NAG in June, page-78

Our gold prospects are reassuring JL. The good thing is that thanks to PASS revcenue - we will not uncur any debt in prospecting and producing our gold

On Wandean

"The Company Chairman, Mike Trumbull said: “Nagambie Mining now has two open-pit, heap-leachable gold discoveries, Apollo at Clonbinane and Wandean, to progress to production. There is clear potential for more discoveries to be made in the 100% controlled Nagambie and Clonbinane Goldfields. “In July 2012, we announced that we had ‘cracked the code’ for the Nagambie region and planned to systematically hunt down Nagambie Mine-style gold ore bodies that are amenable to low cost mining and ore treatment. To announce the discovery of Wandean two years later is very gratifying.” ASX ANNOUNCEMENT 17 JULY 2014 NAGAMBIE MINING Nagambie Mining is focussed on the discovery and development of shallow, open-pit and heapleachable gold deposits. The Company controls 100% of tenements encompassing historic Victorian goldfields at Nagambie, Clonbinane, Redcastle and Rushworth. A preliminary Inferred Resource of 47,000 ounces of gold was estimated in 2008 for Clonbinane. Nagambie Mining is testing new structural and mineralisation concepts for gold mineralisation by employing geological, geophysical and geochemical techniques. Nagambie Mining is also pursuing construction material and landfill opportunities at the Nagambie Mine site in order to maximise the value of the freehold land owned by the Company.

The Company Chairman also said: “Nagambie Mining believes that disseminated gold targets such as Wandean and Apollo are far superior to the more typical Victorian nuggetty quartz vein targets that have proven to be very difficult to evaluate, develop and mine profitably. Duplicate samples at Wandean have provided excellent correlation, even at high grades, so the gold is very evenly distributed and we do not have any of the coarse gold problems that occur with Ballarat & Bendigo-style mineralisation. “Nagambie Mining is targeting a total operating cost for Wandean including trucking the oxide gold mineralisation to the Nagambie Mine, 9 km to the south east, for heap leach treatment of A$900 per ounce of gold or less. The Company is targeting a total operating cost for Apollo including trucking the oxide mineralisation to the Nagambie Mine, 60 km to the north via the Hume and Goulburn Valley Freeways, for heap leach treatment of A$600 per ounce of gold or less. “With the gold price trading in the general range of A$1,350 to A$1,550 per ounce over the last year, Nagambie Mining is well positioned to move forward with both Wandean and Apollo.”

On Clonbinane

http://www.nagambiemining.com.au/up...18-Clonbinane-Goldfield-Trenching-Results.pdf