Once pass income comes on stream then combined with these projects below should make for interesting times
Clonbinane
As previous post Gold Discovered at Wandean
Gold Discovered at Wandean
Nagambie Mining announced on 22nd February, 2013 the discovery of gold mineralised sandstones at its Wandean Prospect, just 4 km north of Nagambie in central Victoria. A recently completed RC drill program returned 1 metre @ 1.6 g/t gold in WRC09, 3m @0.91 g/t in WRC10, 3m @ 1.14 g/t in WRC11, 1m @ 1.59 g/t in WRC12 and 2m @ 1.28 g/t gold in WRC18, and is open to the east.
The Wandean Prospect came to the attention of Nagambie Mining through researching historical exploration reports – the area had been subject to soil sampling by Metex Exploration in 1996 which outlined 2 parallel gold-arsenic soil anomalies. Follow-up mapping by Exploration Management Services showed the presence of a significant E-W reverse fault which had disrupted folded Devonian sediments in much the same fashion as at the Nagambie Mine. Rock chip sampling showed concentrations of arsenic, antimony, and gold assays returned up to 2.86 g/t in a silicified sandstone.
EMS designed and implemented an RC drill program for Nagambie Mining in December 2012. The Company is
RC Drilling at Wandean
continuing exploration with extensions to the soil sampling and further RC drilling.
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Nagambie Mining Ltd (ASX code: NAG):
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Location:
Surrounding Nagambie in central Victoria
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Regional Geological Setting:
Siluro-Devonian aged sediments have been faulted and folded by regional south directed thrusting
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Target Metals:
Gold
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Mineralisation setting:
Folds developed in foot-walls and hanging-walls of reverse faults (wide zones of north-dipping shearing) leading to the development of planar and stockwork quartz veins within the fold axes, and in the E-W striking shear zones. Gold also occurs as disseminations within favoured sandstone units, in association with arsenopyrite and stibnite.
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Target size:
0.1 to 1 million ounces at 1 to 2 g/t gold
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Exploration History:
Large open pit worked in the 1990s with near mine drilling. Little modern exploration outside the Mining Lease prior to Nagambie’s involvement.
Soil sampling on regional and prospect scale
AirCore drilling to basement and RC drilling of soil anomalies
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Exploration Tools:
Soil sampling, AirCore drilling, RC drilling
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Significant Outcomes:
Soil sampling has generated targets for testing by AirCore drilling. One target (Nagambie North) shows significant AirCore anomaly in basement rocks with strike in excess of 2.3 km
Wandean mineralisation – Strong gold intersections to 20 gm/t at shallow depths (<10 metres) and long runs of intersections with gold grades exceeding 1 gm/tonne in RC drilling to 60 metres depth.
Soil geochemical anomalies developed at Nagambie South, and Nagambie East ready for testing by AirCore drilling
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Potential:
3 to 5 small scale open pits of +100,000 ounces in ground suitable for heap leach operations
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Status:
Continuing exploration.
Redcastle Project (Central Victoria)
Nagambie Mining Ltd (ASX code: NAG):
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Location:
45 km east of Bendigo in central Victoria
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Regional Geological Setting:
Folded Devonian aged sediments have subsequently suffered regional south directed reverse faulting
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Target Metals:
Gold
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Mineralisation setting:
Folds disrupted by faults, both oblique and parallel to fold axes leading to the development of planar and stockwork quartz reefs. Gold also occurs as disseminations within favoured sandstone units, in association with arsenopyrite
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Target size:
0.5 to 1 million ounces at 1 to 2 g/t gold
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Exploration History:
Historic workings with minor production from high grade reefs. Some cursory drilling in the past by small companies
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Exploration Tools:
Trench mapping and sampling, structural mapping and interpretation prior to RC drilling
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Significant Outcomes:
Identification of 3 structural domains across the goldfield, each with individual gold mineralisation style. Recognition of parallel-oblique structural settings as faults cross anticlines
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Potential:
3 to 5 small scale open pits of +100,000 ounces in ground suitable for heap leach operations
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Status:
Continuing exploration.
NAG Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
