Nagambie Resources Limited (ASX:NAG)

$0.016, Market Cap of $12 Million.

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Description

Nagambie Resources Limited (ASX:NAG) is an exploration and development company targeting epizonal-style, high-grade antimony and gold mineralisation across its 1000 sq km contiguous tenement holding in the Waranga Domain of the Melbourne Structural Zone in northern central Victoria, Australia. These tenements are located near the gold-antimony mines at Fosterville (Agnico Eagle) and Costerfield (Mandalay Resources).

Nagambie Resources Limited explores for and develops gold and related minerals, and construction materials in Australia. The company’s flagship property includes 100% owned the Antimony-Gold project located at the Nagambie Mine.

The 100%-owned Nagambie Mine sits within the extensive tenement holding. Production of 123,000 ounces of gold from two open pits (the East Pit and the West Pit) occurred at the Nagambie Mine in the early 1990s. Gold mineralization mined in the pits is structurally controlled and occurs in E-W striking thrust faults (or shear zones) associated with a parallel-striking central anticline.

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