, and geophysical work is ongoing to refine drill targeting. Initial drilling is anticipated by late 2025. With no prior modern exploration, Zeus offers blue-sky potential for a significant copper discovery in a highly prospective but underexplored belt. Zeus enhances NevGold’s exposure to critical minerals and provides optionality in the copper sector – particularly relevant given tightening global copper supply and increasing US strategic interest in domestic copper sources.
Management Team
Brandon Bonifacio – President, CEO and Director
Brandon Bonifacio is a mining executive with over a decade of experience in project development and M&A. Previously served as finance director of the Norte Abierto JV (Cerro Casale/Caspiche) for Goldcorp (now Newmont), and a senior member of Goldcorp’s Corporate Development group. He holds an MASc in mining engineering and MBA from the University of Nevada, Reno.
Greg French – VP Exploration and Director
Greg French is a professional geologist with over 35 years of exploration and development experience in the US and Canada. He has held leadership roles in Nevada Copper, Homestake and Atlas Precious Metals, and has guided multiple projects through feasibility and into production.
Bob McKnight – EVP, CFO and Corporate Development
Bob Knight is a professional engineer with an MBA and more than 40 years of mining experience. He was involved in over $1.5 billion in debt, equity and M&A deals. Knight brings strategic and financial depth to NevGold’s growth trajectory.
