Streetwise Live! Presents E2 Gold on 09/09/2021. Learn More

Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe


Canadian Explorer Eyes Rapid Resource Expansion at Nevada Project
Research Report

Share on Stocktwits


NevGold's plan to complete a resource estimate update in Q1/22 for Limousine Butte is outlined in a Caesars Report report.

In an Aug. 10 research note, Caesars Report editor Thibaut Lepouttre described NevGold Corp's (NAU:TSX.; NAUFF:OTCMKTS) plan to expand the resource at its acquired, flagship Limousine Butte gold project in Nevada and then, in Q1/22, release a resource size update.

"It should be the company's intention to push towards the 1,000,000 ounce mark in an interim resource update in the next six to nine months," Lepouttre wrote.

Already NevGold is starting with a historical resource at past-producing Limousine Butte of 292,000 ounces of 0.77 grams per ton gold (0.77 g/t) gold.  

Lepouttre noted that NevGold could simply expand the existing resource size about 50–60% by lowering the cutoff grade to around 0.2 g/t, today's standard, from 0.411 g/t, the number used in 2009. Whereas this one change would greatly impact the resource and ultimate project, it would not jeopardize its economics, he added.

Also, the company is well cashed up to explore the Carlin-style Limousine Butte deposit after a June financing generated about CA$5.7 million.

Lepouttre indicated that Calgary-based NevGold intends to commence a 10,000-meter drill program at Limousine Butte as soon as it receives the necessary pending permits, likely in September.

Conducting both reverse circulation and diamond drilling, the company plans to focus initially on Resurrection Ridge, the primary area contained within the current resource. Eventually, NevGold will also drill several nearby, historically drilled targets, including Cadillac Valley and, Coffee Mug, also in the current resource, along with Ticup, Epex and Pony Express.

NevGold is "a story to keep on your radar as the resource expansion at Limousine Butte should be relatively straightforward," Lepouttre wrote.

He pointed out that NevGold's stock has performed well but should be trading above CA$0.60 per share.

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.  
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. 

Additional Disclosure 

Thibaut Lepouttre has a long position in NevGold and the company is a sponsor of the website.

Want to read more about Gold investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe