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New Listing: NevGold Corp (TSXV:NAU)

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NevGold’s property portfolio consists of the Ptarmigan project in southeastern British Columbia, which belonged to Silver Mountain Mines, and the Limousine Butte and Cedar Wash projects in Nevada, recently acquired from McEwen Mining.

Additional Information:

Company: NevGold Corp .
Website: http://www.nev-gold.com
Stock Symbol: TSXV; NAU
Date Published: Jun 29, 2021
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

NevGold Corp is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “NAU”, following its reverse takeover of Silver Mountain Mines.

The company’s property portfolio consists of the Ptarmigan project in southeastern British Columbia, which belonged to Silver Mountain Mines, and the Limousine Butte and Cedar Wash projects in Nevada, recently acquired from McEwen Mining.

The Limousine Butte Project has a long history of exploration activity dating back to the 1940’s and 50’s when the area was explored for antimony leading to the discovery of gold mineralization at Golden Butte and later Resurrection Ridge.

It is a Carlin-style deposit and hosts the past-producing Golden Butte mine which produced 91,000 ounces of near surface oxide gold from 1989-1990.

During the years 1997 to 2019 McEwen and its predecessor US Gold compiled the historical data including extensive geologic mapping, soil and rock geochemical sampling, geophysical programs, and drill data into a digital database.

Based on information from a NI 43-101 Technical Report dated 2009, an historical resource estimate of 292,000 ounces of gold at 0.77 grams per tonne gold was produced.

Management cautions that the company has not done sufficient work to classify the historical estimate as current mineral resources and NevGold is not treating the historical estimate as a current mineral resource.

Numerous exploration and resource targets have been identified for drill testing in 2021.

One of Nevada’s newest gold discoveries, Cedar Wash began in 2015 when McEwen Mining began reconnaissance stage exploration in the area.

Drilling by McEwen in 2017 proved the presence of a strong gold mineralizing that closely resembles Liberty Gold’s nearby Goldstrike Project in Utah.

NevGold will build on the early work completed by McEwen to aggressively explore this gold discovery and has 2,500 meters of RC drilling planned.

The Ptarmigan Property is a 9,900 hectare land package located 50 kilometres west of Radium, BC.

A drill hole from 2011 reported 72 g/t silver and 1.94% lead between 53.60 and 62.65 metres, including 120 g/t silver and 3.22% lead between 53.60 and 58.50.

NevGold anticipates advancing the property in 2021/2022 with 2,000 meters of diamond drilling planned.

The company is well funded having recently completed a brokered financing, raising gross proceeds of approximately $6.3 million from the placement of approximately 15.7 million units priced at $0.40 per unit.

Each unit consisted of 1 share and one-half a warrant, with each full warrant exercisable at $0.60 for 24 months.

The shares are trading at $0.40.

Brandon Bonifacio, President and CEO, stated: “We are thrilled to begin trading on the TSX-V with the transaction and financing now completed. We are very pleased with the support from our existing and new shareholder base and the level of interest with a financing that was well over our minimum target. Our team is excited to advance and de-risk our highly prospective, district-scale asset base in Nevada and British Columbia by leveraging our strong operational track record of project development success to deliver value for all of our stakeholders. We have commenced our work programs at the Limousine Butte, Cedar Wash, and Ptarmigan properties and are looking forward to advancing our highly prospective, district-scale asset base in Nevada and British Columbia. Thank you to all of our existing and new shareholder base for the support as NevGold enters the next chapter.”

For more information, please visit the company’s website www.nev-gold.com, contact Brandon Bonifacio, President and CEO, at 604-337-4997 or email investors@nev-gold.com.

I’m Megan Edwards for Investmentpitch Media