Nagambie Mining Ltd (ASX code: NAG):
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Location: |
5 km east of 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 footwalls and hanging walls of reverse faults (wide zones of north-dipping shearing) leading to the development of planar and stockwork quartz reefs within the fold axes, and in the E-W striking shear zones. Gold also occurs as disseminations with favoured sandstone units, in association with arsenopyrite |
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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. Virtually no modern exploration outside the Mining Lease prior to Nagambie’s involvement. Soil sampling on regional and prospect scale AirCore drilling to basement
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Exploration Tools: |
Soil sampling, AirCore 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 |
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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. |
