General Precious Metals
Nevgold Corp. (TSX-V: NAU)(OTC: NAUFF) CEO Brandon Bonifacio on Imminent Drill Results & Building a Million Ounce Gold Base In Nevada
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president and CEO of NevGold, Mr. Brandon Bonifacio. Brandon, how are you today?
Brandon Bonifacio: I'm good. Thanks, Gerardo. How about yourself?
Gerardo Del Real: I'm excellent. It's been a heck of a day. Strong performance in the precious metal space. The gold price is firming up. The silver price is firming up. You had some news that I was delighted to read. Anytime I read that the first batch of assays will be released imminently once fully received, and I see that sentence followed by another one that says, "The core from the newly drilled holes is observed to be strongly oxidized." Again, we always want assays. We want the numbers, and that's going to be what that is. But I'd rather have that oxidation than not have that. Can you provide us a brief update on the drill program, the second rig, and when we can expect those assays?
Brandon Bonifacio: Yeah, it's very exciting. Our drilling program started last October with a core rig. We sent the core to the lab last November. We're seeing expected turnaround times with the assay lab in Reno, Nevada. And just as of yesterday, we added a second drill rig on the site. From an assay release standpoint, that is tracking towards the end of the month, and we're looking to release approximately four to five of the initial core holes we completed. And subsequent to that with both rigs on-site actively drilling, that will afford us the opportunity to have a lot of steady news subsequent to this first release that's tracking to the end of the month. So, very exciting times for the company.
Gerardo Del Real: And when you say lots of news, we're talking ... It's a current 10,000 meter drilling program. You look like you're hitting the sweet spot here in 2022 with gold and silver firming. Walk me through the next couple of months. Obviously, the goal of the company is to become a multimillion ounce gold company. We've talked at length in the past. If you're able to achieve even half of that in Nevada, you're going to get a pretty healthy premium from today's levels. How are things looking on that front?
Brandon Bonifacio: Yeah. I think first I'll comment on the macroeconomic gold-silver fundamentals. It's great to see what's occurred since the start of the year in the precious metal space. But I think as a company, you need to continue to drive to your key object that you set. And as we've discussed in the past, most important for us is really delineating and tracking towards a multimillion ounce near term, near surface oxide gold resource.
And from a program standpoint, we have a 10,000 meter drill program earmarked. This first initial batch of assays will be approximately 1,000 to 1,500 meter release. As you can imagine, another 8,000 to 8,500 meters of drill assays to release subsequent to this initial release ... that will afford us that steady news going forward. And I think that's what makes the story exciting. If we can continue to show what we're seeing from a near surface oxidized gold resource, that will drive that valuation rerating in the marketplace. And that's really what we're trying to drive towards as a company from a key milestone or key objective standpoint.
Gerardo Del Real: Excellent. What's the rest of the year look like?
Brandon Bonifacio: Really, the focus is that 10,000 meter program at Limousine Butte. We obviously have our two very interesting exploration assets, which are being worked on in parallel. But I'd say from a material technical standpoint, that 10,000 meter program over the balance of quarter one and quarter two will be key for the company from the valuation standpoint. And we're actually taking a refreshed approach at the Limousine Butte project. We're testing areas that have never been tested before. We've refreshed the geological model and our view of what that geological model is. There's some very interesting holes that we've drilled and that we will continue to drill going forward. That affords us the opportunity to potentially drive to that million ounces and beyond. Some of those other areas are what really is going to drive the story to that multimillion ounce near surface oxide category.
Gerardo Del Real: I'm glad to hear the core looks good. I hope the assays match it. I'd love to have you back on as soon as we get some numbers to talk about.
Brandon Bonifacio: Thanks, Gerardo. Looking forward to being on very shortly as well.
Gerardo Del Real: Appreciate the update, Brandon. Take care.