Nagambie Mining (ASX:NAG) has reaffirmed the gold potential at its Wandean project in Victoria following soil sampling program indicating the continuity of gold mineralisation.
The Company has received assay results for its recently completed 60 sample soil geochemistry program that was designed to extend the surface indications of gold and associated arsenic and antimony mineralisation indicated by historic soil sampling data.
It was also confirmed by reverse circulation drilling late last year with maximum values of 45 parts per billion (ppb) gold, 5,121 ppb arsenic and 4,481 ppb antimony returned within a very well defined trend of mineralisation that is parallel to the interpreted Wandean Thrust.
The Indicated Trend of mineralisation extends for at least 655 metres east of the gold mineralisation located in the RC drilling south of the interpreted Wandean Thrust
Nagambie Mining is planning further soil sampling to the east to determine the limits of this anomalous surface geochemistry, to be followed by focussed RC drilling to test for sub-surface gold mineralisation.
It had a cash balance of just over $1 million at the end of last quarter.
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