Nagambie Resources (ASX:NAG) Advances High-Grade Antimony-Gold Project with Expansion Plans

3 min read | March 04, 2025 01:25 PM AEDT | By Team Kalkine Media

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Nagambie Resources (ASX:NAG) Advances High-Grade Antimony-Gold Project with Expansion Plans — Image source: shutterstock

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Highlights

Nagambie Resources (NAG) progresses its Antimony-Gold Project at Nagambie Mine.

Recent resource updates show a significant increase in estimated gold equivalent ounces.

Plans underway for a 300,000 t/a processing facility in collaboration with Golden Camel Mining.

Nagambie Resources (ASX:NAG) is making strides in advancing its high-grade Antimony-Gold Project at the 100%-owned Nagambie Mine in Victoria, Australia. Focused on epizonal gold and antimony mineralized systems across a vast 1,000 sq km tenement package, the company is accelerating its exploration and development activities to unlock further value.

Steady Growth in Resource Estimates

Nagambie Resources has achieved notable progress in its drilling and resource estimation efforts. The company completed an extensive initial drill program in October 2023, comprising 41 diamond drill holes covering a total of 12,000 meters at an efficient cost of $139 per meter. This work culminated in the release of a maiden JORC Inferred Resource in May 2024, reporting 322,000 ounces of gold equivalent (AuEq) at a grade of 18.6 g/t.

Further updates in July and November 2024 confirmed a remarkable 110% increase in total gold equivalent ounces. With ongoing drilling campaigns, Nagambie Resources aims to expand its Mineral Resource Estimate (MRE) significantly, reinforcing its position as a key player in Victoria’s gold and antimony sector.

Advancing Project Development

A significant milestone for Nagambie Resources has been securing a Mining Licence and necessary permits to establish a toll processing plant at the Nagambie Mine site. In collaboration with Golden Camel Mining Pty Ltd, the company is set to develop a 300,000-tonne-per-annum processing facility. With essential infrastructure already in place, construction is poised to begin as soon as funding is secured.

The upcoming facility will play a critical role in enhancing operational efficiency and unlocking the full potential of the company’s growing resource base. The joint venture structure provides strategic advantages, positioning the project for long-term success.

Strategic Roadmap for 2025 and Beyond

Over the next year, Nagambie Resources plans to continue aggressive drilling campaigns to further expand its JORC Inferred Resource. Additionally, the company aims to secure approvals for an exploration decline, marking a crucial step toward underground development. A project scoping study is expected to commence in Q4 2025, laying the groundwork for future production planning.

With strong momentum and strategic partnerships in place, Nagambie Resources (NAG) remains focused on delivering growth, increasing its resource base, and advancing towards production in one of Australia’s most prospective gold and antimony regions.

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