![]() It also expects to move a drill rig to Limo Butte in Nevada to start the Phase 2 drill program. NevGold expects the drill results from Nutmeg Mountain to be released in three to four news releases between March 1 to June 1. Technical analyst Clive Maund rated NevGold an immediate strong Buy for all timeframes. In the same month, the company received a Notice of Intent permit to drill the federal BLM claims on Nutmeg Mountain. On January 12, 2022, the company moved a drill rig to Nutmeg Mountain and started its drilling program. NevGold has a number of short-term catalysts to report. Investors have turned to gold as a solution to the unstable market, though these recent inflows are not yet enough to overpower negative flows for the quarter.Ĭentral banks are also continuing to buy up gold as the economy wobbles. The quantity of the aboveground stock of gold increases at approximately the same rate as the world's population and new wealth creation."Īccording to Reuben Adams with Stockhead, the collapse of several banks earlier this year has caused a net inflow for physically backed ETFs. It does this because gold is natural money. The quantity of the aboveground stock of gold increases at approximately the same rate as the world's population and new wealth creation."Īnalyst James Turk of Goldmoney, when speaking on his career during the financial crisis of the 1970s, said, "Gold preserves purchasing power over the long term. Analyst James Turk of Goldmoney said, "Gold preserves purchasing power over the long term. Gold has long been regarded as a safe haven for investors in times when confidence in the economy is unstable. We are excited to leverage this new oriented core data and our understanding of the stratigraphy to continue to quickly add gold resource ounces." Why Gold? More drill results will be released over the coming months.Īccording to Unger, "It is also noteworthy that this is the first drill program on the project to use oriented core, a technology that is essential to understanding the structures that control the gold mineralization. The drill program is running on schedule and according to budget.Mineralization is open in all directions, and the company plans for further drilling in this area of the project. A step-out at a distance of 140m away from the nearest drill collar intercepted anomalous mineralization at 4.6 meters depth, and continued to 93.6m depth, with 0.43 g/t Au. Hole NMD002 indicates open, near-surface mineralization along strike.NevGold reports that the type of quartz found indicates a potential high-grade feeder structure at depth. The hole intercepted large vein/breccia zones at 251m and 469m of depth in a previously untested area of Nutmeg Mountain. At Hole NMD003, the company discovered high-grade potential at depth.The company reports that mineralization started at the surface. At Hole NMD001, it found 0.56 g/t Au over 23.9m from 24.1m of depth, including 0.89 g/t Au over 11.4m from 25.6m of depth, with 4.33 g/t Au found at the bottom of the hole. This includes 2.32 g/t Au over 13.4m at 25.6m of depth (heap leachable). The company found 0.72 g/t gold (Au) over 79.3m at 10.4m of depth (heap leachable). At Hole NDM003, the company found high-grade, heap-leachable gold intercepted from the surface.These initial results are promising, as they may indicate growth potential for the Nutmeg Mountain project.Īccording to Derick Unger, the vice president of exploration, the "first drill holes at Nutmeg Mountain exceeded our expectations and demonstrate that the project hosts a strong, continuous gold system that starts essentially at surface." The highlights of the results are as follows: In 2020, the site was estimated to contain 910,000 indicated ounces of gold, as well as 160,000 inferred ounces of gold. NevGold has announced assay results from its high-grade, heap-leach gold Nutmeg Mountain project in Idaho. NevGold is a Canadian-based mineral exploration and development company with four properties: Nutmeg Mountain in Idaho, Limousine Butte and Cedar Wash in Nevada, and Ptarmigan in British Columbia. The company has promising results from its efforts regarding heap-leach gold that indicate significant mineralization beginning nearly directly from the surface. (NAU:TSX.V NAUFF:OTC 5E50:FSE) has announced assay results from its Nutmeg Mountain project in Idaho.
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