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NAG - Nagambie Resources

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springhill

springhill

Make the drill work for YOU
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Nagambie has several targets at the Redcastle tenemant, a second stage costeaning project was completed and that several open pits of heap-leachable oxide mineralisation containing 1-2g/t Au may be sustainable.
A first phase 4300m first phase drilling program, comprising 54 holes has been planned at Redcastle.
Further info can be gleaned from the quarterly here,
http://www.asx.com.au/asxpdf/20100730/pdf/31rmwswbg7365z.pdf

MC $9.2m
Current SP 2.5c
Shares on Issue 169m
12mth High/Low 4c/2.1c
Cash at Hand $788k
Expenses this Quarter $260k
 
Re: NAG - Nagambie Mining

It looks as though NAG have been struggling to fill the allotted shares available as part of their SPP, they have extended the date until 19th of April. The extension is intended to allow shareholders further time to consider the Offer following the announcement of positive soil sample assay results on 4 April 2013.

For NAG to propose that values of 45ppb Au and previous drill results of between 1-3m @ 0.91-1.6g/t Au is going to entice shareholders to participate in an SPP that they have already shown no interest in, is drawing a long bow in my opinion.

April 4
WANDEAN POTENTIAL GROWS
● As announced in February 2013, a first-pass RC drilling program at Wandean discovered Nagambie Mine-style gold mineralisation in the two eastern traverses, both north and south of the interpreted Wandean Thrust.
● A soil sampling program was subsequently carried out to test for indicated extensions of the gold mineralisation to the east and the north east.
● Highly anomalous soil sample results received indicate strong eastward continuity of the gold mineralisation to the south of the interpreted Wandean Thrust.
● The strongest gold-arsenic-antimony soil results occur 655 metres east of the drilled gold mineralisation and indicate that the mineralisation may become significantly wider to the east.
● Additional soil sampling to extend the east-west trending gold anomaly further to the east will now be carried out before planning a focussed, second-pass RC drilling program.

Maximum values of 45 ppb (parts per billion) gold, 5,121 ppb arsenic and 4,481 ppb antimony were returned within a very well defined trend of mineralisation that is parallel to the interpreted Wandean Thrust. To discriminate between geochemical background and values indicating sub-surface mineralisation, threshold values for anomalous readings were statistically calculated and applied to give anomaly factors for each of the three pathfinder metals (gold, arsenic and antimony), and to produce a combined Anomaly Factor.
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 (previously reported 1 metre @ 1.6 g/t gold in WRC09, 3m @ 0.91 g/t in WRC10, 3m @ 1.14 g/t in WRC11 and 1m @ 1.59 g/t in WRC12), and is open to the east.
 
Re: NAG - Nagambie Mining

138% rise in a couple of days - don't get too excited. It was only 0.022c when it came out of a trading halt on Monday. It was announced that 21.1 grams per tonne (g/t) gold intersected at Wandean, the highest gold grade ever for the Nagambie region. The previous best oxide gold assay was 16.3 g/t gold at the historic Nagambie Mine in the 1990s. More details can be seen by clicking on the link;)

The report can be read here:- http://stocknessmonster.com/news-item?S=NAG&E=ASX&N=401065
 
Re: NAG - Nagambie Mining

Directors execute option Thursday @ 10c. Currently <7c.
Will we see a jump in SP as a result?
 
On December 8th, 2015, Nagambie Mining Limited changed its name to Nagambie Resources Limited.
 
Nagambie Resources has been having a good run for the last couple of weeks but there has been no news since 22 March.

I'm surprised they haven't received a speeding ticket from the ASX.

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How quickly things change. Nagambie Resources dumped today after the release of their Quarterly Report.

The issue seemed to be disappointment with the NAD001 drill hole at the Nagambie Mine due to the angle it was drilled at. There may be other concerns that I'm not aware of.

NAG had been drifting sideways and down for more than three months before today's big slide. Volume was not too high today with only around 800,000 share traded, so I suspect that the sell off may have been an overreaction and there's a reasonable chance of a short term recovery.

Nagambie finished the day down 31.25% at 11c, with an intraday low of 9.1c.

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Get the squeeze on Nagambie Resources NAG
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Results from this hole include 0.5 metres at 16.5 grams of gold per tonne (g/t) from 201.5 metres, 0.6 metres at 49.7 g/t gold from 324.9 metres and 0.2 metres at 0.2 g/t gold and 16.5 per cent antimony from 359.6 metres.

Under the JV with Nagambie, Mawson Gold is earning up to a 60 or 70 per cent interest in the Whroo JV Property.

So far, it has spent $400,000 on exploration and paid NAG $100,000 for a zero per cent interest. To earn a 25 per cent interest, it will spend a further $500,000 on exploration and pay Nagambie another $50,000 in cash before December 2, 2022.

Nagambie shares were trading flat at 5 cents...
 
Might be just because it's closeish to SXG. Nothing else going on that I can see apart from getting their annual report in late...

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