40.5 g/t Gold Equivalent Found in New C4 Lode at Nagambie Mine
Nagambie Resources has reported a significant assay result from its newly discovered C4 antimony-gold lode, reinforcing its structural model and advancing plans for a joint venture gold treatment plant amid a fresh capital raise.
- Discovery of high-grade C4 antimony-gold lode with 40.5 g/t gold equivalent over 7.3m
- Structural model validated by consistent spacing of multiple C-style lodes
- Mandate secured from JP Equity Partners for placement to sophisticated investors
- Progress on 300,000 tpa joint venture gold treatment plant with Golden Camel Mining
- Rehabilitation bond reassessment underway with Victorian Earth Resources Regulator
A Breakthrough Discovery
Nagambie Resources has announced a compelling assay result from its C4 antimony-gold lode, located approximately 130 metres east of the previously known C1 lode and 123 metres below the surface. The intersection returned an impressive 40.5 grams per tonne gold equivalent, combining 7.0% antimony with 1.8 grams per tonne gold over a 7.3-metre downhole length. This discovery not only adds a new dimension to Nagambie's mineral portfolio but also supports the company's structural model of regularly spaced C-style lodes within the region.
Structural Model and Exploration Potential
The spacing between the C-style lodes; ranging from 100 to 150 metres; aligns well with Nagambie's geological expectations, suggesting a predictable pattern that could guide future exploration. The company plans to target additional lodes within a 1,500-metre radius east of the C4 lode and up to 2,000 metres west/south-west of the C3 lode, indicating substantial exploration upside in the Melbourne Structural Zone of central Victoria.
Joint Venture and Treatment Plant Progress
In parallel with exploration success, Nagambie Resources is advancing a joint venture with Golden Camel Mining to construct a 300,000 tonnes per annum toll treatment facility at the Nagambie Mine. Golden Camel Mining, as manager of the joint venture, is responsible for funding the infrastructure, construction, and commissioning costs. Upon commissioning, revenues and operating costs will be shared equally. While funding discussions continue, the initial ore feed is expected to come from Golden Camel’s permitted mine, positioning the facility as a key processing hub in the region.
Capital Raising and Financial Position
Following the quarter’s end, Nagambie received a mandate from JP Equity Partners to lead a placement targeting sophisticated and professional investors. This development prompted an ASX trading halt on 30 July 2025 as the company prepares to raise capital to support its exploration and operational ambitions. Notably, Nagambie’s cash reserves stood at a modest $111,000 as of 30 June, underscoring the importance of the upcoming placement.
Regulatory and Environmental Considerations
On the regulatory front, Nagambie is addressing a reassessment of its rehabilitation liability for its primary mining licence (MIN5412) by the Victorian Earth Resources Regulator. The current bond is $500,000, and the company is actively liaising with the regulator to clarify the financial implications. This ongoing process adds a layer of uncertainty but also demonstrates Nagambie’s commitment to compliance and environmental stewardship.
Bottom Line?
Nagambie’s high-grade discovery and strategic partnerships set the stage for a pivotal growth phase, but funding and regulatory clarity remain key hurdles ahead.
Questions in the middle?
- What are the detailed terms and timeline for the upcoming placement led by JP Equity Partners?
- How will the rehabilitation bond reassessment impact Nagambie’s financial liabilities and project timelines?
- What is the expected timeline for the construction and commissioning of the joint venture treatment plant?
