NAG 10.0% 0.9¢ nagambie resources limited

Who will promote NAG’s JORC?, page-21

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    Nagambie Resources (ASX:NAG)

    Gold explorer Nagambie Resources’ share price hasn’t enjoyed the best year to date, but today it rises at least 20% on some welcome news.
    The company has announced a maiden JORC resource for the shallow, high-graded gold mineralisation at its namesake gold and antimony mine in central Victoria.
    Some specifics. The company’s talking an Inferred Resource here, of 415,000 tonnes averaging 11.5g/t gold equivalent and comprising 3.6g/t gold plus 4.3% antimony.
    It also notes that the in-ground metal content of 153,000 ounces gold equivalent, comprises 47,800 ounces gold plus 17,800 tonnes antimony and the average 11.5g/t gold equivalent resource grade is 230% of the mineable cut-off grade of 5.0g/t AuEq.
    This, says NAG, indicates a high-margin orebody at the Nagambie mine, where there are four shallow gold-antimony lode systems all open and at depth.
    Nagambie chairman Tom Quinn described the maiden JORC Resource for the high-grade discovery as a “watershed moment” for the company, adding that “it comes in the context of recent all-time record-high gold prices and strong prices for antimony, an essential metal for military uses and high-performance solar panel manufacture.
    “We are now focused on being able to commence the recommended follow-up drilling program, with our target being to significantly increase the maiden Resource.”

    Still no sign of this news on  Warwick Grigor's Far East Capital Rag
 
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