New Murchison Gold Hits High-Grade Gold in Caprock at Crown Prince
Shallow drilling returns standout results ahead of first mining at flagship deposit
New Murchison Gold Limited (ASX: NMG) has intersected multiple high-grade gold zones from grade control drilling at the Crown Prince Gold Project, part of its 100%-owned Garden Gully Gold Project near Meekatharra, Western Australia.
The drilling focused on the shallow lateritic caprock zone targeted for early-stage open-pit mining. The results are expected to significantly improve the grade and tonnage of this near-surface resource, previously reported containing 40,873t at 1.41g/t Au for 1,858 oz.
Highlighted intercepts include:
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9m @ 18.71g/t Au from 1m in GC00088
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6m @ 9.44g/t Au from 3m in GC00087
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8m @ 9.99g/t Au from 0m in GC00111
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8m @ 4.45g/t Au from 0m in GC00196
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4m @ 4.07g/t Au from 0m in GG00194
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5m @ 3.44g/t Au from 0m in GC00114
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1m @ 17.68g/t Au from 7m in GC00153
The results stem from a 212-hole slim reverse circulation (SRC) program to a maximum depth of 14m, targeting areas across the proposed pit design.
Alex Passmore, NMG’s CEO, said:
“We are pleased to report shallow high gold grades that far exceed our expectations for gold grades in the caprock zone of the Crown Prince resource. We look forward to updating our resource model, grade control model and short-term mining plans given the high-grade nature of ore likely to be encountered early in the mine plan.
The caprock was planned to be stockpiled early on in our mine plans, however following these grade results is likely to add to material being sent to Westgold under our ore purchase agreement.”
The company expects to update its grade control model in the near term, incorporating these results to optimise early mining schedules. The Crown Prince deposit is the most advanced target within the broader Garden Gully Gold Project, where the company is progressing toward near-term gold production.
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.
Contact details:
Investor & Media Enquiries:
Jane Morgan – [email protected]