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Nevgold Corp ( (TSE:NAU) ) has issued an update.
NevGold Corp has commenced its 2025 drilling program at the Limousine Butte Project in Nevada, targeting the Resurrection Ridge and Cadillac Valley areas with a 5,000-meter drill plan. The program aims to establish an initial oxide gold-antimony mineral resource estimate, leveraging a large historical drillhole database and a newly approved Plan of Operations permit that expands exploration potential. The discovery of additional stibiconite outcrops highlights the project’s promising geological prospects, and the company’s strong institutional knowledge positions it well to advance the project amid favorable macroeconomic conditions and U.S. support for domestic mineral projects.
Spark’s Take on TSE:NAU Stock
According to Spark, TipRanks’ AI Analyst, TSE:NAU is a Neutral.
Nevgold Corp’s overall stock score reflects the challenges typical of an exploration-stage mining company, including financial instability due to non-existent revenues and cash burn. However, positive technical indicators and recent promising corporate developments provide some optimism for future growth.
To see Spark’s full report on TSE:NAU stock, click here.
More about Nevgold Corp
NevGold Corp is a mining company focused on exploring and developing gold and antimony projects, particularly in Nevada, a significant mining region. The company’s primary focus is on advancing its Limousine Butte Project, which holds substantial potential for gold-antimony mineralization.
Average Trading Volume: 236,041
Technical Sentiment Signal: Sell
Current Market Cap: C$34.41M
Learn more about NAU stock on TipRanks’ Stock Analysis page.