NevGold Secures C$42.2 M Financing Ahead of Q2 Antimony-Gold Resource Estimate
NevGold Corp closed a C$42.2 million brokered placement at C$1.90 to advance Limousine Butte and Nutmeg Mountain projects. The company reported oxide antimony-gold assay results up to 1.93 g/t AuEq over 100.6 m and metallurgical recoveries of 93%–99% gold with 54%–92% antimony, targeting a maiden Q2 2026 antimony-gold MRE.
1. Oversized Brokered Financing
On April 20, 2026, NevGold announced an upsized brokered private placement of C$42,225,497, comprising 22,223,946 shares at C$1.90. Clarus Securities acted as sole agent and bookrunner, with net proceeds earmarked for advancing the Limousine Butte and Nutmeg Mountain projects, working capital, and general corporate purposes, and a close expected around May 12.
2. Drill Intercepts and Metallurgical Results
On April 9, 2026, oxide antimony-gold drill results at Limousine Butte returned an intercept of 1.93 g/t gold equivalent over 100.6 meters from surface, including 1.11% antimony over 6.1 meters. Phase II metallurgical tests on oxide material achieved gold recoveries of 93%–99% and antimony extraction of 54%–92%, while sonic drilling of historic leach pads yielded up to 0.34% antimony with 0.55 g/t gold over 14.6 meters.
3. Maiden Resource Estimate and Production Pathway
NevGold is targeting a maiden NI 43-101 antimony-gold Mineral Resource Estimate at Limousine Butte in Q2 2026, with a stated goal of near-term antimony production by 2027 through reprocessing of historical leach pads. In parallel, the Nutmeg Mountain project holds an existing MRE of 1.186 million ounces indicated at 0.50 g/t gold and 548,000 ounces inferred at 0.34 g/t gold at a 0.20 g/t cutoff.