Plan view of Nutmeg Mountain project with current block model. Image via Nev Gold Corp.
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  • NevGold Corp. (NAU) has provided details on its planned development activities at the Nutmeg Mountain Gold Project
  • Nutmeg Mountain hosts a 2020 mineral resource estimate of 910,000 Indicated ounces of gold (43.5 Mt at 0.65 g/t Au) and 160,000 Inferred ounces of gold (9.1 Mt at 0.56 g/t Au)
  • NevGold has begun work on Nutmeg Mountain with a core relogging program and geological model update, which will be followed by a drill program
  • The company has outlined a 12-month work program that includes a 10,000-metre drill program, updating the resource estimate, and advancing to an engineering study on the project by 2023
  • Shares of NevGold are unchanged, trading at $0.58 per share

NevGold Corp. (NAU) has detailed its planned development activities at the advanced stage Nutmeg Mountain Gold Project in southwest Idaho.

Nutmeg Mountain is a near-surface, heap-leach project that hosts a 2020 mineral resource estimate of 910,000 Indicated ounces of gold (43.5 Mt at 0.65 g/t Au), and 160,000 Inferred ounces of gold (9.1 Mt at 0.56 g/t Au) with significant resource expansion and exploration upside.

NevGold has begun work on Nutmeg Mountain with a core relogging program and geological model update, which will be followed by a drill program.

NevGold’s CEO, Brandon Bonifacio called Nutmeg Mountain an extremely promising project with a large resource base that has significant resource expansion potential and exploration upside.

“We see a similar value extraction roadmap at Nutmeg Mountain like we did when we acquired Limousine Butte last year, and we will apply the same technical rigour and discipline to project advancement over the next 12 months. We have identified a clear set of objectives and milestones, and the de-risking of Nutmeg Mountain will be a key part of our valuation re-rate as we also continue to advance and de-risk Limousine Butte. It is shaping up to be an exciting period for the company.”

The company has outlined a work program for the next 12 months inclusive of a 10,000-metre drill program, updating the resource estimate, and advancing to an engineering study on the project by 2023.

Shares of NevGold are unchanged, trading at $0.58 per share.

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