Key points
- Notable new antimony-gold intersections under the West Pit at the Nagambie Mine
- Discovery of new antimony-gold veining approximately 130m east of the C1E Vein
- Nagambie became a member of the Defence Industrial Base Consortium (DIBC)
Full summary
Nagambie Resources reported notable new antimony-gold (Sb-Au) intersections under the West Pit at the Nagambie Mine, including 24.7 g/t AuEq over 1.26m and 19.8 g/t AuEq over 1.2m. Further assays are pending. The company also announced the intersection of visually significant stibnite veining approximately 130m east of the C1E Vein, which could significantly increase gold equivalent ounces per vertical metre. Nagambie became a member of the Defence Industrial Base Consortium (DIBC), a US Department of Defence-funded initiative focused on research and commercial solutions for defence requirements, including antimony supply. The western world antimony price continued to surge during the quarter, rising 40% to A$88,409 per tonne. Nagambie's Series 8 Convertible Notes were fully redeemed, and the company's Flexible Working Capital Facility with PPT Nominees was increased by $1.0 million to $3.0 million.