Nevgold Corp Announces Updated Mineral Resource Estimate for Nutmeg Mountain Gold Project in Idaho

Nevgold Corp has unveiled an updated mineral resource estimate (MRE) for its Nutmeg Mountain Gold Project, located in the promising mining region of southwest Idaho. This report highlights an impressive 1.19 million ounces of indicated resources, complemented by 548,000 ounces classified as inferred resources. Notably, the project's higher-grade mineralization is situated close to the surface, presenting a low strip ratio of less than 1:1, which is highly advantageous for open-pit operations.

Over the past two years, the Nutmeg Mountain project has demonstrated substantial growth, with indicated tonnage increasing by over 18% and inferred resources more than doubling since the last MRE in 2023. This growth is bolstered by a shift in focus towards higher-grade mineralization, as the company adjusts its cutoff grades to reflect enhanced resource potential. The geological framework of Nutmeg Mountain, characterized by low-sulphidation epithermal gold deposits, has been meticulously mapped, revealing multiple high-priority drill targets that remain largely unexplored.

CEO Brandon Bonifacio expressed optimism regarding the updated MRE, noting its validation of the project's quality in a tier-one mining jurisdiction. The company's next steps involve conducting metallurgical testwork to facilitate a preliminary economic assessment, as well as further drilling to refine resource estimates and explore additional high-grade opportunities. The favorable macroeconomic backdrop for gold, coupled with the project's strategic positioning, positions Nevgold for significant advancement in the domestic mineral sector.

The Nutmeg Mountain project spans approximately 1,724 hectares and has a history of exploration dating back to the 1980s, with extensive drilling already completed. The geological structure includes a north-trending graben where most mineralization occurs, and ongoing efforts aim to discover additional near-surface disseminated gold and potential high-grade feeder structures associated with the deposit.

As the company continues to develop its resources, it also prioritizes environmental, social, and governance (ESG) practices, exploring alternative energy opportunities to minimize its carbon footprint. With a focus on sustainability, Nevgold is assessing possibilities for geothermal, solar, and wind energy projects in proximity to Nutmeg Mountain, aiming to align with contemporary environmental standards while advancing its operations.