EQS-News

Nevgold Corp.: The target for 2023 is 3 million ounces of gold

Issuer: Goldinvest Consulting GmbH / Key word(s): Drilling Result/Miscellaneous Nevgold Corp.: The target for 2023 is 3 million ounces of gold 02.02.2023 / 10:25 CET/CEST The issuer is solely responsible for the content of this announcement. The gold price has started 2023 with an extremely strong run and many market observers believe that a further rise towards the USD 2,000 per ounce mark is possible this year after a consolidation phase. One company that wants to benefit from this development with its flagship projects in the U.S. states of Nevada and Idaho is Canada's Nevgold Corp. (WKN A3CTE1 / TSXV NAU), whose stated goal is to have delineated resources of around 3 million ounces of gold by the second half of 2023!

Nevgold aims to do this by increasing historic resources at its Limousine Butte (Nevada) and Nutmeg Mountain (Idaho) projects through aggressive drilling programs - and the drills are already turning!

The start has already been made at Nutmeg Mountain, a property that Nevgold acquired from GoldMining only last summer. The project, which has historical resources of 910,000 ounces of gold in the indicated category and 160,000 ounces in the inferred category, is scheduled to be drilled in 2023 for a total of about 3,500 meters. The company is focusing on oxide gold deposits located near surface, and according to CEO Brandon Bonifacio, it should not be difficult to expand the known (historical) resources to more than 2 million ounces of gold.

Important exploration permit obtained

As Bonifacio explained, there are still numerous targets that have not yet been drilled, with the help of which he believes he can extend the known mineralization both laterally and at depth. All the more so, as an exploration permit has just been obtained from the authorities, allowing Nevgold to now also explore unpatented claims of the property. This is important because 85% of the historical 2020 resource is located on patented claims and other private land, while many of the targets mentioned are located on the unpatented claims. As mentioned, drilling is already underway and Nevgold expects to send the first samples to the lab in the immediate future.