Nagambie Mining (ASX: NAG) is delighted to declare Wandean, 9 km north west of the Nagambie Mine, a virgin gold discovery following the receipt of assays from the latest drilling program. Wandean now shown to host continuous gold mineralisation grading better than the target average grade of 1.0 g/t gold for economic heap leach treatment at the Nagambie Mine. The mineralisation remains open to the east. 37.8 g/t gold intersected (36.4 g/t repeat), the highest gold grade to date for Wandean and more than double the best oxide gold assay recorded at the Nagambie Mine in the 1990s of 16.3 g/t gold. Some of the better oxide intersections for the latest exploration drilling program at Wandean are: 5m at 11.4 g/t gold from 53m down hole (including 3m at 18.7 g/t from 53m and 1m at 37.8 g/t from 54m) in drill hole WRC 101; 13m at 1.74 g/t from 20m (including 4m at 3.3 g/t from 24m) in WRC 58; 10m at 1.50 g/t from 39m (including 4m at 2.4 g/t from 40m) plus 7m at 1.93 g/t from 58m (including 3m at 3.2 g/t from 59m) in WRC 56; and 10m at 1.71 g/t from 27m (including 4m at 3.1 g/t from 30m) in WRC 61. The gold mineralisation is closely associated with subvertical zones of silicified mudstones and sandstones in the saprolite weathered zone. Very encouraging preliminary gold leach results augur well for Wandean heap leach gold recovery.
NAG Price at posting:
4.4¢ Sentiment: Buy Disclosure: Held
