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Kalgoorlie Gold Mining
Investor Insight
Kalgoorlie Gold Mining offers investors a compelling proposition through its strategic focus on low-cost gold exploration in Western Australia's prolific Eastern Goldfields, highlighted by its Lighthorse high-grade gold discovery at the Pinjin project.
Overview
Kalgoorlie Gold Mining (ASX:KAL) is a technically driven explorer targeting multi-million-ounce gold systems in the Eastern Goldfields of Western Australia. Through rigorous geophysical interpretation, structural targeting, and systematic drilling, the company is applying modern techniques to historically overlooked terranes. Its focus is on discovering concealed gold deposits beneath shallow cover by leveraging a proven methodology that includes geophysical analysis, geochemistry, aircore reconnaissance and RC follow-up drilling.
At the heart of this strategy is the flagship Pinjin project, located along the underexplored southern extension of the Laverton Tectonic Zone, a prolific gold-bearing structure responsible for over 30 Moz of historical production from mines such as Sunrise Dam, Granny Smith and Wallaby. Positioned just 20 km north of Ramelius Resources’ Rebecca gold project, Pinjin is ideally situated in a district that has seen limited modern exploration. Kalgoorlie Gold has already delivered a maiden JORC 2012 inferred resource of 76,400 oz (2.34 Mt @ 1.0 g/t gold) at the Kirgella Gift and Providence prospects. These results confirm the presence of shallow mineralization and validate the company’s targeting model. Numerous structural targets have been identified throughout the project area, the majority of which remain untested.
Within Pinjin, the Light Horse Discovery is the company's highest-impact target, where RC drilling has confirmed thick, high-grade mineralization in altered mafic volcanics. The discovery validates Kalgoorlie Gold’s undercover targeting model and is being advanced toward a maiden resource.
Complementing this is the Bulong Taurus project, 35 km east of Kalgoorlie, which hosts the La Mascotte deposit with a JORC inferred resource of 138,000 oz gold (3.61 Mt @ 1.19 g/t). The project includes historic workings and satellite prospects within a structurally favorable corridor. While a secondary focus, heritage approvals are underway to enable follow-up drilling and assess near-term development potential.
To date, Kalgoorlie Gold has tested only around 10 percent of its known targets but has already encountered mineralization in roughly half of them – an exceptional hit rate that underscores the strength of its approach. As the company ramps up its exploration programs, it is positioning itself as one of the most compelling early-stage gold discovery stories in the Australian market.
Company Highlights
- District-scale Positioning: Kalgoorlie Gold controls an expansive, underexplored land package in the Laverton Tectonic Zone, south of major operations like Sunrise Dam and Wallaby and just 20 km north of the planned Rebecca gold mine.
- Lighthorse Discovery: Thick, high-grade gold intercepts under shallow cover confirm a significant greenfields discovery, with potential for resource definition and scale.
- JORC Resource Established at Pinjin: An initial 76,400 oz gold resource at Kirgella Gift and Providence validates the company’s targeting strategy.
- Systematic Exploration Success: >10 targets tested, ~50 percent hit rate with anomalous high-grade gold. Over 90 percent of the company’s target inventory remains untested.
- Experienced Leadership: Matt Painter, managing director, brings deep structural geology expertise and a strong history of generating successful exploration targets globally.
- Favorable Market Tailwinds: With gold trading near all-time highs, Kalgoorlie Gold offers leveraged upside through discovery-driven valuation re-rates.
Key Projects
Pinjin Project
The Pinjin project covers more than 350 sq km and is situated within the southern extension of the Laverton Tectonic Zone, a crustal-scale shear corridor accounting for >30 Moz of historical production. Despite its proximity to major mines, this southern area has seen minimal modern exploration.
Kalgoorlie Gold’s initial focus has been the Kirgella Gift and Providence prospects, where the company defined a JORC 2012 inferred resource of 2.34 Mt @ 1.0 g/t Au for 76,400oz. This estimate was derived from near-surface RC drilling down to ~100 metres, with mineralization remaining open at depth and along strike.
The company has also acquired geophysical datasets and conducted interpretation work to identify additional structural corridors and dilation zones likely to host mineralization. These were validated by soil sampling, structural mapping and aircore drilling. Work completed to date includes more than 16,000 metres of drilling, extensive geological mapping, and data reinterpretation, while upcoming plans involve deeper drilling, geophysics to enhance target definition, and continued aircore programs to expand the exploration footprint.
Lighthorse Discovery
The Lighthorse prospect, situated within the greater Pinjin project area, represents Kalgoorlie Gold’s most promising greenfields discovery to date. Discovered beneath shallow cover using the company's rigorous targeting methodology, Light Horse has yielded multiple thick, high-grade intercepts, confirming the presence of a significant mineralized system. RC drilling has returned standout results such as 2.2 g/t gold over 23 metres, 3.1 g/t gold over 14 metres, and 6.5 g/t gold over 7 metres. These intercepts occur in altered mafic volcanics and are interpreted to represent a robust gold system with potential for lateral and vertical continuity. The discovery validates Kalgoorlie Gold’s structural targeting model and supports the thesis that the region may host not just a single deposit, but a larger gold field. Currently, Lighthorse is the highest-priority drill target in the company’s pipeline. Near-term plans include further RC step-out and infill drilling to define mineralized zones, downhole geophysics to guide targeting of high-grade shoots, and eventual metallurgical sampling. A maiden resource is anticipated following the next phase of drilling, with the potential to rapidly advance toward scoping studies in 2026.
Bulong Taurus Project
Located just 35 kilometres east of Kalgoorlie-Boulder, the Bulong Taurus project offers near-term optionality and brownfields upside. The project hosts the La Mascotte deposit, which contains a JORC 2012 inferred mineral resource of 138,000 oz at 1.19 g/t gold. This outcropping resource is located within the historical Taurus Goldfield and is surrounded by a suite of satellite targets, historical workings and underexplored geophysical anomalies. The geology is characterized by a mix of felsic and mafic volcaniclastic units, cut by northeast-trending structures favorable for gold deposition. Kalgoorlie Gold has undertaken mapping, sampling and historical data reprocessing to refine targeting, and is currently working with Traditional Owners to secure heritage clearances for further exploration. Planned future activities at Bulong Taurus include RC drilling to test extensions of La Mascotte, soil and geophysical surveys across adjacent prospects, and evaluation of development or joint venture options depending on resource scale and continuity. While not the company’s primary focus, Bulong Taurus offers strategic exposure to additional ounces near existing infrastructure.
Management Team
Dr. Matt Painter – Managing Director & Chief Executive Officer
Dr. Matt Painter is a geologist with over 25 years of experience in mineral exploration and project development. He holds a BSc (Hons) and a PhD in geology. Before joining Kalgoorlie Gold Mining, Painter served as general manager of exploration at Ardea Resources Limited, where he played a pivotal role in advancing the company's gold and nickel projects. His expertise lies in structural geology and the discovery of concealed mineral systems, which is instrumental in driving Kalgoorlie Gold Mining's exploration strategy.
Graeme Smith – Chief Financial Officer & Company Secretary
Graeme Smith brings more than 30 years of financial and corporate governance experience to Kalgoorlie Gold Mining. He holds a Bachelor of Economics and is a Fellow of the Chartered Institute of Secretaries, a Fellow of CPA Australia, and a Fellow of the Chartered Secretaries Australia. Smith has held senior financial roles across various ASX-listed companies, providing strategic financial oversight and ensuring compliance with corporate regulations.
Pauline Gately – Non-executive Chair
Pauline Gately is an accomplished non-executive director with over a decade of board experience across the mining, financial technology and consumer goods sectors. Her board contributions are underpinned by 20 years in investment banking, encompassing senior roles in investment strategy, economics and funds management. Gately is a graduate and member of the Australian Institute of Company Directors and holds a BA (Hons) in Economics and a Graduate Diploma in Accounting. She also serves as a non-executive director of Ardiden Limited.
Andrew Penkethman – Non-executive Director
Andrew Penkethman is a geologist with more than 25 years of technical and corporate experience in the resources sector. He has worked across exploration, feasibility studies, and operations within Australia and internationally. Penkethman is currently the managing director and CEO of Ardea Resources, bringing valuable insights into project development and strategic planning to the board of Kalgoorlie Gold Mining.
Scott Herrmann – Exploration Manager
Scott Herrmann oversees Kalgoorlie Gold’s exploration programs across its project portfolio. With a strong background in geology and mineral exploration, Herrmann plays a critical role in target generation and drill program execution, contributing to the company's discovery success.
Unlocking gold deposits hidden under shallow cover in the heart of Western Australia’s Eastern Goldfields
Harvest Gold Identifies 15 Primary And 10 Secondary Targets For Its Diamond Drill Program At Its Mosseau Project In Quebec
The planned 5,000 metre diamond drill program will focus on testing near-surface gold targets in two key areas of the property, the northern and central areas. (Figure 2, Figure 3, Figure 4). Both of these areas host similar geological, geophysical and structural features:
The more known northern area hosts numerous gold showings that remain open along strike and at depth.
The central area, and particularly the Kiask River Mineralized Corridor, has seen very limited historical exploration and was the focus of Harvest’s 2024 field work.
The drill targets have been developed through a detailed review and integration of:
- Historical showings
- Previous exploration work, including Induced Polarization and geological mapping surveys
- High-resolution airborne magnetic surveys
- Prospecting and reconnaissance mapping
- Soil sampling program
These exploration efforts have highlighted fifteen high-priority targets that can host significant gold mineralization. The planned drill program will also be the first systematic testing of the central area of Mosseau and is the beginning of unlocking the mineral potential of the Mosseau Project.
Permits Secured from Quebec Government
Harvest Gold is pleased to report that it has received the required Authorization to Initiate (ATI) permits from the Quebec Government, allowing the Company to proceed with its upcoming drill program. The ATI permits cover the planned drill sites and associated activities for the next two years, ensuring the program is compliant with all regulatory requirements.
Drill Contract Awarded to Forage Rouillier
The Company is also pleased to announce that it has awarded the drill contract for the upcoming program to Forage Rouillier Drilling, based in Amos, Quebec. Forage Rouillier is a highly regarded, locally-based contractor with extensive experience drilling in the Abitibi region. Harvest Gold looks forward to working with Forage Rouillier to execute the program safely and efficiently.
About Harvest Gold Corporation
Harvest Gold is focused on exploring for near surface gold deposits and copper-gold porphyry deposits in politically stable mining jurisdictions. Harvest Gold’s board of directors, management team and technical advisors have collective geological and financing experience exceeding 400 years.
Harvest Gold has three active gold projects focused in the Urban Barry area, totalling 377 claims covering 20,016.87 ha, located approximately 45-70 km west of Gold Fields - Windfall Deposit (Figure 1).
Harvest Gold acknowledges that the Mosseau Gold Project straddles the Eeyou Istchee-James Bay and Abitibi territories. Harvest Gold is committed to developing positive and mutually beneficial relationships based on respect and transparency with local Indigenous communities.
Harvest Gold’s three properties, Mosseau, Urban-Barry and LaBelle, together cover over 50 km of favorable strike along mineralized shear zones.
Figure 1: Project Location: Urban-Barry Greenstone Belt
Figure 2: Drill targets in the northern part of the Mosseau property (Geology)
Figure 3: Drill targets in the central part of the Mosseau property (Geology)
Figure 4: Drill targets in the central part of the Mosseau property (Magnetics)
Qualified Person Statement
All scientific and technical information in this news release has been prepared and approved by Louis Martin, P.Geo., Technical Advisor to the Company and considered a Qualified Person for the purposes of NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark
President and CEO
Harvest Gold Corporation
For more information please contact:
Rick Mark or Jan Urata
@ 604.737.2303 or info@harvestgoldcorp.com
Neither 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.
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that Harvest Gold expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
NevGold Extends Oxide Gold-Antimony Mineralization Over 1.7 Kilometers at Cadillac Valley Target: 2.28 g/t AuEq Over 30.5 Meters (1.29 g/t Au And 0.22% Antimony) Within 1.61 g/t AuEq Over 61.0 Meters (1.08 g/t Au And 0.12% Antimony)
NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce additional oxide gold-antimony (“Antimony”, “Sb”) results extending mineralization over 1.7 kilometers at the Cadillac Valley target 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
- Expands oxide gold-antimony mineralization at Cadillac Valley over 1.7 kilometers with results including
- LB119: 2.28 g/t AuEq* over 30.5 meters (1.29 g/t Au and 0.22% Sb), within 1.61 g/t AuEq* over 61.0 meters (1.08 g/t Au and 0.12% Sb)
- LB155: 1.01 g/t AuEq* over 36.6 meters (0.47 g/t Au and 0.12% Sb), within 0.77 g/t AuEq* over 59.5 meters (0.40 g/t Au and 0.08% Sb)
- LB141: 1.03 g/t AuEq* over 12.2 meters (0.57 g/t Au and 0.10% Sb), within 0.55 g/t AuEq* over 77.7 meters (0.41 g/t Au and 0.03% Sb)
- LIM-18: 0.86 g/t AuEq* over 22.9 meters (0.65 g/t Au and 0.05% Sb), within 0.38 g/t AuEq* over 74.7 meters (0.25 g/t Au and 0.03% Sb) in hole at the most northeast part of the Cadillac Valley target (Figure 1)
- *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.
- Mineralization at Cadillac Valley now expands over 1.7 kilometers northeast to southwest, and over 400 meters laterally (Figure 1, Figure 2)
- Over 27 oxide gold-antimony holes have been released highlighting the consistent results across the two key advanced target areas at Limo Butte; 19 holes at Resurrection Ridge and 8 holes at Cadillac Valley (Figure 3)
- Metallurgical testwork program continues with over 100 kg bulk sample from the Project and NevGold core drilling; positive progress has been made and results are expected over the coming weeks
Limo Butte Planned 2025 Activities / Status Update
NevGold will continue its active exploration program at Limo Butte including:
- Evaluate the historical geological database with focus on gold and antimony (completed);
- Evaluate and re-analyze historical drilling with focus on gold and antimony (in progress, continues);
- Metallurgical testwork (in progress, results over coming weeks);
- 2025 drilling of gold-antimony targets (in planning phase).
Figure 1 – Limousine Butte Gold-Antimony Project with selected gold-antimony drillhole results from the Cadillac Valley Target. To view image please click here
Figure 2 – Limousine Butte Gold-Antimony Project long-section at Cadillac Valley, 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
Figure 3 – Limousine Butte Gold-Antimony Project with selected gold-antimony drillhole results at Resurrection Ridge and Cadillac Valley. The total strike length between Resurrection Ridge and Cadillac Valley is +5km.
To view image please click here
NevGold CEO, Brandon Bonifacio, comments: “The recent set of oxide gold-antimony results from Cadillac Valley significantly increases the size of the mineralization footprint at the target, which now extends over 1.7 kilometers northeast to southwest, and over 400 meters laterally. It is extremely encouraging to see the consistent hole thickness and oxide gold-antimony grades at both of our advanced target areas. We are focused on advancing both Resurrection Ridge and Cadillac Valley to the Mineral Resource Estimate (“MRE”) stage in 2025. We have also progressed our gold and antimony metallurgical testwork program, which is advancing with Kappes, Cassiday, and Associates (“KCA”) of Reno, Nevada, and we are expecting results over the coming weeks. We strongly believe we have one of the most advanced gold-antimony assets in the United States, and we will continue to focus on unlocking the value at the Project over 2025.”
Historical and Re-Assayed Drill Results
| Hole ID | Length, m* | g/t Au | % Sb | g/t AuEq** | From, m | To, m |
| Cadillac Valley | ||||||
| LB119 | 61.0 | 1.08 | 0.12% | 1.61 | 146.3 | 207.3 |
| including | 30.5 | 1.29 | 0.22% | 2.28 | 152.4 | 182.9 |
| LB155 | 59.5 | 0.40 | 0.08% | 0.77 | 97.5 | 157.0 |
| including | 36.6 | 0.47 | 0.12% | 1.01 | 97.5 | 134.1 |
| LB141 | 77.7 | 0.41 | 0.03% | 0.55 | 61.0 | 138.7 |
| including | 12.2 | 0.57 | 0.10% | 1.03 | 61.0 | 73.2 |
| LIM-18 | 74.7 | 0.25 | 0.03% | 0.38 | 129.5 | 204.2 |
| including | 22.9 | 0.65 | 0.05% | 0.86 | 129.5 | 152.4 |
| 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 |
*Downhole thickness reported; true width varies depending on drill hole dip and is ~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 Release on April 10, 2025.
Limo Butte Geology & Antimony Summary
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.
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 than 5% antimony, including a sample of 9.6% antimony with visible stibnite and stibiconite. BYU Thesis Report
Figure 4 – 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
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”, NASDAQ:PPTA, TSX:PPTA) 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))
Drillhole Orientation Details
| Hole ID | Target Zone | Easting | Northing | Elevation (m) | Length (m) | Azimuth | Dip |
| LB119 | CV | 665171 | 4415453 | 2026 | 269.7 | 130 | -75 |
| LB155 | CV | 664635 | 4414684 | 2058 | 304.8 | 0 | -90 |
| LB-141 | CV | 664995 | 4415167 | 2020 | 163.1 | 120 | -70 |
| LIM-18 | CV | 665421 | 4415694 | 2034 | 219.5 | 0 | -90 |
| LB22-007 | CV | 665211 | 4415453 | 2031 | 403.5 | 254 | -86 |
| LB22-006 | CV | 664692 | 4414921 | 2042 | 379.8 | 144 | -77 |
| LB22-019 | CV | 664433 | 4414318 | 2096 | 335.3 | 116 | -66 |
| LB054 | CV | 665323 | 4415090 | 2059 | 157.0 | 0 | -90 |
Figure 5 – Limousine Butte Land Holdings and District Exploration Activity To view image please click here
Grant of Options
The Company also announces that it has granted an aggregate of 2,600,000 stock options of the Company (each, a “Stock Option”) to certain directors, officers and consultants of the Company. Each Stock Option entitles the holder to acquire one common share of the Company at an exercise price of $0.33 per share at varying expiry dates between June 12, 2027 and June 12, 2030. The Stock Options were issued pursuant to the terms of the Company’s stock option plan. The Stock Options granted to directors, officers, and consultants of the Company vest immediately, and the Stock Options granted to investor relations service providers vest in the amount of 25% every three months following the date of grant over a 12-month period.
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.
Drilling continues to return significant high-grade mineralisation
Highlights:
- Deep diamond drilling successfully returns high-grade gold mineralisation under the MRE pit shell, including:
- 26m at 7.90 g/t Au from 444.0m, including 13.3m at 13.39 g/t Au in KDD055
- 10.5m at 16.72 g/t Au from 427.5m, including 2.0m at 84.68 g/t Au in KDD059
- Shallow Reverse circulation (RC) drilling at Central Zone near KRC3312 positively extends this high-grade shoot with significant intercepts, including:
- 16m at 2.96 g/t Au from 198m, including 6m at 6.18 g/t Au in KRC389
- 28m at 3.44 g/t Au from 192m, including 8m at 8.40 g/t Au in KRC396
- Infill drilling for shallow resource conversion at NW and Northern Zones confirm the strong continuity in gold mineralisation, including the following intercepts:
- 21m at 1.50 g/t Au from 82.9m in KDD062
- 23m at 1.69 g/t Au from 208.0m in KDD063
- 45m at 1.13 g/t Au from 66m in KRC371
- 28m at 1.06 g/t Au from 127m in KRC373
- 20m at 1.13 g/t Au from 51m in KRC375
- None of the drilling results of the high-grade zone beneath the pit shell, the high-grade shoot (both in the Central Zone), or infill drilling at NW or Northern Zones, are included in the current Mineral Resource Estimate (MRE) – an updated MRE is expected in the coming weeks
- Drilling continues with one RC rig and three DD rigs at Kokoseb
Commenting on the results, Wia Executive Chairman, Josef El-Raghy, said:
“Kokoseb continues to show consistency in gold mineralisation at depth and along strike, with some excellent results from within and outside of the current pit shell outline. The accelerated drilling programme, with three DD rigs targeting the high-grade shoots at depth, and one RC rig focussing on infill drilling to improve our understanding of the current 2.12m oz Au resource, is bearing fruit with results to be included in the updated MRE due in the next few weeks.”
Figure 1 – Drill hole locations, focused at the northern area of Kokoseb, location of the cross sections of this announcement, and significant intercepts on drill holes reported in this announcement3 (DD drillholes purple background, RC drillholes white background)
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