Tempus Resources Ltd (" Tempus " or the " Company ") (ASX:TMR)(TSXV:TMRR)(OTCQB:TMRFF) is pleased to announce further assay results from drill-holes from its Elizabeth Gold Project in British Columbia, Canada. Drill holes being reported in this release are EZ-21-15, EZ-21-16, EZ-21-17, EZ-21-18, and EZ-21-19. The drill holes targeted the SW Vein at a vertical depth below 200 metres and the Blue Vein (EZ-21-19
HIGHLIGHTS
Tempus President and CEO, Jason Bahnsen commented "The assay results for drill hole EZ-21-19 show continued high-grade gold mineralisation down dip of the previously reported ‘bonanza' grade intersection at the newly discovered Blue Vein. Assays have now been received for three out of the seven drill holes that have intersected the Blue Vein. With the historic resource at Elizabeth largely centred on the SW Vein, the Blue Vein holds significant potential for expanding the current resource base for the project."
Blue Vein Results
Tempus discovered the new Blue Vein with drill hole EZ-21-12 with an intersection of visible gold in the drill core, as announced on 27 September 2021. The Blue Vein is located approximately 150 metres to the northwest, and parallel, to the SW Vein (See Figure 1). This previously unknown vein has now been intersected by 7 drill-holes (EZ-21-09, EZ-21-12, EZ-21-19, EZ-21-24, EZ-21-25, EZ-21-26, EZ-21-27) demonstrating an initial strike length of 380 metres (see Figure 2), with four of those drill-holes pending assay results.
Drill hole EZ-21-12 (see announcement 26 October 2021) included high-grade gold intersections with assays of including 33.7g/t gold over 1.0 metre from 117.8 metres, 26.4g/t gold over 0.5m from 130.7 metres, and 8.4g/t gold over 0.5m from 163.9 metres. EZ-21-19 was drilled at a steeper angle than EZ-21-12 and demonstrates continuity of the Blue Vein down dip .
Results from EZ-21-24 to EZ-21-27, which specifically target the Blue Vein, were all successful in intersecting the quartz vein and are currently in the lab with assays pending. See Table 1 below for Blue Vein drill results received to date.
Table 1 - Elizabeth Gold Project Blue Vein Drill Intersections
Hole ID | From (m) | To (m) | Interval (m) | True Thickness (m) | Gold Grade (g/t Au) | MET Screen Grade (g/t Au) |
EZ-21-09 | 58.60 | 59.10 | 0.50 | 0.43 | 0.31 | Not Performed |
EZ-21-12 | 117.80 | 118.80 | 1.00 | 0.85 | 47.6 | 33.7 |
and | 130.70 | 131.20 | 0.50 | 0.43 | 26.4 | Not Performed |
and | 163.90 | 164.40 | 0.50 | 0.43 | 5.50 | 8.41 |
EZ-21-19 | 127.50 | 128.00 | 0.50 | 0.43 | 4.52 | Not Performed |
and | 129.00 | 130.50 | 1.50 | 1.28 | 4.25 | Not Performed |
and | 167.80 | 168.70 | 0.90 | 0.76 | 4.50 | 6.14 |
EZ-21-24 | pending | |||||
EZ-21-25 | pending | |||||
EZ-21-26 | pending | |||||
EZ-21-27 | pending | |||||
*true thickness is estimated using a multiplier of 0.85.
SW Vein Results
Each of drill holes being reported today have successfully intersected the SW Vein and continue to indicate significant mineralisation and anomalous gold values. Mineralised intervals are consistent with mesothermal/orogenic gold veins and contain highly elevated values in arsenic, antimony, silver, and mercury. Drill holes EZ-21-15, EZ-21-16, EZ-21-17, EZ-21-18, and EZ-21-19 targeted the southern portion of the SW Vein at depths below 200m vertical. See Appendix 1 Table 1 for detailed results.
Tempus has now completed exploration drilling at Elizabeth for 2021. A total of 28 drill holes have been completed at Elizabeth for approximately 7,740 metres. Combined with the 11 drill holes completed in 2020, Tempus has now completed 39 drillholes for a total of approximately 9,750 metres at Elizabeth since Tempus began drilling in November 2020. Drill collar information can be seen in Appendix 1, Table 1. There are currently 9 drill holes pending assay results.
The underground development permit for the Elizabeth Lower Portal exploration drift is still pending (see announcement 13 September 2021).
Figure 1 - The Elizabeth Project - Plan map of drilling
Figure 2 - Elizabeth Project - Long-section of the Blue Vein
Competent Persons Statement
Information in this report relating to Exploration Results is based on information reviewed by Mr. Kevin Piepgrass, who is a Member of the Association of Professional Engineers and Geoscientists of the province of BC (APEGBC), which is a recognised Professional Organisation (RPO), and an employee of Tempus Resources. Mr. Piepgrass has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves, and as a Qualified Person for the purposes of NI43-101. Mr. Piepgrass consents to the inclusion of the data in the form and context in which it appears.
For further information:
Tempus Resources LTD
Melanie Ross - Director/Company Secretary Phone: +61 8 6188 8181
About Tempus Resources Ltd
Tempus Resources Ltd ("Tempus") is a growth orientated gold exploration company listed on ASX ("TMR") and TSX.V ("TMRR") and OTCQB ("TMRFF") stock exchanges. Tempus is actively exploring projects located in Canada and Ecuador. The flagship project for Tempus is the Elizabeth-Blackdome Project, a high-grade gold past producing project located in Southern British Columbia. Tempus is currently midway through a drill program at Elizabeth-Blackdome that will form the basis of an updated NI43-101/JORC resource estimate. The second key group of projects for Tempus are the Rio Zarza and Valle del Tigre projects located in south east Ecuador. The Rio Zarza project is located adjacent to Lundin Gold's Fruta del Norte project. The Valle del Tigre project is currently subject to a sampling program to develop anomalies identified through geophysical work.
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Tempus's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but are not limited to, the ability of Tempus to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Tempus to control or predict, that may cause Tempus' actual results, performance or achievements to be materially different from those expressed or implied thereby, and and are developed based on assumptions about such risks, uncertainties and other factors set out herein and the other risks and uncertainties disclosed on Page 27 under the heading "Risk and Uncertainties" in the Company's Management's Discussion & Analysis for the quarter ended September 30, 2021 dated November 15, 2021 filed on SEDAR. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Tempus believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Tempus does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Tempus or persons acting on its behalf are expressly qualified in its entirety by this notice. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Appendix 1
Table 1:Drill Hole Collar Table
UTM | UTM | ||||||
| Hole ID | Target | Easting (NAD83 | Northing (NAD83 | Elevation (m) | Length (m) | Azimuth | Dip |
Z10) | Z10) | ||||||
| EZ-21-01 | SW Vein | 531203 | 5653771 | 2400 | 105 | 121 | -52 |
| EZ-21-02 | SW Vein | 531203 | 5653771 | 2400 | 132 | 146 | -55 |
| EZ-21-03 | SW Vein | 531203 | 5653771 | 2400 | 111 | 158 | -47 |
| EZ-21-04 | SW Vein | 531203 | 5653771 | 2400 | 135 | 168 | -58 |
| EZ-21-05 | SW Vein | 531078 | 5653776 | 2400 | 561 | 123 | -48 |
| EZ-21-06 | SW Vein | 531078 | 5653776 | 2400 | 255 | 110 | -55 |
| EZ-21-07 | SW Vein | 531203 | 5653771 | 2400 | 126 | 115 | -75 |
| EZ-21-07b | SW Vein | 531203 | 5653771 | 2400 | 186 | 115 | -75 |
| EZ-21-08 | SW Vein | 531195 | 5653839 | 2427 | 231 | 115 | -68 |
| EZ-21-09 | SW Vein | 531200 | 5654020 | 2330 | 360 | 120 | -48 |
| EZ-21-10 | SW Vein | 530953 | 5653772 | 2390 | 354 | 127 | -50 |
| EZ-21-11 | SW Vein | 530953 | 5653772 | 2390 | 381 | 136 | -50 |
| EZ-21-12 | SW Vein | 530953 | 5653772 | 2390 | 375 | 125 | -45 |
| EZ-21-13 | SW Vein | 530919 | 5653596 | 2300 | 261 | 94 | -45 |
| EZ-21-14 | SW Vein | 530919 | 5653596 | 2300 | 261 | 108 | -55 |
| EZ-21-15 | SW Vein | 530919 | 5653596 | 2300 | 330 | 100 | -55 |
| EZ-21-16 | SW Vein | 530919 | 5653596 | 2300 | 330 | 83 | -48.5 |
| EZ-21-17 | SW Vein | 530919 | 5653596 | 2300 | 414 | 98 | -63 |
| EZ-21-18 | SW Vein | 530919 | 5653596 | 2300 | 351 | 128.5 | -63 |
| EZ-21-19 | SW Vein | 530953 | 5653772 | 2390 | 417 | 129 | -58 |
| EZ-21-20 | SW Vein | 530849 | 5653432 | 2260 | 300 | 129 | -45 |
| EZ-21-21 | East Veins | 531695 | 5653463 | 2120 | 357 | 90 | -45 |
| EZ-21-22 | SW Vein | 531195 | 5653839 | 2427 | 188 | 75 | -45 |
| EZ-21-23 | SW Vein | 531695 | 5653463 | 2120 | 165 | 91 | -45 |
| EZ-21-24 | Blue Vein | 530953 | 5653772 | 2390 | 219 | 84 | -54 |
| EZ-21-25 | Blue Vein | 530953 | 5653772 | 2390 | 201 | 105 | -58 |
| EZ-21-26 | Blue Vein | 530953 | 5653772 | 2390 | 198 | 95 | -45 |
| EZ-21-27 | Blue Vein | 530953 | 5653772 | 2390 | 195 | 150 | -60 |
| EZ-21-28 | No.9 Vein | 530953 | 5653772 | 2390 | 321 | 300 | -55 |
Table 2: Significant Interval Table
Hole ID | From (m) | To (m) | Interval (m) | True Thickness (m) | Gold Grade | MET Screen Grade | Vein |
EZ-21-01 | 94.00 | 96.60 | 2.60 | 2.21 | 4.60 | 5.12 | SW Vein |
and | 83.50 | 84.00 | 0.50 | 0.43 | 20.50 | pending | SW Vein |
EZ-21-02 | 102.40 | 109.00 | 6.60 | 5.61 | 8.40 | pending | SW Vein |
including | 105.40 | 106.50 | 1.10 | 0.93 | 46.30 | pending | SW Vein |
EZ-21-03 | 88.60 | 95.00 | 6.40 | 5.44 | 7.22 | pending | SW Vein |
including | 89.30 | 91.90 | 2.60 | 2.21 | 11.80 | pending | SW Vein |
and | 90.00 | 91.30 | 1.30 | 1.11 | 19.80 | pending | SW Vein |
and | 34.70 | 35.20 | 0.50 | 0.43 | 3.15 | pending | SW Vein |
EZ-21-04 | 122.00 | 126.00 | 4.00 | 3.40 | 31.20 | 34.40 | SW Vein |
including | 123.00 | 124.50 | 1.50 | 1.28 | 52.10 | 68.30 | SW Vein |
including | 124.00 | 124.50 | 0.50 | 0.43 | 72.00 | 87.30 | SW Vein |
EZ-21-05 | 134.00 | 135.00 | 1.00 | 0.85 | 1.38 | not performed | 7 Vein |
217.55 | 218.25 | 0.70 | 0.59 | 1.74 | 1.67 | SW Vein | |
and | 256.00 | 256.50 | 0.50 | 0.43 | 1.03 | 0.89 | SW Vein |
and | 554.85 | 555.35 | 0.50 | 0.43 | 0.24 | not performed | West Vein |
EZ-21-06 | 134.50 | 136.00 | 1.50 | 1.28 | 1.10 | 1.71 | 7 Vein |
and | 245.00 | 246.00 | 1.00 | 0.85 | 2.05 | 2.45 | SW Vein |
EZ-21-07 | Hole lost | ||||||
EZ-21-07B | 40.10 | 41.10 | 1.00 | 0.85 | 4.88 | not performed | 7 Vein |
and | 51.50 | 52.20 | 0.70 | 0.60 | 9.06 | not performed | 7 Vein |
and | 160.00 | 165.75 | 5.75 | 4.89 | 0.53 | 0.70 | SW Vein |
EZ-21-08 | 196.25 | 202.40 | 6.15 | 5.23 | 0.65 | 0.66 | SW Vein |
and | 226.60 | 227.10 | 0.50 | 0.43 | 1.54 | 1.85 | SW Vein |
EZ-21-09 | 58.60 | 59.10 | 0.50 | 0.43 | 0.31 | not performed | Blue Vein |
and | 270.90 | 272.90 | 2.00 | 1.70 | 2.56 | not performed | SW Vein |
and | 355.88 | 357.00 | 1.12 | 0.95 | 0.85 | not performed | SW Vein |
EZ-21-10 | 223.00 | 223.50 | 0.50 | 0.43 | 4.04 | not performed | 7 Vein |
and | 347.70 | 349.20 | 1.50 | 1.28 | 0.22 | 0.21 | SW Vein |
EZ-21-11 | 326.90 | 327.40 | 0.50 | 0.43 | 0.55 | 0.44 | SW Vein |
Hole ID | From (m) | To (m) | Interval (m) | True Thickness (m) | Gold Grade | MET Screen Grade | Vein |
EZ-21-12 | 117.80 | 118.80 | 1.00 | 0.85 | 47.6 | 33.7 | Blue Vein |
and | 130.70 | 131.20 | 0.50 | 0.43 | 26.4 | not performed | Blue Vein |
and | 163.90 | 164.40 | 0.50 | 0.43 | 5.50 | 8.41 | Blue Vein |
and | 344.90 | 347.00 | 2.10 | 1.79 | 0.78 | 1.22 | SW Vein |
EZ-21-13 | 230.70 | 232.60 | 1.90 | 1.62 | 0.76 | 0.71 | SW Vein |
EZ-21-14 | 224.00 | 224.90 | 0.90 | 0.77 | 1.63 | 1.15 | SW Vein |
EZ-21-15 | 318.40 | 320.80 | 2.40 | 2.04 | 0.31 | not performed | SW Vein |
including | 320.30 | 320.80 | 0.50 | 0.43 | 1.14 | not performed | SW Vein |
EZ-21-16 | 305.00 | 306.90 | 1.90 | 1.61 | 0.55 | not performed | SW Vein |
EZ-21-17 | 171.00 | 171.50 | 0.50 | 0.43 | 0.14 | 0.57 | Vein |
and | 204.00 | 204.60 | 0.60 | 0.51 | 0.53 | not performed | vein |
and | 254.60 | 256.85 | 2.25 | 1.91 | 1.40 | 1.58 | 7 Vein |
and | 350.13 | 350.75 | 0.62 | 0.53 | 1.01 | not performed | SW Vein |
and | 379.47 | 382.00 | 2.53 | 2.15 | 0.63 | 0.64 | SW Vein |
EZ-21-18 | 299.50 | 299.90 | 0.40 | 0.34 | 1.53 | not performed | SW Vein |
EZ-21-19 | 127.50 | 128.00 | 0.50 | 0.43 | 4.52 | not performed | Blue Vein |
and | 129.00 | 130.50 | 1.50 | 1.28 | 4.25 | not performed | Blue Vein |
and | 167.80 | 168.70 | 0.90 | 0.76 | 4.50 | 6.14 | Blue Vein |
and | 351.80 | 354.90 | 3.10 | 2.63 | 0.34 | not performed | SW Vein |
*true thickness is estimated using a multiplier of 0.85.
Appendix 2: The following tables are providedto ensure compliance with the JORC Code (2012) requirements for the reporting of Exploration Results for the Elizabeth - Blackdome Gold Project
Section 1: SamplingTechniques and Data
(Criteria in this sectionapply to all succeeding sections.)
Criteria | JORC Code explanation | Commentary |
Sampling techniques |
information. |
|
Drilling techniques |
what method, etc). |
|
Drill sample recovery |
have occurred due to preferential loss/gain of fine/coarse material. |
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Criteria | JORC Code explanation | Commentary | |
Logging |
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Sub- sampling techniques andsample preparation |
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Quality of assay data and laboratory tests |
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Verification ofsampling and assaying |
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| |
Criteria | JORC Code explanation | Commentary | |
Location of datapoints |
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Data spacing anddistribution |
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Orientation of data in relation to geological structure |
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Sample s Security |
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| |
Audits or Reviews |
|
| |
Section 2: Reportingof Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria | JORC Code explanation | Commentary | |
Mineral tenement and land tenurestatus |
|
(refer to ASX announcement 15 December 2020)
| |
Exploration done by other parties |
|
| |
Criteria | JORC Code explanation | Commentary |
Mining operations lasted six months and ended in May of 1999. During this period, 6,547 oz of Au and 17,300 oz of Ag were producedfrom 21,268 tons of ore. Further exploration programs were continued by Claimstaker over the following years and a Japanese joint venture partnerwas brought onboardthat prompted a name changeto J-Pacific Gold Inc. This partnership was terminated by 2010, resulting in another name change to Sona Resources Corp.
| ||
Geology |
|
Blackdome and are correlated with the KamloopsGroup seen in the Ashcroft and Nicola regions. |
Criteria | JORC Code explanation | Commentary |
Geochemical studies (Vivian, 1988)have shown these rocks to be derivedfrom a "calc-alkaline" magma in a volcanicarc type tectonicsetting. Eocene age granitic intrusions at Poison Mountain some 22 kilometres southwest of Blackdome are host to a gold bearing porphyry copper/molybdenum deposit. It is speculated that this or related intrusions could reflect the source magmas of the volcanic rocks seen at Blackdome. There is some documented evidenceof young graniticrocks several kilometres south of the mine near Lone Cabin Creek. The youngest rocks present are Oligocene to Miocene basalts of the Chilcotin Group. These are exposed on the uppermost slopes of Blackdome Mountain and Red Mountain to the south.
brittle faulting believed to be contemporaneous with mid- Eocene extensional faulting along the Marshall Creek,Mission Ridge and Quartz Mountain faults. |
Criteria | JORC Code explanation | Commentary |
Drill hole Information |
of the report, the Competent Person should clearlyexplain why this isthe case. |
|
Data aggregation methods |
|
|
Relationship between mineralisation widths andintercept lengths |
known'). |
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Diagrams |
hole collar locations and appropriate sectional views. |
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Criteria | JORC Code explanation | Commentary |
Balanced reporting |
Results. |
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Other substantive exploration data |
substances. |
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Further work |
information is not commercially sensitive. |
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SOURCE: Tempus Resources Ltd
News Provided by ACCESSWIRE via QuoteMedia
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:
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 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
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 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.
Highlights:
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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