NevGold (NAU.V) provided a very brief update last week wherein it confirmed the 10,000 meter drill program on the Limousine Butte project is going as planned. The samples from the initial holes have been shipped to the lab in Reno, and the company is waiting to get the results back. We hope to see some results before Christmas, but we aren’t holding our breath given the lengthy delays labs are still experiencing due to the inflow of samples.
Additionally, the Bureau of Land Management has approved the Notice of Intent for the Cadillac Valley deposit, which will be drilled in the near-term. As you may remember, Cadillac Valley is one of the company’s focus points to rapidly increase the existing 241,000 + 50,700 ounce resource on the greater Limousine Butte project. Cadillac Valley currently hosts a resource of 38,000 ounces.
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