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    Alkane–Nagambie JV at Victorian gold–antimony mine: design notes for engineers

    January 30, 2026|

    Reviewed by Tom Sullivan

    Alkane–Nagambie JV at Victorian gold–antimony mine: design notes for engineers

    First reported on Australian Mining

    30 Second Briefing

    Nagambie Resources has signed a binding term sheet with Alkane Resources for a proposed joint venture over the historic Nagambie gold–antimony mine in central Victoria, targeting high-grade underground mineralisation rather than the site’s former open-pit operations. Alkane, which operates the Tomingley gold mine in New South Wales, would fund exploration and evaluation drilling to earn into the project, focusing on structurally controlled gold–stibnite lodes. The deal signals renewed interest in Victorian antimony-bearing systems, with potential implications for underground geotechnical design in historically backfilled and partially rehabilitated workings.

    Technical Brief

    • Alkane must sole-fund staged exploration and evaluation drilling programmes to progressively earn additional project equity.
    • Governance is via a joint venture management committee, with Alkane as initial manager for technical programmes.

    Our Take

    Gold dominates our Mining coverage, but gold–antimony pairings like this Nagambie mine JV are relatively rare, signalling that Alkane Resources and Nagambie Resources are positioning into a niche critical-mineral by-product space rather than a pure precious-metal play.

    Victorian gold projects in our database often face tighter environmental and heritage scrutiny than some other Australian regions, so structuring this as a JV may help share permitting, community engagement and technical risk between Alkane Resources and Nagambie Resources.

    Antimony’s presence alongside gold at the Nagambie mine suggests potential for metallurgical complexity but also strategic upside, as antimony is frequently flagged in policy discussions on critical minerals, which can influence future funding or infrastructure support in Australia.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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