NevGold Turns a Year of Drilling Into a U.S. Antimony Resource
Almonty’s maiden U.S. antimony-gold resource defines a near-term jumpstart pathway for the project.
NevGold Corp. has released its maiden gold and antimony Mineral Resource Estimate for the Limousine Butte Project in Nevada, defining Measured, Indicated, and Inferred resources for both metals. The company outlined two parallel development scenarios: a near-term "jumpstart" antimony production pathway targeting late 2027 or early 2028 using existing surface material, and a full-scale commercial mining operation targeting 2029-2030.
The maiden Mineral Resource Estimate, dated July 15, 2026, utilized a cut-off of 0.30 grams per tonne gold equivalent. The estimate includes the following data:
- Antimony: 29,600 tonnes in Measured and Indicated categories at 0.26% Sb; 48,100 tonnes Inferred at 0.18% Sb.
- Gold: 181,400 ounces in Measured and Indicated; 1,203,500 ounces Inferred.
- Near-term Subset: 6,900 tonnes of antimony Measured and Indicated at 0.28%, plus 500 tonnes Inferred at 0.99%, located in material already at surface and previously mined.
The near-term "jumpstart" scenario involves processing already-mined surface material on historical leach pads. The estimated permitting timeline is H2 2026 into 2027, with potential production at the end of 2027 or early 2028. This pathway offers lower capital costs due to the lack of new mining. The full commercial operation represents a larger-scale gold and antimony mining operation targeting 2029-2030, which requires the completion of a Technical Report for formal capital cost estimates.
NevGold remains well-capitalized with approximately C$50 million in cash following a C$42.2 million private placement and debt settlement. The private placement closed in May 2026, upsized to 22,223,946 shares at C$1.90/share for gross proceeds of approximately C$42.2 million. In June 2026, the company settled debt with Mercer Street Global Opportunity Fund II via the issuance of 227,544 shares at C$2.44/share to settle C$555,208.33 in accrued OID.
A 20,000-meter drilling program commenced in May 2026 is focused on resource building and expansion. Recent results include:
- March Results: 11.42 g/t AuEq over 7.7m (2.64% Sb, 1.17 g/t Au) within a 27.4m interval of 4.91 g/t AuEq.
- April Results: 1.11% Sb over 6.1m within a 100.6m run of 1.93 g/t AuEq.
- Historical Leach Pads: 0.34% Sb and 0.41 g/t Au over 12.5m; 0.32% Sb and 0.39 g/t Au over 14.9m.
- Surface Sampling: Grab and grid sampling on pre-strip dump returned values up to 53.7% antimony.
Metallurgical Phase II testwork conducted in April showed gold recoveries of up to 99% on oxide material. NevGold also holds a 100% interest in the Cedar Wash gold project in Nevada, as well as the Nutmeg Mountain gold and Zeus copper projects in Idaho.
Almonty Industries Inc. (AII) released a maiden resource estimate and development pathway update for its pre-revenue exploration operations. The company clarified that the announcement does not constitute a producing asset update, nor does it provide financial results, all-in sustaining costs (AISC), or realized pricing.
The company outlined a "jumpstart" antimony pathway targeting late 2027 or early 2028. This timeline aligns with current U.S. defense supply chain priorities, though the project remains in the permitting and pre-development phase. Almonty holds a cash position of C$50 million, which provides runway for continued exploration and development. The company currently has no revenue, no production, and no formal capital cost estimates (CAPEX) for a full commercial operation.
NevGold Corp. is a mineral exploration company focused on gold and antimony projects in North America. Its flagship asset is the Limousine Butte Project in Nevada, which features a maiden antimony-gold resource and historical surface material on leach pads. The company also holds a 100% interest in the Cedar Wash gold project in Nevada, as well as the Nutmeg Mountain gold and Zeus copper projects in Idaho. While positioned to capitalize on U.S. defense supply chain initiatives for antimony and gold, the company remains in the pre-revenue exploration stage.