NevGold Raises C$42M, Eyes Mid-2026 Antimony-Gold Resource at Limousine Butte
ALM•NevGold Corp. secured C$42 million to advance its Limousine Butte antimony-gold project, funding a 20,000-metre drill program and aiming for a maiden resource estimate by mid-2026. Recent assays include 1.93 g/t AuEq over 100.6 m and testwork indicates sequential recovery of antimony and gold from oxide material.
1. Strategic Importance of Antimony
Antimony is classified as a critical mineral due to its role in military ordnance, flame retardants, semiconductors and grid-scale batteries, yet the United States currently produces almost none of it domestically. Reliance on imports from geopolitical rivals has prompted government initiatives to rebuild Western-aligned supply chains and reduce strategic vulnerability.
2. NevGold's Limousine Butte Project
Located in White Pine County, Nevada, the Limousine Butte site is a former open-pit gold operation now targeted for oxide antimony and gold recovery. Drilling has yielded high-grade intercepts—1.93 g/t AuEq over 100.6 m and 4.91 g/t AuEq over 27.4 m—and metallurgical work shows gold recoveries above 93% after antimony extraction.
3. Financing Catalysts and Timeline
A brokered private placement was upsized to C$42 million in spring 2026 to support a 20,000-metre drill program, resource conversion work and exploration of new targets. The company expects to deliver its maiden antimony-gold mineral resource by mid-2026 and has outlined a potential 12–18 month path to near-term antimony production.
4. Competitive Landscape
NevGold competes with higher-profile projects like Perpetua Resources’ Stibnite mine, which secured a US$2.9 billion EXIM loan under the Make More in America initiative. While Stibnite validates government backing, multiple developers including United States Antimony Corp. must progress projects to close the domestic supply gap.
