Nagambie Resources Limited announced that With the change to the On Site laboratory in Bendigo in late 2022, all the mineralised samples in NAD007-011 were resubmitted to On Site, together with mineralised samples in NAD012. All significant On Site assays (greater than 1.0 g/t gold or 1.0% antimony) received for diamond drill holes NAD007-012. Assays are pending for NAD013-018 and NAD020-NAD028 (NAD019 has not been drilled yet). For samples containing significant antimony, the individual gold and antimony assays were weighted for both sample thickness and bulk density. Consideration was then given to the mineable cut-off grade (MCOG) of 3.0 g/t gold equivalent (AuEq) over at least 1.2m estimated horizontal thickness (EHT). The 10 high-grade intersections within the MCOG zones for the C1 and C2 vein systems to date average 16.3
g/t AuEq (6.3% antimony, 4.3 g/t gold) and have an average potential stope width of 1.8m EHT. The average of 16.3 g/t AuEq is 5.4 times the estimated mineable cut-off grade (MCOG) of 3.0 g/t AuEq. This indicates potentially very-low operating cost, very-high operating margin mineralisation. The epizonal N-striking C1 and C2 vein systems are associated with the EW-striking Nagambie Mine Central Anticline and the various EW-striking thrust faults which dip to the north (due to the N to S compression event at the time of first mineralisation, circa 375 million years ago) and are known to continue regionally to kilometres in depth. The strike length of the C1 vein system is currently around 80m. The vertical extent of the C1 vein system is
currently around 200m but could increase substantially, to 1,000m or more, with extensive further drilling ­ initially from surface and later from underground. The Fosterville epizonal mineralisation extends to more than 1,000m vertical depth and the Costerfield epizonal mineralisation is approaching 1,000m vertical depth.