NevGold defined a maiden resource at Limousine Butte in Nevada: 77,700t antimony, 1.38Moz gold. The US seeks to reduce reliance on China for antimony.
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NevGold Corp. (TSXV: NAU) (OTCQX: NAUFF) (Frankfurt: 5E50) defined a maiden mineral resource estimate at its Limousine Butte project in Nevada, the company said July 15. The resource holds 77,700 tonnes of antimony and 1.38 million ounces of gold across measured, indicated and inferred categories.
Antimony is classified as a critical mineral by the U.S. Department of the Interior. The United States has not produced refined antimony in significant quantities for decades. China accounts for roughly 70% of global mine production. When China imposed export licenses on antimony in September 2024, prices surged. The U.S. Department of Defense listed antimony as a priority mineral under the Defense Production Act and awarded grants to support domestic production. The Defense Logistics Agency has also been building a strategic stockpile of antimony.
The Limousine Butte resource includes 29,600 tonnes of antimony in the measured and indicated category at 0.26% antimony, plus 48,100 tonnes inferred at 0.18%. Gold totals 181,400 ounces indicated at 0.37 grams per tonne and 1,203,500 ounces inferred at 0.32 g/t. The deposit is oxide, which typically allows for lower-cost processing. The project is in the Battle Mountain mining district in central Nevada, near existing roads and power lines.
NevGold said the scale of the resource makes it one of the largest antimony deposits defined in the United States. The company has not released a preliminary economic assessment or production timeline. The resource is open at depth and along strike, the company said.
Antimony is used in ammunition and infrared sensors. It hardens lead and is essential to flame retardants. The U.S. military considers it a strategic material with no easy substitute for many applications. A domestic source of antimony reduces supply-chain risk for defense manufacturing.
The Stibnite project in Idaho, owned by Perpetua Resources, is the only other advanced antimony development in the United States. NevGold's Limousine Butte resource, if it advances to production, would add to the domestic supply base. The company has not disclosed a timeline for a preliminary economic assessment.
The resource estimate was prepared by a qualified person under NI 43-101. NevGold trades on the TSX Venture Exchange under the symbol NAU and on the OTCQX under NAUFF.
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