Junior Miner Discovers Massive Gold-Antimony Zones in Nevada

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NevGold Corp. (NAU:TSX.V; NAUFF:OTC; 5E50:FSE) has reported additional high-grade oxide gold-antimony drill results from its Limousine Butte Project in Nevada, further defining the mineralized footprint at the Resurrection Ridge target. Among the most significant findings was hole LB21-004, which returned 9.68 g/t gold equivalent (AuEq) over 11.6 meters (8.92 g/t gold and 0.17% antimony) within a broader interval of 2.85 g/t AuEq over 60.3 meters. Other notable intercepts include 1.55 g/t AuEq over 19.8 meters from hole RR03_06 and 1.20 g/t AuEq over 33.9 meters in LB020. Gold equivalent values were calculated using metals prices of US$2,000 per ounce for gold and US$35,000 per tonne for antimony, with assumed recoveries of 85% and 70%, respectively.

These results represent some of the highest oxide gold-antimony grades seen to date at the project and are expected to support an initial Mineral Resource Estimate (MRE) for gold and antimony in 2025. NevGold is also progressing metallurgical testing, with results anticipated in the coming weeks. In addition to ongoing re-analysis of historical drill data, the company plans to begin new drilling in July 2025 targeting high-grade areas at Resurrection Ridge.

The company's Limousine Butte project has gained added relevance following a March 2025 U.S. Executive Order prioritizing domestic production of critical minerals, including antimony. With global antimony supplies dominated by China, Russia, and Tajikistan (and recent export restrictions imposed by China), NevGold's efforts to delineate a domestic source have strategic implications.

Gold's Role Strengthens Amid Global Uncertainty and Dollar Weakness

Gold continued to gain prominence in 2025 amid global economic shifts and financial system uncertainty. According to a June 23 report by Frank Holmes in Frank Talk, gold became the second-largest global reserve asset, trailing only the U.S. dollar. Holmes wrote that gold "trading above US$3,400 per ounce" reflected increased institutional demand, noting that central bank gold purchases exceeded 1,000 tonnes annually over the past three years. These levels represented "more than double the annual average of the previous decade." A European Central Bank report cited by Holmes found that gold now accounted for 20% of global foreign exchange reserves, surpassing the euro's 16% share.

On June 24, Matthew Piepenburg of VON GREYERZ stated in a discussion published by VRIC Media that gold was emerging as "THE central global strategic reserve asset." He pointed to global debt concerns and weakening fiat currencies as contributing factors. Piepenburg emphasized that gold's performance went beyond speculation or volatility hedging, calling it "a superior store of value than fiat currencies and sovereign IOUs of all stripes."

Yahoo Personal Finance provided a market-level view on June 27. Reporter Catherine Brock wrote that gold futures opened that morning at US$3,341.30 per ounce, slightly up from the previous day, and noted that despite short-term fluctuations, gold was up 45.5% year-over-year from its June 2024 opening price of US$2,296.80. The article attributed part of the rise to investor shifts toward capital preservation amid stock market optimism and macroeconomic uncertainty. Costco's expanded retail gold offerings were also noted as a sign of rising consumer interest in physical precious metals.

Institutional Interest Backs NevGold's Gold-Antimony Focus

In a June 1 report, Ivan Lo of Equedia described NevGold Corp. as a rare, advanced-stage junior explorer with strong upside in the critical minerals space. The sponsored analysis highlighted the company's continued progress at its Limousine Butte Project in Nevada, describing it as "an expanding oxide system that already spans over 5 kilometers of strike." The report cited NevGold's delivery of high-grade, near-surface oxide gold-antimony intercepts as a key foundation for a "significant resource update by year-end."

Several 2025 drill results were emphasized, including 2.46 g/t AuEq over 86.9 meters and 13.15 g/t AuEq over 3.1 meters. According to the write-up, these results demonstrated both grade and scale. The geology at Limousine Butte — hosted in the Devonian Pilot Shale — was noted for its alignment with Carlin-style gold systems, enhanced by the presence of antimony. Lo wrote that the project represents "a Carlin-style system with critical mineral upside," aligning it with broader U.S. supply chain priorities.

The report also highlighted the significance of NevGold's recent CA$6 million financing led by Clarus Securities. It called the financing "a vote of confidence from deep-pocketed institutions," pointing to Clarus's history of success in early-stage mining. The participation was interpreted as a potential signal of further institutional engagement as NevGold moves forward with its exploration and development plans.

Key upcoming milestones noted in the analysis included a maiden mineral resource estimate, results from re-assayed historical drill holes with antimony intervals previously capped, and metallurgical testing of a 100-kilogram bulk sample. The report concluded that "these oxide-style intercepts point not only to scale but also to strong economics," positioning NevGold to potentially benefit from U.S. policy efforts supporting domestic production of critical minerals.

Path to Resource: 2025 Milestones and Strategic Advantages

NevGold's 2025 work program at Limousine Butte includes a re-assay of approximately 50 historic drillholes, ongoing metallurgical testing, and a planned 5,000-meter reverse circulation drilling campaign. The aim is to advance the project toward a maiden gold-antimony MRE by year-end. The company has already released results from over 20 holes and anticipates releasing results from 30 more throughout the year. The Resurrection Ridge zone currently exhibits more than 800 meters of defined strike length with near-surface oxide mineralization, offering a potential starter pit scenario.

The company's strategy also benefits from its strategic land position within an active district. Surrounding activity includes a US$33 million earn-in agreement between Freeport-McMoRan and Falcon Butte Minerals and an earn-in by Centerra Gold on a nearby property. Internally, NevGold is leveraging over US$35 million in prior exploration data across its holdings and is fully financed following a CA$6 million raise in May 2025.

These exploration and development activities, combined with a favorable policy environment and promising geology, position Limousine Butte as a significant emerging source of both gold and antimony within the United States.

Ownership and Share Structure

Strategic investors include GoldMining Inc., which holds 28.3% of the company on an undiluted basis, and McEwen Mining Inc. 

The company said about 30% is held by management and insiders.

According to Refinitiv, these include Non-Executive Chairman Giulio T. Bonifacio with 4.56%, CEO Brandon Bonifacio with 3.46%, Independent Director Gregory French with 0.85%, and Independent Director Timothy Dyhr with 0.70%, Refinitiv said.

About 10% is held by institutions, and the rest is in retail.

As for its share structure, NevGold has 94.25 million outstanding shares and 57.25 million free-float traded shares.

Its market cap is CA$28.33 million. Its 52-week trading range is CA$0.17 and CA$0.50 per share.