INSERT and ON CONFLICT

I'm filling a table with rows and have the first batch successfully
inserted. When I add more rows there may be some that already exist in the
table and I would prefer that they be ignored and the insert process
continue.

The syntax page for INSERT suggests that ON CONFLICT DO NOTHING is exactly
what I want to include in the command. Have I correctly interpreted what the
DO NOTHING option does when a row to be inserted already is present in the
table?

Rich