New Murchison Gold Advances Crown Prince Project as Westgold Ore Purchase Agreement Comes into Effect
New Murchison Gold Limited (ASX: NMG) (“NMG” or “the Company”) is pleased to advise that all conditions precedent to its Ore Purchase Agreement (OPA) with Westgold Resources Limited (ASX: WGX) have now been satisfied or waived, and the agreement has officially come into effect.
The OPA between Big Bell Gold Operations Pty Ltd (a wholly owned subsidiary of Westgold) and Zeus Mining Pty Ltd (a wholly owned subsidiary of NMG) enables Westgold to purchase gold ore from NMG’s Crown Prince deposit, part of the Company’s flagship Garden Gully Gold Project near Meekatharra, Western Australia.
Key Highlights
-
All conditions precedent to the Crown Prince Ore Purchase Agreement with Westgold Resources have been met.
-
Agreement now in full effect, marking a major development milestone for NMG.
-
Ongoing progress on Crown Prince open pit development includes:
-
Acquisition of an operational base in Meekatharra
-
Receipt of native vegetation clearing permit and dewatering bore licence
-
Completion of dewatering bore development; pipeline works imminent
-
Recruitment of key management personnel underway
-
Tender process for principal operational contracts (mining, crushing, dewatering) has commenced
-
Ongoing grade control and deep diamond drilling activities
-
Comment from CEO Alex Passmore
“We are pleased to have completed this milestone and for our Ore Purchase Agreement with Westgold Resources Limited to have come into effect. We are developing a positive working relationship with the Westgold team. NMG is busily progressing the high-grade Crown Prince open pit gold project towards development.”
The Company is continuing to build momentum in preparation for production at Crown Prince, supported by its advancing regulatory approvals, operational infrastructure, and exploration activities.
About us:
About New Murchison Gold
New Murchison Gold Limited (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.
The Crown Prince Deposit is located within a granted mining lease and is advancing towards development.
For more information, visit: www.newmurchgold.com.au
Contact details:
Alex Passmore
Chief Executive Officer
E: [email protected]
Jane Morgan
Investor & Media Relations
E: [email protected]