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Nagambie Resources Limited ( (AU:NAG) ) has shared an announcement.
Nagambie Resources Limited has recommenced diamond drilling at its Nagambie Mine following a successful $1.2 million capital raising. The drilling aims to further explore the C4 lode, which previously showed promising antimony and gold intersections. The current Mineral Resource Estimate (MRE) includes significant gold and antimony resources, and updates will be made as new drill results are obtained. This development could enhance Nagambie’s position in the mining industry and provide strategic benefits given the global demand for antimony.
More about Nagambie Resources Limited
Nagambie Resources Limited is focused on the exploration and development of its flagship Nagambie Antimony-Gold Project in Victoria, Australia. The project includes the high-grade Nagambie Mine, historic Whroo mines, and the Wandean deposit. The discovery of antimony and gold in multiple vein systems at the Nagambie Mine is significant due to antimony’s importance to various economies and defense sectors globally. The company holds a Mining Licence over the discovery, facilitating its development.
YTD Price Performance: -22.22%
Average Trading Volume: 1,018,448
Technical Sentiment Signal: Sell
Current Market Cap: A$12.54M
For a thorough assessment of NAG stock, go to TipRanks’ Stock Analysis page.