NevGold raised C$42 million and began a 20,000-metre drill program at its brownfield Limo Butte project, reporting oxide mineralization up to 53.7% antimony and 0.39 g/t gold. The oxide, heap-leachable deposit and brownfield status could enable faster U.S. antimony production, challenging existing suppliers.
NevGold closed an upsized C$42 million private placement in May, bolstering its treasury among junior antimony-gold developers. The company immediately launched a 20,000-metre drill program at its brownfield Limo Butte project, focusing on resource expansion and new discoveries in oxide-hosted material.
Initial assays from the historic crushed leach pad returned 0.32% antimony and 0.39 g/t gold over 14.9 metres, while surface samples from the Pre-Strip Dump graded as high as 53.7% antimony. Prior metallurgical testwork demonstrated up to 99% gold recovery and a processing sequence enabling early antimony leaching.
With no operating primary antimony mines in the U.S., Limo Butte’s brownfield, heap-leachable deposit offers a pathway to faster domestic supply. This project’s potential to achieve near‐term antimony output increases strategic options and could intensify competition for established producers like UAMY.
