Ann: Antimony-Gold Mineable Intersections Increased to 18, page-14

@omero54

''3.Economic analysis: Once the laboratory test results are available, an economic analysis is conducted to determine the viability of mining the deposit. This analysis takes into account factors such as the estimated size and grade of the deposit, the cost of mining and processing the ore, and the market price forgold and antimony.

In advanced progress''


NAG's MCOG (Mineable Cut Off Grade) currently stands at 5.5 and the POG is currently about A$2850 with a bullish outlook. NAG - along with Golden Camel - have a permit to build and operate a treatment plant/toll mill in situ. This adds up to a very cost effective production/mining cost.

Let us not forget that we have a mining licence, so all NAG need now is to establish the size of the deposit and maintain those high gold and antimony grades.

From the last announcement

Nagambie Resources’ Executive Chairman, Mike Trumbull, commented: “It is important to note that the grades
reported by Nagambie for all the mineable intersections (18 to date) allow for waste dilution. The constraints of
mining equipment mean that the minimum horizontal width that can be effectively stoped (mined) is 1.2m. Hence,
any mineralised intersections narrower than that are bulked out with waste rock up to 1.2m, reducing the average
grade accordingly. The actual grade of the vein or veins within the minimum 1.2m may be considerably higher.
This method of reporting gives a much more meaningful indication of the actual grade and tonnage that could be
mined, as opposed to simply reporting the downhole lengths of mineralised samples and the assays for those
samples.
“The C-vein systems being discovered and drilled out at Nagambie’s 100%-owned Nagambie Mine are
geologically very similar to the antimony-gold vein systems at the Costerfield Mine, 45 km west of the Nagambie
Mine. For more technically-minded Nagambie shareholders interested in Costerfield, I would refer them to the
latest publicly-available comprehensive technical report for that mine:
https://mandalayresources.com/site/assets/files/3408/mnd_costerfield_ni-43_101_technical_report_2022.pdf
“The Nagambie veins discovered to date are sub-vertical (45 degrees to 90 degrees (vertical)) and have good
continuity, both vertically and horizontally. As such, they could be amenable to mechanised, productive mining
methods similar to those employed at Costerfield.

“Conceptual mine planning for a Nagambie underground mine already indicates that, mining only the C1 & C2
vein systems, sufficient stopes could be developed to effectively schedule stoping operations and optimise the
antimony and gold grades delivered to a flotation treatment plant. Such a plant could be constructed besides the
currently planned oxide-gold plant. Nagambie’s ongoing drilling program