Ann: 340 g/t Gold Assay in Nagambie Mine Thrust, page-3

Bring on the JORC


340 g/t gold (Au) over 0.2m downhole from 144.5m in NAD028 is a new record high assay for the Nagambie Mine. The assay occurs 60m vertically below surface within a NAD028 economically-mineable intersection in the Nagambie Mine Thrust (NMT) of 1.21m EHT (estimated horizontal thickness) at 46.0 g/t Au.

• The NAD028 intersection opens the likelihood that the NMT could host high-grade shoots along its known strike length of at least 2.0 km. High-grade shoots along thrust faults is the primary mineralisation model for the Fosterville Mine.

• The 40 economically-mineable intersections (or potential stopes) to date have a weighted average of 3.7m downhole, 1.6m EHT and 14.5 g/t AuEq (gold equivalent) (5.4% Sb (antimony) plus 4.7 g/t Au).

• The average gold-equivalent grade of 14.5 g/t or approximately 0.47 oz/t is very high by industry standards, and 4.8 times the estimated mineable cut-off grade of 3.0 g/t AuEq. This indicates potentially very-low operating cost, very-high operating margin mineralisation.

• The average antimony grade of 5.4% makes the Nagambie Mine underground discovery the highest-grade antimony mineralisation in Australia and one of the highest in the World.

• The calculation of the maiden economically-mineable JORC Inferred Resource for the shallow underground mineralisation, incorporating the 40 intersections to date, is progressing well with anticipated finalisation, sign-off and reporting in the March 2024 quarter.