NevGold Secures C$42.2M, Aims Q2 Maiden Antimony-Gold Resource After 1.93 g/t Hit
NevGold completed an upsized C$42.2M brokered financing to fund its Limousine Butte and Nutmeg Mountain projects, targeting a maiden antimony-gold MRE in Q2 2026. Drill results at Limousine Butte include 1.93 g/t gold equivalent over 100.6 m with 1.11% antimony, while metallurgical tests deliver up to 99% gold recovery.
1. Financing Upsized to C$42.2M
NevGold closed a brokered private placement upsized to C$42,225,497 through the sale of 22,223,946 shares at C$1.90 each, with Clarus Securities as sole agent. The financing is expected to close on or about May 12, 2026, and proceeds will advance the Limousine Butte and Nutmeg Mountain programs, working capital and general corporate purposes.
2. Drill Intercepts and Metallurgical Recoveries
April drilling at Limousine Butte returned oxide antimony-gold intercepts including 1.93 g/t gold equivalent over 100.6 m from surface, with a 1.11% antimony interval over 6.1 m. Subsequent metallurgical tests on historical leach pad material achieved gold recoveries of 93%–99% after antimony extraction rates of 54%–92%, confirming a sequential antimony leach and gold recovery process.
3. Maiden MRE and Antimony Production Outlook
NevGold targets a maiden NI 43-101 resource estimate at Limousine Butte in Q2 2026 and aims to commence antimony production by 2027 via reprocessing historical leach pads without new mining. The project benefits from a U.S. Bureau of Land Management-approved plan covering 68 km² and up to 200 acres of disturbance over ten years.