Inca Minerals (ASX:ICG) is an Australian exploration company focused on uncovering high-grade gold and gold-antimony mineralization. The company recently acquired Stunalara Metals, a transformational deal that enhances its exploration assets.
Inca Minerals' flagship Hurricane Project in Northern Queensland presents exceptional exploration potential, benefiting from a highly prospective geological setting. With record gold prices and rising demand for critical minerals, Inca is strategically positioned to seize this growing market opportunity.
Gold and antimony prospects at the Hurricane projectInca Minerals is committed to advancing its flagship Hurricane Project through a high-impact exploration strategy. The company plans to launch a shallow drilling program in Q2 2025, targeting high-priority gold-antimony mineralization identified through rock chip sampling and structural mapping.
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With a clear, execution-focused strategy, Inca Minerals is poised to become a leading gold and antimony exploration company in Australia. The company is led by an experienced management team dedicated to unlocking value through strategic exploration and resource development.
Inca Minerals (ASX:ICG) is an Australia-focused exploration company targeting high-grade gold and gold-antimony mineralization. The company’s strategy is underpinned by its recent acquisition of Stunalara Metals, a transformational deal that strengthens its portfolio with high-grade exploration assets. The Hurricane project in Northern Queensland is Inca’s key focus, offering exceptional exploration potential in a region with significant structural controls for mineralization. With a strong macro backdrop of record gold prices and increasing demand for critical minerals, Inca is well-positioned to capitalize on this market opportunity.
Inca Minerals' primary objective is to advance the flagship Hurricane project through an aggressive exploration strategy. The company plans to initiate shallow drilling in Q2 2025, targeting high-priority gold-antimony mineralization identified from rock chip sampling and structural mapping. Concurrently, Inca is conducting geophysical and geochemical surveys to refine drill targets and expand the exploration footprint, ensuring a comprehensive approach to unlocking the project’s full potential.
Recognizing the increasing demand for critical minerals, Inca is strategically positioning itself as a key player in the antimony market. With China imposing export restrictions on this vital commodity, global supply constraints present a significant opportunity for Inca. The company aims to capitalize on this trend by advancing its high-grade gold-antimony deposits at Hurricane, demonstrating the economic viability of the project. Additionally, Inca is focused on educating the market about antimony’s essential role in energy transition, defence and high-tech applications, further reinforcing its value proposition to investors.
Beyond Hurricane, Inca is committed to maintaining a balanced and de-risked exploration portfolio. The company plans to commence fieldwork at the Mt Read project in Tasmania in late 2025, evaluating its potential for polymetallic mineralization, including copper, lead, zinc and gold.
The Hurricane project is Inca Minerals’ flagship asset, located in Northern Queensland, approximately 110 km west-northwest of Cairns. The project consists of three tenements positioned within a structurally favorable corridor between the Hurricane and Retina Faults. The project is highly prospective for gold and antimony mineralization, with multiple high-grade targets identified through historical and recent rock chip sampling.
Recent assay results from Hurricane confirm the presence of significant gold and antimony grades, with highlights including 81.5 grams per ton (g/t) gold at Hurricane South, 12.95 g/t gold at Hurricane North, and 35.1 percent antimony at Bouncer. Despite these impressive surface results, the project remains undrilled, offering a rare opportunity to test a virgin high-grade gold-antimony system. The mineralization is epithermal in nature, hosted within structurally controlled quartz veins that show strong alteration signatures, suggesting a robust hydrothermal system.
Gold and antimony prospects at the Hurricane project
Inca plans to commence an initial shallow drilling program in Q2 2025, targeting the highest-priority areas identified from geochemical and structural mapping. The company is also conducting geophysical surveys and additional rock chip sampling to refine its understanding of the mineralized system and expand its exploration footprint.
With a strong technical basis and excellent exploration upside, Hurricane is positioned as a potential near-term discovery opportunity for high-grade gold and antimony resources.
The Mt Read project is an early-stage exploration asset located in Tasmania, a region well-known for its polymetallic mineralization. While not the immediate focus of Inca’s exploration strategy, Mt Read presents a significant longer-term opportunity for base metals, including copper, lead, zinc and, potentially, gold. The project is situated within a geologically prospective setting that has seen limited modern exploration.
Fieldwork at Mt Read is expected to begin in late 2025, following the advancement of the Hurricane project. Initial exploration efforts will include geological mapping, geochemical sampling and geophysical surveys to identify potential drill targets. While still in its infancy, Mt Read aligns with Inca’s strategy of securing highly prospective projects in stable jurisdictions with strong mineral endowments.
Adam Taylor brings more than 20 years of experience in the civil construction and mining sectors. As CEO of a family-owned group of businesses, he oversees operations in mining, construction, waste management, dewatering and infrastructure maintenance across Western Australia. His core competencies include business management, strategy development, contract negotiation and implementing innovative solutions.
Trevor Benson has extensive experience in the mining and finance sectors, having worked with mining companies, investment banks and finance houses. He has completed mergers and acquisitions and capital market transactions across various natural resources and related industries. Benson holds a Bachelor of Science from the University of Western Australia.
With more than 40 years in the mining and exploration industry, Brad Marwood has held executive roles, including CEO and managing director positions at various companies, including Middle Island Resources and Tiger Resources. An engineer by training, he has been responsible for over 50 feasibility studies and has secured $500 million in funding for project development. His expertise encompasses exploration, project implementation, operational management and strategic planning.
Andrew Haythorpe has more than 30 years of experience in the resources and investment industries. His background includes roles as a geologist with CRA, mining analyst with Suncorp and Hartleys, and fund manager at Bankers Trust, managing more than $40 billion. He has raised over $200 million for junior companies and led Crescent Gold from an $8 million explorer to a $250 million gold producer. Haythorpe currently serves as a director of Allup Silica and a non-executive director of Tempest Minerals.
Advancing high-grade gold-antimony project in Northern Queensland
Gold chart, April 4 to April 11, 2025.
Chart via the Investing News Network.
During the week, Trump reversed course on some of the tariff measures he announced on April 2.
Those measures included a 10 percent tariff on all but a handful of countries, including Canada and Mexico, with more severe reciprocal tariffs to come into effect this week. However, on Wednesday (April 9), Trump announced he would pause the additional tariffs for 90 days, saying more than 70 countries had contacted him to make deals.
Trump may have also been feeling pressure from economic advisors as a surge in treasury yields signaled a potential economic crisis brewing in the US bond market. Normally a safe haven during market volatility, the bond market saw a significant selloff this week as US tariffs and worries about the US economy's stability spooked traders.
Although the pause gave most countries some breathing room, tariffs against China were left on the table. After much back and forth, US tariffs levied against China have now increased to 145 percent.
The net effect of Trump's actions has been political and financial turmoil, sparking selloffs in major stock markets and pushing prices for safe-haven assets like gold to fresh records.
Additionally, China, Japan and South Korea agreed on March 30 to seek deeper free trade ties in response to the threat of tariffs from the US government. The deal marks a significant move by the three countries following decades of US diplomacy to maintain close relationships with Japan and South Korea.
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Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) will release its Q1 2025 results on Wednesday, May 7, 2025. President and CEO Mark Bristow will host a live presentation of the results that day at 11:00 EDT, with an interactive webinar linked to a conference call. Participants will be able to ask questions.
Q1 RESULTS ANNOUNCEMENT
The webinar will remain on the website for later viewing and the conference call will be available for replay by telephone at 1 855 669 9658 (US and Canada toll-free) and +1 412 317 0088 (international toll), replay access code 2985555.
The Q1 2025 presentation materials will be available on Barrick's website at www.barrick.com .
Enquiries:
Claudia Pitre
Investor Relations and Corporate Access
+1 416 307 5105
Email: investor@barrick.com
Kathy du Plessis
Investor and Media Relations
+44 20 7557 7738
Email: barrick@dpapr.com
Website: www.barrick.com
News Provided by GlobeNewswire via QuoteMedia
NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce that it has discovered further significant oxide gold-antimony (“Antimony”, “Sb”) drill results at the Cadillac Valley target area at its Limousine Butte Project (the “Project”, “Limo Butte”) in Nevada. The Company continues to unlock the substantial gold-antimony potential of the Project, highlighting its promising prospects for further exploration and development in Nevada, one of the world’s prolific mining jurisdictions.
Key Highlights
Limo Butte Planned 2025 Activities / Status Update
NevGold will continue its active exploration program at Limo Butte including:
Figure 1 – Limousine Butte Gold-Antimony Project with selected gold-antimony drillhole results.
To view image please click here
Figure 2 – Limousine Butte Gold-Antimony Project cross-section with selected gold-antimony drillhole results. Thin colored discs show Antimony (Sb ppm) in drilling, and wide colored discs show Gold (Au ppm) in drilling.
To view image please click here
NevGold CEO, Brandon Bonifacio, comments: “The discovery of more significant oxide gold-antimony drill results in drillholes at Cadillac Valley is a key development at our Limo Butte oxide gold-antimony project. Cadillac Valley is over 2 km from Resurrection Ridge, and we have now defined over 5 km of strike length between these two advanced target areas. The oxide gold-antimony grades, near-surface mineralization, and hole thickness highlight the significant gold-antimony potential that we have at the Project. We continue to analyze and re-assay holes from both Resurrection Ridge and Cadillac Valley and we have a number of holes to release with combined gold-antimony results. The timing and market conditions are opportune to continue to advance the gold-antimony potential at Limo Butte as there is a clear commitment from the United States to advance high-quality, domestic, mineral projects.”
Historical and Re-Assayed Drill Results
| Hole ID | Length, m* | g/t Au | % Sb | g/t AuEq** | From, m | To, m |
| Cadillac Valley | ||||||
| LB22-007 | 169.2 | 0.89 | 0.18% | 1.70 | 213.5 | 382.7 |
| including | 54.4 | 2.26 | 0.13% | 2.85 | 213.5 | 267.9 |
| also including | 3.10 | 0.76 | 2.76% | 13.15 | 259.2 | 267.9 |
| LB22-006 | 124.7 | 0.84 | 0.11% | 1.34 | 127.4 | 252.1 |
| including | 24.3 | 1.32 | 0.20% | 2.23 | 160.6 | 184.9 |
| LB22-019 | 28.9 | 1.09 | 0.04% | 1.27 | 170.7 | 199.6 |
| LB054 | 12.2 | 0.42 | 0.08% | 0.79 | 12.2 | 24.4 |
| Resurrection Ridge | ||||||
| LB006*** | 86.9 | 1.11 | 0.30% | 2.46 | 36.6 | 123.4 |
| Including | 12.8 | 1.83 | 0.87% | 5.75 | 79.2 | 92.0 |
| also including | 6.7 | 2.29 | +1%**** | 6.77 | 85.3 | 92.0 |
| LB001*** | 63.9 | 0.21 | 0.33% | 1.69 | 13.1 | 77.0 |
| including | 17.7 | 0.38 | 0.83% | 4.10 | 55.2 | 72.8 |
| also including | 6.4 | 0.16 | +1%**** | 4.64 | 55.2 | 61.6 |
| LB003*** | 22.3 | 2.26 | 0.32% | 3.69 | 67.1 | 89.3 |
| including | 7.9 | 5.97 | 0.57% | 8.55 | 81.4 | 89.3 |
| LB004*** | 110.4 | 0.19 | 0.12% | 0.73 | 0.0 | 110.4 |
| including | 36.6 | 0.24 | 0.21% | 1.16 | 6.7 | 43.3 |
| LIM-40*** | 54.9 | 1.20 | 0.64% | 4.07 | 18.3 | 73.2 |
| including | 12.2 | 2.12 | +1%**** | 6.60 | 48.8 | 61.0 |
| LIM-45*** | 36.6 | 1.23 | 0.40% | 3.02 | 24.4 | 61.0 |
| including | 12.2 | 0.35 | +1%**** | 4.83 | 36.6 | 48.8 |
| LIM-48*** | 61.0 | 0.77 | 0.41% | 2.61 | 24.4 | 85.4 |
| including | 24.4 | 0.37 | 0.77% | 3.82 | 48.8 | 73.2 |
*Downhole thickness reported; true width varies depending on drill hole dip and is approximately 70 to 90% of downhole thickness.
**The 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.
***Selected drillholes released in previous News Releases on February 27, 2025 and March 26, 2025.
**** Historical drilling had an upper detection limit of 1% Sb but many drill intervals exceeded the limit.
Limo Butte Geology & Antimony Potential
A review of historical geochemical and drilling data at the Limousine Butte Project has identified multiple areas with strong gold-antimony potential. These zones correlate closely with outcrops of the Devonian Pilot Shale, the primary host rock for Carlin-type gold mineralization in the area. Positive gold grade at Limousine Butte is typically associated with silicification and the formation of jasperoid breccias within the Pilot Shale, an alteration feature also observed in the positive antimony results.
Through the Project data review, the Company uncovered reports detailing two small-scale historic mining operations at the Nevada Antimony Mine and Lage Antimony Prospect within the Limo Butte Project boundary. The Nevada Antimony Mine featured two prospect pits that extracted stibnite (formula: Sb2S3) from a hydrothermal breccia. The Lage Antimony Prospect reported historical unverified sampling results with up to 14.46% Antimony with additional prospect pits extracting antimony. The Nevada Bureau of Mines and Geology (“NBMG”) had historical reports on both of these which can be found here: Nevada Antimony Mine Report Lage Antimony Prospect Report
Historical geochemical rock chip sampling within the past-producing Golden Butte pit from a Brigham Young University (“BYU”) Thesis study produced numerous results that exceeded 1% antimony in jasperoid breccias (see Figure 1). Several results were greater then 5% antimony, including a sample of 9.6% antimony with visible stibnite and stibiconite. BYU Thesis Report
NevGold VP Exploration, Greg French, comments: “The antimony re-assay program continues to produce positive gold-antimony results, and we are encouraged by the gold-antimony grade as well as the footprint at Limo Butte. We have currently defined over 5 km of strike length between Resurrection Ridge and Cadillac Valley, and these initial results at Cadillac Valley have a footprint that spans over 1.5 km by 500 meters. We are continuing to analyze the data from both Resurrection Ridge and Cadillac Valley to incorporate results in the planning for the next drill program.”
Figure 3 – Limousine Butte Project with historical antimony in rock chips and soils. The total strike length between Resurrection Ridge and Cadillac Valley is +5km. To view image please click here
Drillhole Orientation Details
| Hole ID | Target Zone | Easting | Northing | Elevation (m) | Length (m) | Azimuth | Dip |
| LB22-007 | Cadillac Valley | 665211 | 4415453 | 2031 | 403.5 | 254 | -86 |
| LB22-006 | Cadillac Valley | 664692 | 4414921 | 2042 | 379.8 | 144 | -77 |
| LB22-019 | Cadillac Valley | 664433 | 4414318 | 2096 | 335.3 | 116 | -66 |
| LB054 | Cadillac Valley | 665323 | 4415090 | 2059 | 157.0 | 0 | -90 |
| LB006 | Resurrection Ridge | 667030 | 4417384 | 2125 | 152.7 | 0 | -90 |
| LB001 | Resurrection Ridge | 667036 | 4417384 | 2125 | 77 | 0 | -90 |
| LB003 | Resurrection Ridge | 667134 | 4417528 | 2133 | 129.4 | 0 | -90 |
| LB004 | Resurrection Ridge | 667313 | 4417277 | 2239 | 198.7 | 270 | -50 |
| LIM-40 | Resurrection Ridge | 667018 | 4417409 | 2124 | 289.6 | 0 | -90 |
| LIM-45 | Resurrection Ridge | 666929 | 4417389 | 2103 | 179.8 | 0 | -90 |
| LIM-48 | Resurrection Ridge | 666927 | 4417374 | 2105 | 286.5 | 0 | -90 |
Figure 4 – Limousine Butte Land Holdings and District Exploration Activity To view image please click here
US Executive Order – Announced March 20, 2025
The Company is pleased to report the recent, sweeping Executive Order to strengthen American mineral production and reduce U.S. reliance on foreign nations for its mineral supply. Antimony (Sb) has been identified as an important “Critical Mineral” in the United States essential for national security, clean energy, and technology applications, yet no domestically mined supply currently exists.
The Executive Order invokes the use of the Defense Production Act as part of a broad United States (“US”) Government effort to expand domestic minerals production on national security grounds. As it relates to project permitting, the Order states that it will "identify priority projects that can be immediately approved or for which permits can be immediately issued, and take all necessary or appropriate actions…to expedite and issue the relevant permits or approvals." Furthermore, the Order includes provisions to accelerate access to private and public capital for domestic projects, including the creation of a "dedicated mineral and mineral production fund for domestic investments" under the Development Finance Corporation ("DFC").
This decisive action by the US Government highlights the urgent need to expand domestic minerals output to support supply chain security in the United States. This important Order will help revitalize domestic mineral production by improving the permitting process and providing financial support to qualifying domestic projects.
Importance of Antimony
Antimony is considered a “Critical Mineral” by the United States based on the U.S. Geological Survey’s 2022 list (U.S.G.S. (2022)). “Critical Minerals” are metals and non-metals essential to the economy and national security. Antimony is utilized in all manners of military applications, including the manufacturing of armor piercing bullets, night vision goggles, infrared sensors, precision optics, laser sighting, explosive formulations, hardened lead for bullets and shrapnel, ammunition primers, tracer ammunition, nuclear weapons and production, tritium production, flares, military clothing, and communication equipment. Other uses include technology (semi-conductors, circuit boards, electric switches, fluorescent lighting, high quality clear glass and lithium-ion batteries) and clean-energy storage.
Globally, approximately 90% of the world’s current antimony supply is produced by China, Russia, and Tajikistan. Beginning on September 15, 2024, China, which is responsible for nearly half of all global mined antimony output and dominates global refinement and processing, announced that it will restrict antimony exports. In December-2024, China explicitly restricted antimony exports to the United States citing its dual military and civilian uses, which further exacerbated global supply chain concerns. (Lv, A. and Munroe, T. (2024)) The U.S. Department of Defense (“DOD”) has designated antimony as a “Critical Mineral” due to its importance in national security, and governments are now prioritizing domestic production to mitigate supply chain disruptions. Projects exploring antimony sources in North America play a key role in addressing these challenges.
Perpetua Resources Corp. (“Perpetua”) has the most advanced domestic gold-antimony project in the United States. Perpetua’s project, known as Stibnite, is located in Idaho approximately 130 km northeast of NevGold’s Nutmeg Mountain and Zeus projects. Positive advancements at Stibnite including the technical development and permitting has led to US$75 million in Department of Defense (“DOD”) awards, and over $1.8 billion in indicative financing from the Export Import Bank of the United States (“US EXIM”) (see Perpetua Resources News Release from April 8, 2024) (Perpetua Resources. (2025))
ON BEHALF OF THE BOARD
“Signed”
Brandon Bonifacio, President & CEO
For further information, please contact Brandon Bonifacio at bbonifacio@nev-gold.com, call 604-337-4997, or visit our website at www.nev-gold.com.
Historical Data Validation
NevGold QA/QC protocols are followed on the Project and include insertion of duplicate, blank and standard samples in all drill holes. A 30g gold fire assay and multi-elemental analysis ICP-OES method was completed by ISO 17025 certified American Assay Labs, Reno.
The Company’s Qualified Person (“QP”), Greg French, Vice President, Exploration has completed a review of the historical data in this press release. The historic data collection chain of custody procedures and analytical results by previous operators appear adequate and were completed to industry standard practices. For the Newmont and US Gold data a 30g gold fire assay and multi-elemental analysis ICP-OES method MS-41 was completed by ISO 17025 certified ALS Chemex, Reno or Elko Nevada.
Geochemical ICP (5g) analysis for the Wilson, Christianson and Tingey report was completed by Geochemical Services Inc. and the XRF analyses (glass disk or pellets) by Brigham Young University.
Technical information contained in this news release has been reviewed and approved by Greg French, CPG, the Company’s Vice President, Exploration, who is NevGold’s Qualified Person under National Instrument 43-101 and responsible for technical matters of this release.
About the Company
NevGold is an exploration and development company targeting large-scale mineral systems in the proven districts of Nevada and Idaho. NevGold owns a 100% interest in the Limousine Butte and Cedar Wash gold projects in Nevada, and the Nutmeg Mountain gold project and Zeus copper project in Idaho.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Forward-looking statements include, but are not limited to, the proposed work programs at Limousine Butte, and the exploration potential at Limousine Butte. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such risks include, but are not limited to, general economic, market and business conditions, and the ability to obtain all necessary regulatory approvals. There is some risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct or that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.