Northwire Canada EditionWednesday, July 29, 2026
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NAM 0.250 +0.0% CRD 0.065 +8.3% OLA 12.90 −3.7% CG 22.70 −2.5% EQX 12.89 −4.0% FM 37.51 −2.3% MNRG 0.080 −11.1% KFR 1.31 +0.8% AUMN 0.275 +0.0% GLB 0.250 +0.0% BHS 0.045 −10.0% EGR 0.025 +0.0% RIO 2.59 −4.1% GEN 0.070 +0.0% MAI 4.39 −2.0% RYR 0.175 +0.0% NAM 0.250 +0.0% CRD 0.065 +8.3% OLA 12.90 −3.7% CG 22.70 −2.5% EQX 12.89 −4.0% FM 37.51 −2.3% MNRG 0.080 −11.1% KFR 1.31 +0.8% AUMN 0.275 +0.0% GLB 0.250 +0.0% BHS 0.045 −10.0% EGR 0.025 +0.0% RIO 2.59 −4.1% GEN 0.070 +0.0% MAI 4.39 −2.0% RYR 0.175 +0.0%
Resource Estimate

Nevgold updates MRE for Nutmeg Mountain

By The Northwire Desk — AI Analysis Sep 18, 2025 · 17:51 NAU · 0.32 Nevgold Corp.
NAU · Price

Executive Summary

  • Nevgold Corp. announced an updated NI 43‑101 mineral resource estimate for the Nutmeg Mountain gold project in Idaho, reporting 1.19 million oz indicated and 548,000 oz inferred at a base cut‑off of 0.20 g/t Au.
  • Higher‑grade resources (cut‑off 0.60 g/t) total 560,000 oz indicated and 85,000 oz inferred, with mineralization starting at surface and an exceptionally low strip ratio (<1:1).
  • The company will advance the project toward a Preliminary Economic Assessment (PEA), supported by additional metallurgical testwork and further drilling of high‑priority targets.

Key Details

  • Base‑case resource: 1,186,000 oz indicated at 0.50 g/t Au contained in 74.2 M t; 548,000 oz inferred at 0.34 g/t Au contained in 49.8 M t.
  • Higher‑grade cut‑off (0.60 g/t): 560,000 oz indicated at 0.92 g/t Au; 85,000 oz inferred at 0.87 g/t Au.
  • Resource growth: Compared with the 2023 MRE, indicated tonnage increased >18 % and inferred tonnage more than doubled (>100 %).
  • Strip ratio: Conceptual pit shells indicate a strip ratio of <1:1, unusually low for an open‑pit heap‑leach gold project.
  • Project size & access: 1,724 ha covering 210 federal unpatented claims, 12 patented claims and two private leases; located in Tier 1 jurisdiction (southwestern Idaho).
  • Drilling history: 940 drill holes (core, RC, rotary) totaling >71,600 m; average hole depth <75 m. Recent 2023 program added five core holes (1,371 m), four intersecting known mineralization.
  • Future work: Completion of additional metallurgical testwork and drilling of identified high‑priority surface and depth targets; preparation of a NI 43‑101 technical report (to be filed within 45 days).
  • Economic assumptions used for pit modeling: Gold price $2,350/oz; mining cost $2.20/t moved; processing & G&A $5.50/t; heap‑leach recovery 80 %; pit slope 50°.

Notable Quotes

“This is another important milestone for Nevgold and the Nutmeg Mountain gold project… we look forward to drilling the highly prospective targets that we have identified at surface and at depth.” – Brandon Bonifacio, CEO

Qualified Person statements: Greg Mosher, PGeo, MSc (GMRS) – independent QP; Greg French, CPG (Nevgold VP Exploration) – company QP.

Read the original news release →

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