NevGold: Undervalued Gold and Critical Metals Explorer with Multi-Million-Ounce Resource Potential

NevGold is a gold and critical metals explorer with projects in Nevada and Idaho, aiming to define a 5 Moz+ gold-equivalent resource base by Q4 2025. The company is advancing its flagship Limo Butte project, an oxide gold-antimony system, and Nutmeg Mountain, an advanced-stage gold project, while also exploring copper potential at Zeus. NevGold is fully funded through its recent capital raise and has a lean market capitalization of under C$50 million.

NevGold Corp. (TSXV: NVG) has announced the completion of an upsized $6.0 million brokered private placement financing, providing the company with sufficient capital to advance its flagship Limo Butte project. The funding will support the ongoing exploration and drilling program at the project, with a focus on defining an initial gold-antimony mineral resource estimate (MRE) by 2025.

The company has released additional drill results from the Resurrection Ridge area, highlighting significant oxide gold-antimony mineralization. Key highlights include:

- LB018: 1.47 g/t AuEq over 74.7 meters, including 3.59 g/t AuEq over 18.2 meters and 4.61 g/t AuEq over 6.0 meters.
- LB030: 2.03 g/t AuEq over 12.2 meters.
- LB006: 2.46 g/t AuEq over 86.9 meters, including 5.75 g/t AuEq over 12.8 meters and 6.77 g/t AuEq over 6.7 meters.

These results demonstrate the strong potential of the Limo Butte project, with gold-equivalent grades and widths that are consistent with the company's target of defining a 5 Moz+ gold-equivalent resource base by Q4 2025.

NevGold's CEO, Brandon Bonifacio, commented, "With the strongly supported, upsized $6.0 million financing closed, we are fortunate to be in a position where we still have over 30 holes with results to release from our gold-antimony Limo Butte project, and we will also be commencing another phase of drilling in the coming weeks. We are continuing to see exceptional oxide gold-antimony results across a large footprint at the project, and our focus now turns to rapidly advancing Limo Butte to an initial gold-antimony Mineral Resource Estimate ("MRE") in 2025."

The company's exploration program at Limo Butte includes evaluating the historical geological database with a focus on gold and antimony, re-analyzing historical drilling, and conducting metallurgical testwork. Additionally, NevGold is leveraging the recent Executive Order announced by the U.S. government to strengthen American mineral production and reduce reliance on foreign nations for its mineral supply.

Reference:
[1] https://investingnews.com/nevgold-announces-closing-of-upsized-c-6-0m-brokered-private-placement-financing/