Message from the President
“Receiving our exploration permit for Swan is a big step toward advancing the Atsutla Gold Project. We now have the capability to be more aggressive with our exploration efforts in order to advance the Swan target.” – Daithi Mac Gearailt
Swan Target Description
The Swan target is located in the eastern Atsutla Gold Property area, in northern BC. Swan is a potential gold-silver-copper (Au-Ag-Cu) porphyry system, defined by a 900 m by 700 m Au-Ag-Cu-arsenic (As) – antimony (Sb) – molybdenum (Mo) – lead (Pb) soil geochemical anomaly along a gossanous ridge. The host setting is a leucogranite porphyry intrusion with argillic and phyllic alteration assemblages. Bedrock sampling by Trailbreaker in the centre of the soil anomaly has returned values up to 11.5 g/t Au and 16.8 g/t Ag.
Historic IP surveying around the Swan target took place in the valley west of the soil anomaly. This work focused on a molybdenum anomaly associated with a semi-circular chargeability high. This chargeability feature partially wraps around the soil anomaly, but the survey dimensions do not cover the entire anomaly. Additionally, IP surveying will be valuable in identifying potential chargeability highs, which may indicate high sulphide content and associated alteration zonation. As well, resistivity characteristics may help vector toward felsic intrusive centers and high-density quartz veining which would indicate the potassic core of a porphyry system.
Figure 1: Highlights of the Swan target include the strong Au geochemical anomaly, phyllic and argillic alteration zones, and the partial chargeability high ring feature defined from a historic IP survey.
About the Atsutla Gold Project
The Atsutla Gold project covers over 40,000 hectares of underexplored and prospective ground in northwestern BC. The project covers a portion of the Atsutla mountain range 70 km south of the BC-Yukon border. Placer gold was recorded in the area during the early 1900s, with very little subsequent mineral exploration.
The project is centered over the crustal-scale Teslin-Thibert fault system that marks the division between the Quesnel and Cache Creek terranes. Gold mineralization is associated with Mesozoic intrusive batholiths that are the predominant geological unit on the property. Trailbreaker has discovered five significant zones of gold mineralization across the property. These are:
About Trailbreaker Resources
Trailbreaker Resources is a mining exploration company focused primarily on mining-friendly British Columbia and Yukon Territory, Canada. Trailbreaker is committed to continuous exploration and research, allowing maintenance of a portfolio of quality mineral properties which in turn provides value for shareholders. The company has an experienced management team with a proven track record as explorers and developers throughout the Yukon Territory, British Columbia, Alaska and Nevada.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com.
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.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
A photo accompanying this announcement is available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/c66345bd-85aa-42bb-a466-fe24fe4ce990
Trailbreaker Resources Ltd. (TBK.V) ("Trailbreaker" or "the Company") is pleased to report geochemical results from the 2023 surficial exploration program at their Castle Rock property on northern Vancouver Island, British Columbia (BC).
Highlights from the surficial exploration program include:
Message from the President
"Our grassroots exploration efforts at Castle Rock have continued to build upon a showing with limited previous exploration, and are quickly developing this into a compelling project with multiple targets. Castle Rock is a great testament to our tried-and-true exploration methodology which has proven to add value to our portfolio of early-stage exploration projects. We are excited to continue to advance Castle Rock, along with the rest of our portfolio." – Daithi Mac Gearailt
Figure 1: Soil geochemical anomalies and highlighted rock and moss-mat samples from the 2023 surface sampling program, overlain on interpretation of the regional airborne magnetic survey. Sampling defines a 3 km gold-in-soil trend which includes the Heart zone and newly defined Watchtower and Kokummi zones. Rock sampling has confirmed historic values at the Flan zone and defined an open gold-in-soil anomaly. Additionally, anomalous moss-mat samples in the southeast and eastern portions of the property have defined new areas of potential mineralization, leading to additional claim staking.
Heart, Watchtower, and Kokummi zones (3 km long soil trend)
Rock and soil geochemical sampling and prospecting successfully defined a three-kilometre gold-in-soil trend with multiple >30 ppb gold anomalies, centered on the previously known Heart showing. The Heart showing was discovered in 2012 and consists of a brecciated granodiorite dyke containing 5 to 10% pyrite-chalcopyrite. Historic chip sampling returned assays of 2.0 g/t Au over 30 metres 1 .
During the 2023 surface campaign, rock samples collected from an outcrop 175 m north-northwest of the Heart showing returned assay results up to 2.2 g/t Au. These samples were collected from a strongly oxidized granite, very similar to the main Heart zone showing. Additionally, gossanous basalt containing pyrite was sampled in outcrop 80 m east-northeast of the Heart showing, and returned assay results up to 2.2 g/t Au.
Soil sampling near the Heart showing expanded the continuous gold-in-soil anomaly, defining the Heart zone to approximately 1,150 m in strike length and up to 300 m in width.
A new multi-sample gold-in-soil anomaly, the Watchtower zone, was identified approximately 325 m to the southwest of the Heart showing. No previous sampling had been conducted in the area prior to 2023. The anomaly remains open to the south and west. This may represent an additional mineralization centre near the Heart zone.
A second newly identified gold-in-soil anomaly, the Kokummi zone, was defined to the south-southeast of the Heart zone. This anomaly is on strike of the Heart zone and is defined by gold-in-soil values >30 ppb along multiple soil sampling lines, defining a >600 m strike length.
Flan zone
Historic sampling at the Flan zone returned assays up to 135 g/t Au in boulders 2 . Sampling during 2023 was designed to confirm the presence of mineralization and to define a bedrock source. Gossanous float material sampled at the Flan zone confirmed high-grade gold mineralization, with assays up to 42.1 g/t Au and 1.93% Cu. As well, basalt-hosted semi-massive pyrite-chalcopyrite-pyrrhotite sampled in outcrop returned assays up to 3.1 g/t Au. It is believed that this outcrop-hosted mineralization is associated with the float samples, and that similar mineralization may occur under vegetative and/or till cover. The Flan zone lies at the intersection of two magnetic lineaments. This structural intersection may be an important control of gold mineralization.
The Flan zone occurs on the western extent of the soil geochemical grid. However, another gold-in-soil anomaly was defined from the 2023 sampling approximately 500 m north of the outcrop mineralization at the Flan zone. The anomaly is defined by >30 ppb gold-in-soil, and remains open to the west and north.
Reconnaissance sampling
To assess potential mineralization outside of the primary area covered by soil sampling, moss-mat sampling, targeting additional drainages on the property, was employed. Moss-mat sampling is used as a reconnaissance style sampling method, similar to stream sediment sampling, providing indications of metal content within a drainage and providing a vector for the location of mineralization.
Two areas returned multiple moss-mat samples with greater than 10 ppb gold. The first area is in the southeastern portion of the property, near the postulated contact of the Kokummi stock and the Karmutsen basalts. The second area is within a valley that drains from the eastern flank of Mt. Adam. This valley, which has not undergone any exploration work, is marked by magnetic lineaments, similar to those at the Heart-Kokummi soil trend. Additional claims were staked in this area to cover all drainages potentially causing these elevated moss-mat samples.
Future Work Recommendations
Future work at the Castle Rock property will be focussed toward continuing to define the extent of mineral potential on the property, as well as advancing individual targets toward initial drill testing. This work will include permitting to conduct advanced exploration activities, additional surface geochemical work, and geophysical surveying.
About the Castle Rock property
The Castle Rock property covers 3,108 hectares of land, approximately 70 km northwest of Campbell River, BC on northern Vancouver Island (Figure 1). It was acquired by Trailbreaker in 2022 and was recently consolidated through an option agreement with Cazador Resources Ltd. (see August 8, 2023 news release ). Trailbreaker conducted initial exploration assessment work in 2022 and followed up with a second surface exploration program in 2023 (results are contained in this news release).
The claims cover five BC Minfile occurrences on a district-scale structure that is >5 km-long, with newly identified gold ± copper-enriched intrusions. These Minfile occurrences are relatively new discoveries, mostly due to access created by recent logging activity.
Northern Vancouver Island is host to several large Cu-Au porphyry deposits, including Northisle's Hushamu deposit (Inferred Resource of 5.57 Moz AuEq) 3 , and BHP Billiton's past producing Island Copper porphyry copper deposit (produced >2.7 B lb Cu and >1.0 Moz Au) 3 .
At the Castle Rock property, gold is dominantly hosted in Jurassic granodiorite dykes which have been emplaced along a regional-scale fault zone separating Lower to Middle Triassic Daonella Bed sedimentary rocks from Upper Triassic Karmutsen Formation basalts.
About Trailbreaker Resources
Trailbreaker Resources is a project generator focused primarily on mining-friendly British Columbia and Yukon Territory, Canada. We are committed to continuous exploration and research, allowing us to maintain a portfolio of quality mineral properties which in turn provides value for our shareholders. The company has an experienced management team with a proven track record as project generators and developers throughout the Yukon Territory, British Columbia, Alaska and Nevada.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company's projects, please visit Trailbreaker's website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker's tweets at Twitter.com/TrailbreakerLtd , use the ‘Contact' section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com .
References
1) https://minfile.gov.bc.ca/Summary.aspx?minfilno=092L%20%20399
2) https://minfile.gov.bc.ca/Summary.aspx?minfilno=092L%20%20396
3) https://cmscontent.nrs.gov.bc.ca/geoscience/PublicationCatalogue/InformationCircular/BCGS_IC2014-04.pdf
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.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ae9292a0-501f-4c65-93e1-4c863323130c
News Provided by GlobeNewswire via QuoteMedia
Trailbreaker Resources Ltd. (TBK.V) ("Trailbreaker" or "the Company") is pleased to provide a company update on exploration activities during the 2023 field season, and on our continued efforts to build shareholder value.
2023 was an active year for Trailbreaker, with work conducted across a wide array of our projects. Work included the filing of an NI 43-101 technical report on the Atsutla project, optioning out of a portion of the Eagle Lake property, drill testing on the Eakin Creek project, conducting surface exploration at the Golden Sable and Castle Rock projects, and conducting a site visit at the Sheldon project. As well, the technical team was bolstered by the appointment of a new position of Vice President of Exploration. Work towards permitting of projects in order to conduct drill testing is ongoing. As well, the technical team is actively engaged in conducting project generation to bring new highly prospective properties into the Trailbreaker portfolio. Trailbreaker intends to carry the momentum from this year's activities into 2024, and to continue to build on the 2023 exploration successes.
Message from the President
"Thank you to our base of loyal shareholders who have continued to believe in and support our exploration approach through a tough metals market. We are excited to be advancing numerous projects and are looking forward to an active 2024 exploration season. We are also excited about the ongoing target generation that our technical team has been engaging in, which we feel will continue to add highly prospective projects into our pipeline." – Daithi Mac Gearailt
2023 Exploration Activities
Click the hyperlinks below for more information on each project, news release, or presentation.
Atsutla : Prior to the start of the field season, Trailbreaker filed an NI 43-101 technical report for the Atsutla project, located in northwestern BC (see news release dated May 15, 2023 ). The technical report and accompanied structural geology report with drill recommendations, provide a geological framework and clear exploration methodology to advance the Atsutla project. There is strong potential both for intrusion-hosted auriferous quartz veins in the western portion of the property, where rock samples assayed up to 630 g/t gold (Au); and for porphyry copper-gold (Cu-Au) mineralization at the Swan zone, where rock samples returned up to 11.7 g/t Au.
Eagle Lake : Trailbreaker optioned out a portion of the Eagle Lake project, located in central BC, to Vizsla Copper. These four claims abut Vizsla Copper's Woodjam project (see news release dated June 12, 2023 ). Vizsla Copper has the option to acquire a 100% interest in the four optioned claims by issuing an aggregate of 400,000 common shares to Trailbreaker over three years. Trailbreaker and Teck Resources Ltd. retain a combined 2% net smelter return (NSR) royalty on these claims. Trailbreaker retains the prospective Moffat zone portion of the Eagle Lake project, where historic drill results returned grades up to 3.52 g/t Au over 9.9 m. Also at the Moffat zone, a 2022 MMI (mobile metal ion) soil survey defined an 850 x 700 m gold-copper-silver-molybdenum (Au-Cu-Ag-Mo) anomaly.
Eakin Creek : Trailbreaker's field season began with a successful diamond drill program at the Eakin Creek project, south-central BC (see news release dated September 5, 2023 ). Gold was intersected in all eleven drillholes, highlighted by intervals including: 1.0 m of 14.3 g/t Au in hole EC-23-02; 3.0 m of 2.42 g/t Au in hole EC-23-01; and 15.7 m of 0.32 g/t Au in hole EC-23-05. This drill program represented a successful and cost-effective first pass test of a highly prospective target, with 2,039 m of drilling completed for less than CAD$500k. Additional drilling is recommended to expand the known extent of mineralized zones.
Golden Sable : Surface work at the Golden Sable project, south-central BC, extended the gold-in-soil anomaly to 4 km in length (see news release dated September 14, 2023 ). The Golden Sable project was newly acquired by Trailbreaker (see news release dated May 29, 2023 ). The project was subsequently explored by Trailbreaker, focusing on a previously identified significant gold-in-soil anomaly. This anomaly is locally supported by 2018 drill results, including 24.0 m of 0.83 g/t Au, in turn including a sub-interval of 4.0 m of 2.4 g/t Au. Outcrop exposure on the property is limited, and no follow-up drilling along the gold-in-soil anomaly has occurred, leaving a majority of the highly prospective anomaly untested.
Sheldon : A site visit to the Sheldon project, central Yukon, confirmed historic gold-in-rock values, as well as numerous key geological features indicating a potential "reduced intrusion-related gold system" (RIRGS). Rock samples collected in an area hosting abundant sheeted quartz veins containing arsenopyrite and bismuthinite, near the contact of the Sheldon Stock granite and hornfels sedimentary rocks, returned assays up to 6.48 g/t Au. The site visit confirmed the geological model, presence of high-priority targets, and supported our exploration approach to be applied at the Sheldon property. An updated project presentation may be found on our website.
Castle Rock : Trailbreaker announced the acquisition of the Castle Rock property, northern Vancouver Island, BC, through a combination of claim staking and a partnership agreement with Cazador Resources (see news release dated January 20, 2023 ). The property was subsequently consolidated through a secondary agreement with Cazador Resources, giving Trailbreaker the option to gain a 100% interest in the property (see news release dated August 8, 2023 ). A surface exploration program, consisting of 497 soil samples, 50 rock samples, and geological mapping, was completed at Castle Rock. This program followed up on the 2022 gold-in-soil anomaly identified near the gold-rich Heart porphyry prospect, and on historic rock samples at the Flan zone (see news release dated September 25, 2023 ). Assay samples for this work are still outstanding and will be reported separately once received.
Vice President of Exploration : In addition to Trailbreaker's field exploration activities, Dillon Hume, M.Sc., P.Geo., joined the team as the Vice President of Exploration in July, 2023. Mr. Hume brings a wealth of mineral exploration experience to Trailbreaker, having been involved in significant discoveries, including the East Ridge Zone at the Red Chris Cu-Au porphyry mine, and the Krakatoa Zone at the Kudz Ze Kayah VHMS deposit. Mr. Hume completed an M.Sc. degree on the structural and mineralogical controls of gold mineralization at the Tajitos orogenic gold deposit in Sonora, Mexico, and is registered as a professional geoscientist in British Columbia. He brings a strong management and technical foundation to help propel Trailbreaker's exciting project portfolio.
Project Generation
Trailbreaker is continually conducting project generation, including reviewing projects that may add significant exploration potential and fit well within Trailbreaker's portfolio. Project generation is primarily focused on identifying underexplored and undervalued projects which the technical team feels have realistic potential for significant advancement. Project generation work is primarily focused on gold projects in British Columbia and Yukon.
Outlook for future work
Trailbreaker is preparing for another year of exploration across a suite of prospective projects. Surface work and geophysical surveys will be conducted at numerous properties to develop drill targets that could lead to significant discoveries. As well, the technical team is planning first-pass drill programs for several projects. Additional news on specific work programs can be expected through the winter and spring months, as these planning efforts solidify.
In addition to field work for 2024, the Trailbreaker team will be attending conferences over the winter months, including but not limited to: the AMEBC RoundUp conference from January 22-25, 2024 in Vancouver; the Prospectors and Developers Association of Canada conference from March 3-6, 2024 in Toronto; and the Kamloops Exploration Group Conference from April 9-10, 2024 in Kamloops.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company's projects, please visit Trailbreaker's website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker's tweets at Twitter.com/TrailbreakerLtd , use the ‘Contact' section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com .
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.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Telephone: 604 681 1820
Facsimile: 604 681 1864
https://www.TrailbreakerResources.com
https://twitter.com/TrailbreakerLtd.
News Provided by GlobeNewswire via QuoteMedia
Trailbreaker Resources Ltd. (TBK.V) ("Trailbreaker" or "the Company") is pleased to announce that it has completed a surficial exploration program at its Castle Rock property on northern Vancouver Island, British Columbia (BC).
The program consisted of the collection of 497 soil samples, 50 prospecting grab samples, and geological mapping. It was primarily designed to follow up on the channel sample and associated 400 m x 50 m gold-in-soil anomaly defined as the Heart zone in 2022.
Daithi Mac Gearailt, CEO of Trailbreaker, commented: "The program provided excellent coverage of the already robust gold anomaly at the Heart zone. This is a very recent discovery in an underexplored area of the Island. With the results in hand, we will have a more complete picture of the strike length of the anomaly and whether there are additional geochemical trends."
All assays for the program remain pending.
About the Castle Rock property
The Castle Rock property covers 3,108 hectares on Northern Vancouver Island, approximately 70 km northwest of Campbell River, BC (Figure 1). It was acquired by Trailbreaker in 2022 and was recently consolidated through an option agreement (see August 8, 2023 news release ).
The claims cover five BC Minfile occurrences along a district-scale structure that is >5 km long, with newly identified gold ± copper-enriched intrusions. These Minfile occurrences are relatively new discoveries, mostly due to access created by recent logging activity.
Northern Vancouver Island is host to several large copper-gold (Cu-Au) porphyry deposits including Northisle's Hushamu deposit (Inferred Resource of 5.57 Moz AuEq) 1 , and BHP Billiton's past producing Island Copper porphyry copper deposit (has produced >2.7 B lb Cu and >1.0 Moz Au) 1 .
At the Castle Rock property, gold is dominantly hosted in Jurassic granodiorite dykes emplaced along a regional-scale fault zone separating Lower to Middle Triassic Daonella Bed sedimentary rocks from Upper Triassic Karmutsen Formation basalts.
Figure 1: Location of the Castle Rock property on Vancouver Island 1 .
2023 exploration at the Heart and Flan zones
The Heart zone was the primary focus of the 2023 exploration program. The Heart showing (upon which the zone is centered) was discovered in 2012 and consists of a brecciated granodiorite dyke containing 5% to 10% combined pyrite and chalcopyrite. Historic chip sampling returned assays of 2.0 g/t Au over 30 metres 2 .
During 2022, Trailbreaker completed a channel sampling program at the Heart showing which returned values up to 0.68 g/t Au over 13.11 m, including a subinterval of 1.85 g/t Au over 2.92 m. A small soil geochemical survey outlined a 400 m x 50 m, northwest-southeast trending gold-in-soil anomaly. This is interpreted to represent the surface footprint of the gold-bearing dyke exposed at the Heart showing. Soil values up to 5.44 g/t Au were returned, and the anomaly remains open. This area is referred to as the Heart zone.
During the 2023 program, the exploration team expanded the soil grid, now covering 3.2 km x 1.5 km with 497 soil samples (see Figure 2). Additional prospecting was also done along trend of the Heart zone to explore for similar mineralization to that of the main Heart showing.
The soil survey was also extended to cover the Flan zone, located approximately 1.5 km west of the Heart zone. The zone was originally discovered in 2000 and comprises numerous high-grade boulders assaying up to 135 g/t Au 3 . Prospecting at the Flan zone during the 2023 program uncovered significant pyrrhotite-chalcopyrite mineralization hosted in a mafic volcanic unit. While the boulders were originally interpreted as sourced from the Heart zone, the mineralized volcanic rocks may represent a recently exposed bedrock source discovered in 2023 within 200 metres of the historic location of the boulders.
Figure 2: 2023 sample locations at the Castle Rock property with inset showing 2022 results at the Heart zone.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company's projects, please visit Trailbreaker's website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker's tweets at Twitter.com/TrailbreakerLtd , use the ‘Contact' section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com .
References
1) https://cmscontent.nrs.gov.bc.ca/geoscience/PublicationCatalogue/InformationCircular/BCGS_IC2014-04.pdf
2) https://minfile.gov.bc.ca/Summary.aspx?minfilno=092L%20%20399
3) https://minfile.gov.bc.ca/Summary.aspx?minfilno=092L%20%20396
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.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
| Trailbreaker Resources Ltd. | ||
| 650 W. Georgia Street, #2110 | ||
| Vancouver, British Columbia | ||
| Canada, V6B 4N9 | ||
| Telephone: | 604 681 1820 | |
| Facsimile: | 604 681 1864 | |
| https://www.TrailbreakerResources.com | ||
| https://twitter.com/TrailbreakerLtd. | ||
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/ea60c3c3-fb49-43ce-9748-506837f96ee2
https://www.globenewswire.com/NewsRoom/AttachmentNg/c68c91f3-5231-4a07-886b-40a96e0c9392
News Provided by GlobeNewswire via QuoteMedia
Trailbreaker Resources Ltd. (TBK.V) ("Trailbreaker" or "the Company") is pleased to announce results from its 2023 surficial exploration program at the Golden Sable property in south-central British Columbia (BC). Efforts were focused on investigating a historic 3-kilometre-long gold-in-soil anomaly. The program was successful in extending the anomaly a further 1 kilometre to the southeast, where it remains open.
Daithi Mac Gearailt, CEO of Trailbreaker, commented: "This was an excellent first-pass evaluation of a property with known gold mineralization. There is a very significant gold-in-soil trend here, with historic drilling to verify the presence of gold mineralization in bedrock."
About the Golden Sable property
The 2,852-hectare Golden Sable property is located 75 km northeast of Kamloops, BC, and 20 km south of Bridge Lake, BC. It is easily accessible via Highway 24 and the Bonaparte Forest Service Road. Golden Sable comprises two main areas, Golden Sable (GS) East and GS West, which are contiguous (see Figure 1 and May 29, 2023 news release ).
The Golden Sable property covers an intrusion-related gold target. The claims lie within the Quesnel tectonic terrane that hosts many of British Columbia's active and past-producing gold mines. Middle to Upper Triassic Nicola Group volcanics and sedimentary rocks comprise the majority of the underlying bedrock geology. The property also straddles the margins of a large, early Jurassic hornblende-biotite granodiorite pluton with prevalent younger mafic and andesitic dikes.
From 2006 to 2013 Amarc Resources delineated the 3-kilometre-long soil anomaly on the GS West block, which was subsequently drill tested by Sable Resources in 2018.
The inaugural, 1,339-metre drill program conducted by Sable Resources on the GS West block encountered gold mineralization in 5 of 7 drill holes. Results include an intersection of 0.83 g/t gold (Au) over 24.0m, including 2.4 g/t gold over 4.0m. Gold mineralization was found to be associated with mafic and intermediate dike swarms trending northwest – southeast along the granitic contacts.
No follow-up drilling has been conducted to date, and the majority of the gold-in-soil anomaly remains untested.
Figure 1: Location of Trailbreaker's Golden Sable property.
Trailbreaker's 2023 exploration program
The 2023 surficial exploration program was designed to evaluate the quality of the historic soil sample locations, locate the historic drill holes, map and prospect available outcrops, and continue soil sampling to the southeast of the GS West historic gold-in-soil trend.
The program was successful in extending the GS West gold-in-soil anomaly 1 km farther to the southeast, where it remains open. Assaying of the soil samples within this trend returned values up to 242 ppb Au (see Figure 2).
A tightly-spaced soil sample grid was also performed over historic soil samples in the area of drilling to evaluate the consistency and quality of previous results. Assay results within this grid returned values up to 601 ppb Au and displayed a similar anomalous signature to that of the historic soil sampling, confirming the validity of the historic anomaly.
Geological mapping revealed outcrops of granite and andesitic dikes within the gold-in-soil trend. Significant pyrite mineralization occurs in the area of the historic drilling.
Figure 2: 2023 exploration at Golden Sable West.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker's BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
OTHER
For new information about the Company's projects, please visit Trailbreaker's website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker's tweets at Twitter.com/TrailbreakerLtd , use the ‘Contact' section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com .
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.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Telephone: 604 681 1820
Facsimile: 604 681 1864
https://www.TrailbreakerResources.com
https://twitter.com/TrailbreakerLtd
Photos accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/e2f6002a-b3b5-4a84-8752-4fcc36952b63
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News Provided by GlobeNewswire via QuoteMedia
Commenting on the latest diamond drilling results from the Myall FJVA Project, Magmatic Resources’ Managing Director Mr David Richardson said:
“The gold mineralisation intersected by recent drilling at Calais has continued to open up this second exploration front within the Myall FJVA Project and intersecting a gold-copper zone at this early stage is very encouraging. We are working closely with Fortescue on a follow-up program.”
Figure1.Calais conceptual geological cross section looking north with drilling over 3D modelled magnetic isosurfaces of equal field strength with interpreted magnetite-pyrite-chalcopyrite shell
Click here for the full ASX Release
This article includes content from Magmatic Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Metals Focus anticipates that the underlying conditions supporting gold's record run will persist through 2025, with the price expected to reach a yearly average of US$3,210, a record high.
Up until the start of 2025, investor sentiment remained low, particularly in western markets where exchange-traded funds (ETFs) saw outflows for much of the year. It wasn’t until October, as the price of gold approached the US$2,800 mark, that ETF inflows in the US and Europe began to gain positive momentum.
Significant purchases by central banks in Asia, the Middle East, and Eastern Europe provided essential pricing support for gold behind the price gains in 2024. Overall, central banks added a record 1,086 metric tons throughout the year.
This buying was driven by countries aiming to diversify their monetary holdings away from the US dollar, as gold serves as a non-liability-bearing reserve asset. The shift in monetary policy has gained attention over the past several years, especially after Russia’s invasion of Ukraine and growing concerns over US overreach following the country’s actions to cut Russia off from the global banking system and restrict the use of the US dollar.
Investors also noted the persistent tensions between Russia and Ukraine, along with fears that the Israel–Gaza conflict could escalate into a broader regional war, which further influenced sentiment in favour of gold as a haven asset.
The underlying global drivers have persisted into early 2025, accompanied by new tailwinds for the gold market.
These include the chaos caused by US trade policy, which has created a rift between the world’s largest economy and key trading partners, notably Canada, Mexico, and China. Tariffs have heightened the expectation of a trade war that could affect supply chains and future trade agreements.
The severity, permanence, and outcomes of these measures have only just begun to be felt in the market. US market data registered a slight uptick in inflation numbers for May, and the US Federal Reserve suggested that uncertainty played a role in its decision to maintain interest rates at its last meeting on May 6-7.
Policies enacted by the Trump administration since the beginning of the year have led to a slowdown in global economic growth and have even raised the spectre of a recession as the tariffs threaten to reverse global central banks’ fight against inflation.
In addition to US foreign policy, its ballooning debt continues to erode confidence in the US dollar as the global reserve currency. The current US debt sits around US$37 trillion. The Trump administration pledged to tackle growing debt by cutting government spending through new initiatives like the Department of Government Efficiency.
However, a new spending bill that would essentially extend Donald Trump’s Tax Cuts and Jobs Act would reduce federal income by US$4.5 billion, with minimal decrease in spending to offset this loss.
The overall sustainability of the US economy has raised significant concern among investors, particularly as expectations suggest that Trump’s policies will worsen the debt crisis in the US. This has led to considerable instability in US and global equity markets since the start of the year, resulting in increased inflows into gold and gold-backed securities.
High prices are causing significant shifts in market demand, leading Metals Focus to predict a net decline of 9 percent in 2025, with total tonnage falling to 4,246 metric tons from the 4,669 metric tons recorded in 2024.
Leading the way is jewellery, the largest demand segment, which is projected to decrease by 16 percent in 2025, dropping from 2,011 metric tons in 2024 to 1,696 metric tons, with India and China contributing the most substantial declines.
In India, a shift towards lighter weight and lower karat pieces is expected to accelerate, while in China, high prices, weak consumer sentiment, and a sluggish economy will impact demand there.
In other countries, jewellery demand is likely to be affected by high prices, low consumer confidence, and economic uncertainty.
Gold supply and demand.
Chart via Metals Focus.
Additionally, central banks are expected to slow their pace of buying, with Metals Focus suggesting an 8 percent decline to 1,000 metric tons, down from the record 1,089 metric tons purchased the previous year.
However, these declines will be offset by increases in other sectors.
Net physical demand is predicted to rise by 2 percent to 1,218 metric tons from 1,191 metric tons in 2024 as more investors will be drawn to gold to diversify their portfolios amid economic uncertainty and geopolitical tension.
The expectation is that much of the increase will be driven by Chinese investment, followed by a recovery in European markets. Conversely, the US may experience some decline as investors there seek to take profits while gold continues to trade near record-high prices.
Gold supply is projected to see modest growth in 2025, with Metals Focus forecasting a 1 percent increase to 3,694 metric tons from the 3,661 metric tons recorded in 2024. Higher output is anticipated globally, with the exceptions of Asia, Oceania, and the Commonwealth of Independent States.
A significant contributor is a 19 percent increase in North American output as Artemis Gold’s (TSXV:ARTG,OTCQX:ARGTF) Blackwater mine, B2Gold’s (TSX:BTO,NYSE:BTG) Goose Project, and Calibre Mining’s (TSX:CXB,OTCQB:CXBMF) Valentine mine come online. Similarly, Central and South America are expected to see several new mines begin operations in 2025, resulting in a 23 percent increase in regional output.
The firm expects recycling to remain stable, despite predictions that gold prices will reach record highs for the remainder of 2025.
Metals Focus attributes this stability to weak retail destocking in China, which corresponds with low demand for jewellery. In the West, recycling is anticipated to be affected by near-market stock depletion and increased exchange rates of old for new jewellery in price-sensitive markets.
Furthermore, producer debt obligations must be addressed alongside periods of high capital expenditures for certain producers, which is anticipated to result in heightened hedging activity by year-end.
Overall, Metals Focus predicts a strong year for gold prices, driven by a global macro environment characterized by trade wars, economic uncertainty, and geopolitical tensions.
While higher prices may reduce discretionary spending on gold products, investors are turning to the gold market to diversify their portfolios, further contributing to a rise in gold prices in 2024 and 2025.
However, elevated prices will likely benefit producers who have spent recent years finding operational efficiencies and offsetting cost increases from a heightened inflationary environment. This situation has led to higher margins and a healthy balance sheet in 2024, which Metals Focus believes is likely to continue into 2025.
Although exploration activities faced a global downturn in 2024, there were notable exceptions. Metals Focus noted that mining data firm Opaxe recorded a 10 percent decrease in global exploration reports in 2024. However, Canada, Australia, and the US made up 70 percent of the total updates, indicating a preference for politically stable jurisdictions.
Investors in the gold market may benefit from paying attention to these trends, as producers aim to expand mining operations or seek new deposits to replenish depleting resources.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Dean Belder, own shares of Calibre Mining.
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 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
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: "These results have some of the highest oxide gold-antimony grades that we have seen to date at Limo Butte. We have also started to expand the mineralization footprint at Resurrection Ridge, with over 800 meters defined, and we still have over 30 holes to release prior to commencing our 2025 drill program. We are continuing to see exceptional oxide gold-antimony results across a large area at the Project, and we will remain focused on adding to the mineralization footprint and filling in some of the gaps in the gold-antimony geological database, with the goal of rapidly advancing Limo Butte to an initial gold-antimony Mineral Resource Estimate ("MRE") in 2025 . Our metallurgical testwork program continues to advance to outline the optimal flowsheet to recover the gold and antimony, and we are expecting results over the coming weeks. The environment is optimal to continue to advance and unlock 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 |
| Resurrection Ridge | ||||||
| LIM-46 | 29.0 | 3.56 | 0.13% | 4.14 | 120.4 | 149.4 |
| including | 15.2 | 6.37 | 0.15% | 7.04 | 126.5 | 141.7 |
| LB016 | 36.6 | 0.16 | 0.10% | 0.61 | 0 | 36.6 |
| LB018*** | 74.7 | 0.45 | 0.23% | 1.47 | 36.6 | 111.3 |
| including | 18.2 | 0.92 | 0.60% | 3.59 | 73.2 | 91.4 |
| also including | 6.0 | 0.31 | 0.96% | 4.61 | 73.2 | 79.2 |
| LB030*** | 12.2 | 0.58 | 0.32% | 2.03 | 170.7 | 182.9 |
| LB002*** | 25.0 | 0.07 | 0.13% | 0.67 | 0.0 | 25.0 |
| LB21-002*** | 64.0 | 0.72 | 0.33% | 2.19 | 48.2 | 112.2 |
| including | 24.1 | 1.47 | 0.60% | 4.17 | 50.6 | 74.7 |
| also including | 4.5 | 1.43 | 2.10% | 10.86 | 67.4 | 71.9 |
| LB21-003*** | 20.1 | 1.91 | 0.17% | 2.68 | 62.5 | 82.6 |
| LB024*** | 61.0 | 0.26 | 0.18% | 1.07 | 79.3 | 140.2 |
| LB023*** | 67.1 | 1.30 | 0.18% | 2.11 | 24.4 | 91.5 |
| including | 30.5 | 2.79 | 0.33% | 4.29 | 30.5 | 61.0 |
| also including | 16.8 | 5.05 | 0.46% | 7.12 | 42.7 | 59.4 |
| LB029*** | 79.3 | 0.53 | 0.14% | 1.16 | 122.0 | 201.2 |
| including | 18.3 | 0.52 | 0.30% | 1.86 | 128.0 | 146.3 |
| LB013*** | 49.7 | 0.15 | 0.26% | 1.29 | 30.8 | 80.5 |
| LB21-005*** | 79.2 | 0.22 | 0.08% | 0.56 | 64.5 | 143.7 |
| including | 8.6 | 0.59 | 0.46% | 2.66 | 65.5 | 74.1 |
| 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 |
| 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 |
*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, March 26, 2025, April 10, 2025, April 24, 2025, May 13, 2025, and June 3, 2025.
**** Historical drilling had an upper detection limit of 1% Sb but many drill intervals exceeded the limit.
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: Sb 2 S 3 ) 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
NevGold VP Exploration, Greg French, comments: "These results are some of the strongest gold-antimony grades seen at the Project. It is also encouraging to see the mineralization extend along strike to the south where there is little antimony assay drill data, and to the north where there is minimal historical drilling. With our robust understanding of the structures and key mineralization host rocks, these areas will be a focus of our 2025 drilling as we look to expand the oxide gold-antimony mineralization footprint along strike . We are excited to commence our 2025 drill program shortly which will be focused on strengthening our current gold-antimony geological database , along with making new gold-antimony discoveries. "
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 |
| LIM-46 | RR | 667271 | 4417374 | 2187 | 182.9 | 0 | -90 |
| LIM016 | RR | 666518 | 4417359 | 2073 | 91 | 0 | -90 |
| LB018 | RR | 666993 | 4417308 | 2132 | 152.4 | 0 | -90 |
| LB030 | RR | 667143 | 4417273 | 2174 | 193.5 | 0 | -60 |
| LB002 | RR | 667177 | 4417244 | 2192 | 182.9 | 82 | -50 |
| LB21-002 | RR | 666979 | 4417343 | 2117 | 151.8 | 0 | 90 |
| LB21-003 | RR | 667061 | 4417417 | 2129 | 183.5 | 0 | 90 |
| LB024 | RR | 667217 | 4417423 | 2159 | 189 | 70 | -80 |
| LB023 | RR | 667143 | 4417273 | 2174 | 187 | 70 | -60 |
| LB029 | RR | 667128 | 4417307 | 2162 | 237.7 | 0 | -90 |
| LB013 | RR | 667142 | 4417273 | 2177 | 164.7 | 90 | -50 |
| LB21-005 | RR | 667279 | 4417487 | 2179 | 253.8 | 0 | -90 |
| LB006 | RR | 667030 | 4417384 | 2125 | 152.7 | 0 | -90 |
| LB001 | RR | 667036 | 4417384 | 2125 | 77 | 0 | -90 |
| LB003 | RR | 667134 | 4417528 | 2133 | 129.4 | 0 | -90 |
| LB004 | RR | 667313 | 4417277 | 2239 | 198.7 | 270 | -50 |
| LIM-40 | RR | 667018 | 4417409 | 2124 | 289.6 | 0 | -90 |
| LIM-45 | RR | 666929 | 4417389 | 2103 | 179.8 | 0 | -90 |
| LIM-48 | RR | 666927 | 4417374 | 2105 | 286.5 | 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
Engagement of Marketing Consultants
The Company has retained Machai Capital Inc. ("Machai Capital"), based in Vancouver, Canada, to provide marketing services including advertising, press release distribution, native advertising of editorial, and additional services as may be determined. Machai Capital will utilize its expertise in branding, content and data optimization, search engine optimization, search engine marketing, lead generation, digital marketing, social media marketing, email marketing, and brand marketing to enhance the Company's marketing campaigns and increase awareness of the Company. The program is budgeted for C$350,000 over a two-month term starting on June 1, 2025. Machai Capital and its principals have an arm's length relationship with the Company. Machai Capital currently owns 50,000 shares of the Company.
The Company has also retained Equedia Network Corporation ("Equedia Network"), based in Vancouver, Canada, to provide advertising, press release distribution, native advertising of editorial, and additional services as may be determined. The program will utilize non-generic marketing channels to provide the Company exposure to fresh investment audiences. The advertising program is budgeted for C$150,000 over a six-month term starting on June 1, 2025. Equedia Network and its principals have an arm's length relationship with the Company.
Additionally, NevGold announces that it has entered into a digital marketing services agreement with Altura Media Co Inc. ("Altura"), who is based in British Columbia, for an initial three-month period expected to commence on June 9, 2025. Under the agreement, Altura will provide a comprehensive suite of services, including digital advertising, media creation, social media marketing and shareholder communications. In consideration of its services, the Company will pay Altura Media a fee of up to C$150,000. Altura and its principals have an arm's length relationship with the Company.
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.
References
Blackmon, D. (2021) Antimony: The Most Important Mineral You Never Heard Of. Article Prepared by Forbes.
Kurtenbach, E. (2024) China Bans Exports to US of Gallium, Germanium, Antimony in response to Chip Sanctions . Article Prepared by AP News.
Lv, A. and Munroe, T. (2024) China Bans Export of Critical Minerals to US as Trade Tensions Escalate . Article Prepared by Reuters.
Lv, A. and Jackson, L. (2025) China's Curbs on Exports of Strategic Minerals . Article Prepared by Reuters.
Perpetua Resources. (2025) Antimony Summary . Articles and Videos Prepared by Perpetua Resources.
Sangine, E. (2022) U.S. Geological Survey, Mineral Commodity Summaries, January 2023 . Antimony Summary Report prepared by U.S.G.S
U.S.G.S. (2022) U.S. Geological Survey Releases 2022 List of Critical Minerals . Reported Prepared by U.S.G.S
Wilson, D.,J., Christiansen, E., H., and Tingey, D., G., 1994, Geology and Geochemistry of the Golden Butte Mine- A Small Carlin- Type Gold Deposit in Eastern Nevada: Brigham Young University Geology Studies, v.40, P.185-211. BYU V.40 P.185-211.
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