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Nevgold Corp. (" NevGold " or the " Company ") ( TSXV:NAU,OTC:NAUFF) (OTCQB:NAUFF) (Frankfurt:5E50 ) is pleased to announce the commencement of the 2025 drill program at the oxide gold-antimony ("Antimony", "Sb") Limousine Butte Project (the "Project", "Limo Butte") in Nevada. The Company continues to advance 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
- Drilling Commenced in August: the company started a 5,000 meter Reverse Circulation ("RC") drill program focused on the Resurrection Ridge and Cadillac Valley Target Areas. The initial phase of the program will start at Resurrection Ridge. (Figure 1, Figure 4, Figure 5)
- Path to Initial Oxide Gold-Antimony Mineral Resource Estimate ("MRE"): the objective of the drill program is to advance Limo Butte to an initial oxide gold-antimony MRE. Due to the large historical drillhole database, the 2025 program will include both delineation and expansion drillholes focused on both gold and antimony. This is the first drill program at the Project that has been focused on both gold and antimony.
- New Stibiconite (Antimony Oxide Mineral) Outcrops: as part of the road and drill pad construction, additional stibiconite outcrops were exposed. The eastern side of Resurrection Ridge has strong geological potential with mineralization open to the East. (Figure 2, Figure 3)
- First Drill Program Under Advanced Plan of Operations ("PoO") Permit: this is the first drill program at the Project under the approved PoO permit. ( see NevGold News Release from November 27, 2024 ) The expanded area of the PoO now covers other untested targets on the property, providing significant mineralization expansion potential.
NevGold CEO, Brandon Bonifacio, comments: "We are excited to commence our 2025 drill program at Limo Butte with the objective of advancing the Project to an initial oxide gold-antimony Mineral Resource Estimate ("MRE") . Over recent years our technical team has gained a strong understanding of the regional and project geology. We have a well defined program with the goal of significantly expanding the mineralization footprints at our two most advanced target areas, Resurrection Ridge and Cadillac Valley. Compared to most of the other gold-antimony or antimony projects in the United States, we have the ability to rapidly advance project development with our strong institutional knowledge of the Project. We have completed significant upfront work on the large geological database and permitting. Our focus remains on unlocking the gold-antimony potential at Limo Butte as there is a strong macroeconomic environment and clear commitment from the United States to advance high-quality, domestic, mineral projects."
Figure 1 – RC drill rig drilling the Resurrection Ridge Target Area looking northeast. To view image please click here
Figure 2 – visible stibiconite (oxide antimony mineral) from drillpad construction. To view image please click here
Figure 3 – visible stibiconite (antimony oxide mineral) from drillpad construction. To view image please click here
Figure 4 – Resurrection Ridge target area with selected gold-antimony drillhole results and identified target areas for 2025 step-out and expansion drilling. To view image please click here
Figure 5 – Limousine Butte Land Holdings and District Exploration Activity To view image please click here
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.
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.
