The Nevada mining sector is experiencing significant developments following NevGold’s announcement about its Limo Butte project. This advanced-stage exploration asset has reported antimony grades reaching as high as 14.9 percent. According to Brandon Bonifacio, the company’s president and CEO, this discovery represents the highest-grade antimony found at the site to date.
Bonifacio remarked on the significance of this find, stating, “We were aware of Resurrection Ridge’s potential for both gold and antimony; however, uncovering the highest-grade antimony interval at the newly identified Bullet zone significantly enhances our prospects for further exploration and development at the site.” This revelation underscores the mineral wealth of the area and indicates a promising future for the company.
Table of Contents:
Continuing exploration efforts
The NevGold team is dedicated to ongoing exploration at Limo Butte. Bonifacio indicated that the company plans to drill an additional 10 to 20 holes before winter, aiming to identify more valuable deposits. Such thorough exploration is crucial for understanding the full potential of this promising site.
Overview of the Limo Butte project
Spanning an impressive 68 square kilometers, the Limo Butte project is located in Eastern Nevada and has a history as a past-producing gold mine. The site benefits from easy access to established infrastructure, including well-maintained gravel roads, reliable water sources, and grid electricity. These features support ongoing exploration and potential future development.
Bonifacio believes the discovery of antimony at Limo Butte could significantly influence the region’s economic landscape. He pointed out that the antimony market has experienced a dramatic transformation, with prices rising from around $10,000 per tonne to approximately $60,000 per tonne within a year. This increase in value highlights the strategic importance of antimony across various industries.
Strategic implications of antimony
Antimony is a critical mineral with essential applications in sectors such as defense, clean energy, and advanced manufacturing. Due to its versatile properties, antimony has garnered attention from governments and industries, leading to its designation as a critical mineral in the United States.
NevGold’s recent discovery occurs at a time when demand for antimony is rising, with applications ranging from flame retardants to battery production. As the market evolves, establishing a reliable supply of this mineral could position NevGold as a significant player, especially given the geopolitical factors affecting mineral supply chains.
Future outlook
The identification of the highest-grade antimony at the Bullet zone of Limo Butte represents a pivotal moment for NevGold. With ongoing drilling efforts and an optimistic outlook for both gold and antimony, the company is well-positioned to make notable advancements in the mining industry. Bonifacio emphasized that the potential for economic transformation is substantial, indicating a promising future for NevGold.
The full interview with Brandon Bonifacio, president and CEO of NevGold, is available for those interested in gaining deeper insights into the company’s vision and the implications of this discovery.
