Nagambie listed in 2006 to explore around the former namesake mine in rural Victoria, which produced about 134,000oz of gold from open pits between 1989 and 1995.
Southern Cross Gold has a 10% stake in the company, which grants it a right of first refusal over a 3,300km2 tenement package.
Earlier this month Nagambie confirmed Costerfield-style antimony-gold mineralisation at its Nagambie Mine in Victoria with all four diamond holes hitting massive stibnite veining, including pieces of solid, near 100% stibnite.
NAG executive chairman Mike Trumbull said at the time the delineation of the C1 and C2 massive stibnite veins is “undoubtedly the most exciting development in the company’s history”.
“The structural explanation that we have developed for these N to NNW striking veins suggests that the total number of C veins at the Nagambie Mine could be a very large number.”
