Nagambie Resources recommences drilling of high-grade gold-antimony resource

Nagambie Resources Limited (ASX:NAG) has announced the recommencement of diamond drilling of the shallow high-grade gold-antimony orebody at the 100%-owned Nagambie Mine, scheduled to begin in early November 2024. The Company aims to expand the Nagambie Mine gold-antimony JORC Resource and has secured a diamond drilling rig for this purpose.

Nagambie Chairman's perspective on the recommencement of drilling

Nagambie Chairman, Kevin Perrin, expressed his delight regarding the recommencement of diamond drilling of the shallow, high-grade gold-antimony sulphide orebody. He highlighted the exceptional 'walk-up' drill target within the company's freehold land and granted Mining Licence. Additionally, he mentioned the planned construction of a Stage 2 antimony-sulphide plant by the Nagambie Joint Venture between Golden Camel Mining and the Company, which adds considerable upside to Nagambie's future value.

Summary of Nagambie Resources' announcement

Nagambie Resources (ASX:NAG) is set to expand its Nagambie Mine gold-antimony JORC Resource through the recommencement of diamond drilling. The Company has secured a diamond drilling rig and plans to periodically announce progressive increases to the JORC Inferred Resource as each drillhole intersection is obtained. The shallow gold-antimony lode systems included in the maiden Resource are open at depth and along strike within Nagambie's freehold land and Mining Licence. The planned construction of a Stage 2 antimony-sulphide plant by the Nagambie Joint Venture adds considerable upside to Nagambie's future value. The Chairman's positive outlook on the drilling recommencement and the potential value addition through the construction of the Stage 2 plant reflect the company's ambitions and goals for future growth and development.