Nagambie Mining (ASX:NAG) has discovered gold mineralisation following first-pass reverse circulation drilling at the Wandean prospect in Victoria.
Nagambie holds over 500 square kilometres of exploration tenements in central Victoria, encompassing the historic goldfields at Nagambie, Redcastle and Rushworth.
A first-pass 20-hole reverse circulation drilling program was completed at the end of December 2012. Four north-south traverses were drilled, each of 5 holes with the north-south spacing between holes being nominally 25 metres.
The first pass drilling intersected Nagambie Mine-styel gold mineralisation in the two eastern traverses, both norht and south of the interpreted Wandean Thrust.
Mineralisation is completely open to the east and covered by Nagambie's tenements.
The Nagambie Goldfield is now shown to host multiple zones of mineralisation related to multiple east west mienralising thrusts.
Wandean is 9 kilometres north west of the Nagambie Mine in EL 5430 and had never been drilled before.
Previous rock chip samples taken by Nagambie Mining during roadside mapping of
outcrop at the western end of the Wandean target gave very positive results with a best gold assay of 2.86 grams per tonne gold obtained from a group of strongly quartz-veined and brecciated sandstones over an area of 20 metres by 25 metres.
At the Nagambie Mine, the primary host rocks were sandstones and siltstones and the average mined grade was 0.8 g/t gold.
The 2.86 g/t gold sample also recorded 1,280 parts per million antimony. In addition, arsenic values greater than 500 ppm were returned from 3 samples, with a maximum value of 1,210 ppm.
Arsenic (from arsenopyrite) and antimony (from stibnite) are primary indicators of Nagambie Mine-style gold mineralisation.
The company plans to locate all the mineralised sections of all the east-west thrusts over time utilising aeromagnetics, soil sampling and aircore drilling.
Second-pass drilling at Wandean will include at least several holes to better test the sandstone bedding to the east of the 2.86 g/t rock chip sample.
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