WA, Gold exploration and development Company, New Murchison Gold Limited (ASX:NMG)
is pleased to provide an update on diamond drilling activities at the Crown Prince Gold Project (Crown Prince) at the Company’s flagship Garden Gully Gold Project near Meekatharra, Western Australia.
The Company is currently drilling a series of deeper diamond holes targeting mineralisation down plunge from the south-eastern zone of mineralisation. The target is outside the current mineral resource estimate envelope. Diamond hole NGGRCDD974 intersected a strong zone of alteration and shearing at 251.5m down hole which is interpreted to be at the target zone. At 252m an obvious zone, visible, vein hosted dendritic native gold was encountered. While assays will take two to three weeks to be returned for this hole the visual indications are considered highly encouraging, and material, in relation to the likely extension of the resource envelope. Raw (uncut) gold grades in this area are also likely to be materially above the resource average grade.
Alex Passmore, NMG’s CEO, commented: “While we caution that assays are awaited from Diamond Hole NGGRCDD974 we are pleased to report the strong visual indications of mineralisation in a key extensional area for the Crown Prince resource. We look forward to further updating the market on the assay results and what the broader results are from this deeper drilling program”.
Full announcement attached
Key Facts:
• New Murchison Gold Limited (NMG) is currently undertaking diamond drilling underneath the planned Crown Prince open pit1 .
• Diamond hole NGGRCDD974 comprises a circa 154m long diamond core tail commencing at the bottom of a 150m deep RC pre-collar. Drilling is targeting extensions down plunge of the south eastern zone (SEZ) mineralisation (outside of the high-grade Crown Prince mineral resource2 ).
• The diamond core hole was drilled to target mineralisation at around 260m down hole. At 252m down hole a quartz-carbonate vein with strong showings of native visible gold was intersected (refer Photos 1&2).
• The gold-bearing vein was intersected at the top of 16m strongly sheared interval (refer Table 1 – Lithological Description & Visual Estimates). The shear zone is predominantly sheared mafic schist (pre-cursor dolerite and basalt) and ultramafic rocks with rafts of black shale above the main sheared structure. Abundant quartz-carbonate veining (which is the typical host rock for gold mineralisation at the Crown Prince gold deposit) is present throughout this 16m interval.
• The visible gold intersected in this hole, NGGRCDD974, is the deepest example of gold mineralisation at the south-eastern zone (SEZ) zone of the Crown Prince gold deposit and is strongly encouraging for a continuation of mineralisation at depth down-plunge.
• The diamond drilling program is ongoing, assays from this hole have been prioritised and will be received in approximately two to three weeks.
• Other diamond holes in the program (12 planned in total at this stage, refer Table 2 – Collar Table) have intersected strong alteration and similar styles of structure (albeit with less visible gold). Assays are pending for two of the holes drilled prior to this hole (NGGRCDD971 and NGGRCDD972) and a third hole (NGGRCDD975) is awaiting processing and cutting on site. NGGRCDD973 is yet to be drilled.
About us:
New Murchison Gold Ltd (ASX:NMG) is a mineral exploration and development company which holds a substantial package of tenements in the prolific Murchison goldfield near Meekatharra, Western Australia.
The Company is focused on the Garden Gully Gold Project which comprises a 677km2 tenure package covering the Abbotts Greenstone Belt and other key regional structures.
The project has multiple gold deposits along the belt with the most advanced being the Crown Prince Deposit. Gold mineralisation in the belt is controlled by major north trending structures and contact zones between felsic and mafic metamorphosed rocks.
NMG updated its Mineral Resource Estimate in November 2024 and reported a maiden Ore Reserve and Feasibility Study for the Crown Prince Deposit in February 2025. This places NMG on track towards becoming a gold producer.
https://www.newmurchgold.com.au/
Contact details:
Jane Morgan
[email protected]
