NevGold Turns a Year of Drilling Into a U.S. Antimony Resource
Original announcement by tmx on
- Company
- NevGold Corp.
- Ticker
- NAU
- Exchange
- TSX
- Region
- Nevada
- Primary commodity
- Antimony
- Secondary commodities
- Gold
- Document categories
- Drill results, Resource update, Metallurgy
- Extracted
- 2026-09-12 14:26:56 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
NevGold Corp. has announced a maiden Mineral Resource Estimate for the Limousine Butte Project in Nevada, defining a significant antimony and gold resource. The resource includes 29,600 tonnes of antimony in Measured and Indicated categories at 0.26% Sb, alongside substantial gold ounces. The company is pursuing two development paths: a low-CAPEX jumpstart scenario using existing leach pad material and a larger-scale commercial mining operation.
Reasoning: The company has successfully converted a year of drilling into a maiden antimony-gold resource with high-grade surface oxide mineralization and strong metallurgical recoveries.
Positive factors
- Maiden resource established
- High-grade surface antimony
- Strong gold recoveries
- Well-capitalized position
Negative factors
- No mine scheduling studies completed
- Resource is not a reserve
- Permitting and pricing risks
Facts used in scoring: 16
Classification and evidence
Maiden Resourceneutral
First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable.
Why it applies: The company published its maiden gold and antimony Mineral Resource Estimate for Limo Butte on July 15.
Evidence · text
“All of it converged on July 15, when NevGold published the maiden gold and antimony Mineral Resource Estimate for Limo Butte.”
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: The document mentions technical information and assumptions are set out in the July 15 news release and technical disclosure.
Evidence · text
“The scientific and technical information, including the identity and independence status of the Qualified Person and the assumptions and parameters underlying the Mineral Resource Estimate, is set out in the company's July 15, 2026 news release”
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: the document describes a flotation route ("concentrate")
Single Domain Onlynegative
Testing limited to one composite or domain — representativeness not established.
Why it applies: only one composite was tested
Extracted facts
Stored fact records: 16. Some facts used in scoring do not have a stored record.
Drill Results (10)
Fact 1Bullet Zone and Armory Fault discoveries and other · antimonyGrade: 2.64Grade Unit: %Intercept: 7.7 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Bullet Zone and Armory Fault discoveries and other
- Commodity
- antimony
- Region
- usa_nv
- Reported Region
- usa_nv
- Ticker
- NAU
Geometry
- Grade
- 2.64
- Grade Unit
- %
- Intercept
- 7.7 m
Classification
- Sample Type
- drill
- Group ID
- unknown:0-7.7
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-08-10T00:00:00.000Z
Reasoning: 2.64% Sb is an exceptional grade for antimony.
Positive factors
- High grade intercept
Evidence · text
“11.42 grams per tonne gold equivalent over 7.7 meters, made up of 2.64% antimony and 1.17 grams per tonne gold”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 2Bullet Zone and Armory Fault discoveries and other · goldGrade: 1.17Grade Unit: g/tIntercept: 7.7 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Bullet Zone and Armory Fault discoveries and other
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- usa_nv
- Ticker
- NAU
Geometry
- Grade
- 1.17
- Grade Unit
- g/t
- Intercept
- 7.7 m
Classification
- Sample Type
- drill
- Group ID
- unknown:0-7.7
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-08-10T00:00:00.000Z
Reasoning: Solid gold grade accompanying high-grade antimony.
Evidence · text
“11.42 grams per tonne gold equivalent over 7.7 meters, made up of 2.64% antimony and 1.17 grams per tonne gold”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 3Bullet Zone and Armory Fault discoveries and other · antimonyGrade: 1.09Grade Unit: %Intercept: 27.4 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Bullet Zone and Armory Fault discoveries and other
- Commodity
- antimony
- Region
- usa_nv
- Reported Region
- usa_nv
- Ticker
- NAU
Geometry
- Grade
- 1.09
- Grade Unit
- %
- Intercept
- 27.4 m
Classification
- Sample Type
- drill
- Group ID
- unknown:0-27.4
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-08-10T00:00:00.000Z
Reasoning: Strong grade over a substantial width.
Positive factors
- Significant width
Evidence · text
“27.4 meter interval grading 4.91 grams per tonne gold equivalent at 1.09% antimony and 0.67 grams per tonne gold”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 4Bullet Zone and Armory Fault discoveries and other · goldGrade: 0.67Grade Unit: g/tIntercept: 27.4 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Bullet Zone and Armory Fault discoveries and other
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- usa_nv
- Ticker
- NAU
Geometry
- Grade
- 0.67
- Grade Unit
- g/t
- Intercept
- 27.4 m
Classification
- Sample Type
- drill
- Group ID
- unknown:0-27.4
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-08-10T00:00:00.000Z
Reasoning: Moderate gold grade over a wide interval.
Evidence · text
“27.4 meter interval grading 4.91 grams per tonne gold equivalent at 1.09% antimony and 0.67 grams per tonne gold”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 5Bullet Zone and Armory Fault discoveries and other · antimonyGrade: 1.11Grade Unit: %Intercept: 6.1 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Bullet Zone and Armory Fault discoveries and other
- Commodity
- antimony
- Region
- usa_nv
- Reported Region
- usa_nv
- Ticker
- NAU
Geometry
- Grade
- 1.11
- Grade Unit
- %
- Intercept
- 6.1 m
Classification
- Sample Type
- drill
- Group ID
- unknown:0-6.1
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-08-10T00:00:00.000Z
Reasoning: Strong antimony grade.
Evidence · text
“1.11% antimony over 6.1 meters within a much longer 100.6 meter run grading 1.93 grams per tonne gold equivalent, at 1.07 grams per tonne gold and 0.22% antimony”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 6Bullet Zone and Armory Fault discoveries and other · goldGrade: 1.07Grade Unit: g/tIntercept: 6.1 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Bullet Zone and Armory Fault discoveries and other
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- usa_nv
- Ticker
- NAU
Geometry
- Grade
- 1.07
- Grade Unit
- g/t
- Intercept
- 6.1 m
Classification
- Sample Type
- drill
- Group ID
- unknown:0-6.1
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-08-10T00:00:00.000Z
Reasoning: Solid gold grade.
Evidence · text
“1.11% antimony over 6.1 meters within a much longer 100.6 meter run grading 1.93 grams per tonne gold equivalent, at 1.07 grams per tonne gold and 0.22% antimony”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 7Bullet Zone and Armory Fault discoveries and other · antimonyGrade: 0.34Grade Unit: %Intercept: 12.5 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Bullet Zone and Armory Fault discoveries and other
- Commodity
- antimony
- Region
- usa_nv
- Reported Region
- usa_nv
- Ticker
- NAU
Geometry
- Grade
- 0.34
- Grade Unit
- %
- Intercept
- 12.5 m
Classification
- Sample Type
- drill
- Group ID
- unknown:0-12.5
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-08-10T00:00:00.000Z
Reasoning: Lower grade intercept from historical leach pads.
Evidence · text
“0.34% antimony and 0.41 grams per tonne gold over 12.5 meters”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 8Bullet Zone and Armory Fault discoveries and other · goldGrade: 0.41Grade Unit: g/tIntercept: 12.5 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Bullet Zone and Armory Fault discoveries and other
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- usa_nv
- Ticker
- NAU
Geometry
- Grade
- 0.41
- Grade Unit
- g/t
- Intercept
- 12.5 m
Classification
- Sample Type
- drill
- Group ID
- unknown:0-12.5
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-08-10T00:00:00.000Z
Reasoning: Low grade gold intercept.
Evidence · text
“0.34% antimony and 0.41 grams per tonne gold over 12.5 meters”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 9Bullet Zone and Armory Fault discoveries and other · antimonyGrade: 0.32Grade Unit: %Intercept: 14.9 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Bullet Zone and Armory Fault discoveries and other
- Commodity
- antimony
- Region
- usa_nv
- Reported Region
- usa_nv
- Ticker
- NAU
Geometry
- Grade
- 0.32
- Grade Unit
- %
- Intercept
- 14.9 m
Classification
- Sample Type
- drill
- Group ID
- unknown:0-14.9
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-08-10T00:00:00.000Z
Reasoning: Consistent low-grade mineralization on historic leach pad.
Evidence · text
“0.32% antimony and 0.39 grams per tonne gold over 14.9 meters”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 10Bullet Zone and Armory Fault discoveries and other · goldGrade: 0.39Grade Unit: g/tIntercept: 14.9 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Bullet Zone and Armory Fault discoveries and other
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- usa_nv
- Ticker
- NAU
Geometry
- Grade
- 0.39
- Grade Unit
- g/t
- Intercept
- 14.9 m
Classification
- Sample Type
- drill
- Group ID
- unknown:0-14.9
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-08-10T00:00:00.000Z
Reasoning: Low grade gold intercept.
Evidence · text
“0.32% antimony and 0.39 grams per tonne gold over 14.9 meters”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Resource Estimates (5)
Fact 1antimonyGrade: 53.7Grade Unit: %View all detailsHide details
Identity
- Commodity
- antimony
- Region
- usa_nv
- Reported Region
- Nevada
- Ticker
- NAU
Resource scope
- Reporting standards
- ni_43_101
- Mining method
- underground
Resource Data
- Grade
- 53.7
- Grade Unit
- %
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-10T00:00:00.000Z
Reasoning: Extremely high grade surface grab samples, though not representative of the whole deposit.
Positive factors
- Exceptional surface grades
Negative factors
- Selective sampling
Evidence · text
“Grab and grid sampling there returned values up to 53.7% antimony”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedLimousine Butte · antimonyTonnes: 29600Grade: 0.26Grade Unit: %Contained Metal: 29600Contained Unit: tView all detailsHide details
Identity
- Project
- Limousine Butte
- Commodity
- antimony
- Region
- usa_nv
- Reported Region
- Nevada
- Ticker
- NAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- Resource group id
- resource:92b2aee72489871a2fdb
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 29600
- Grade
- 0.26
- Grade Unit
- %
- Contained Metal
- 29600
- Contained Unit
- t
Prior Estimate
- Resource Date
- 2026-07-15
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-10T00:00:00.000Z
Reasoning: Initial resource definition for antimony.
Positive factors
- Maiden resource
Evidence · text
“29,600 tonnes of antimony in the Measured and Indicated categories at 0.26% antimony”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredLimousine Butte · antimonyTonnes: 48100Grade: 0.18Grade Unit: %View all detailsHide details
Identity
- Project
- Limousine Butte
- Commodity
- antimony
- Region
- usa_nv
- Reported Region
- Nevada
- Ticker
- NAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- Resource group id
- resource:6b6423e9beba0a9d0015
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 48100
- Grade
- 0.18
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-07-15
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-10T00:00:00.000Z
Reasoning: Speculative portion of the maiden resource.
Negative factors
- Inferred category
Evidence · text
“48,100 tonnes Inferred at 0.18% antimony”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedLimousine Butte · goldContained Metal: 181400Contained Unit: ozView all detailsHide details
Identity
- Project
- Limousine Butte
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- Nevada
- Ticker
- NAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- Resource group id
- resource:9afa74fd2d26be586fb1
- Mining method
- underground
Resource Data
- Category
- indicated
- Contained Metal
- 181400
- Contained Unit
- oz
Prior Estimate
- Resource Date
- 2026-07-15
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-10T00:00:00.000Z
Reasoning: Significant gold resource component.
Positive factors
- Maiden resource
Evidence · text
“181,400 ounces Measured and Indicated”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredLimousine Butte · goldContained Metal: 1203500Contained Unit: ozView all detailsHide details
Identity
- Project
- Limousine Butte
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- Nevada
- Ticker
- NAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- Resource group id
- resource:00eda8a68a06489e3449
- Mining method
- underground
Resource Data
- Category
- inferred
- Contained Metal
- 1203500
- Contained Unit
- oz
Prior Estimate
- Resource Date
- 2026-07-15
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-10T00:00:00.000Z
Reasoning: Large gold resource, but mostly in the speculative inferred category.
Negative factors
- Inferred category
Evidence · text
“1,203,500 ounces Inferred”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Metallurgical Results (1)
Fact 1goldRecovery: 99 %View all detailsHide details
Identity
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- Nevada
- Ticker
- NAU
Test Work
- Sample
- oxide antimony and gold material
Recovery
- Recovery
- 99 %
- Recovery Basis
- actual_test
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-10T00:00:00.000Z
Reasoning: 99% gold recovery is exceptional for oxide material.
Positive factors
- Exceptional recovery
Evidence · text
“Phase II testwork announced in April returned gold recoveries of up to 99% on oxide antimony and gold material”
Tags used in scoring
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 99% is at or above the exceptional band (95%)
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.