High-Grade Gold Hits at Crown Prince Signal Potential Upside Risks for Mining Plans
New Murchison Gold Limited has reported additional high-grade gold intercepts from its Crown Prince Gold Project, reinforcing the continuity of mineralisation and suggesting potential outperformance ahead of mining. These results mark a significant step forward for the company’s Garden Gully Gold Project near Meekatharra, Western Australia.
- 91 new reverse circulation drill holes completed at Crown Prince
- High-grade gold assays up to 75.73g/t Au over narrow intervals
- Grade control drilling supports continuity of mineralised structures
- Potential outperformance above base case mining forecasts indicated
- New deep drilling program planned targeting underground potential
Context and Location
New Murchison Gold Limited (ASX – NMG) has advanced its flagship Garden Gully Gold Project with the release of additional high-grade gold results from the Crown Prince Gold Project, located near Meekatharra in Western Australia. The Crown Prince deposit, a key asset within the Garden Gully tenure, lies approximately 22 kilometres northwest of Meekatharra and is accessed via major regional roads.
Drilling Campaign and Results
The company recently completed 91 reverse circulation (RC) grade control drill holes, part of a broader 342-hole program designed to infill resource estimation ahead of mining operations. These holes targeted mineralisation beneath the lateritic cap rock zone, focusing on the Main and Northern ore bodies where previous drilling was sparse due to historic mining voids.
Significant gold intersections reported include intervals such as 7 metres at 8.55 grams per tonne (g/t) gold, including a standout 1 metre at 40.68 g/t, and broader zones like 26 metres at 3.67 g/t with a 2-metre section grading 42.3 g/t. Other highlights include 20 metres at 15.09 g/t and 4 metres at 20.98 g/t, underscoring the high-grade nature of the deposit.
Implications for Mining and Resource Models
According to CEO Alex Passmore, the grade control program has not only confirmed the continuity of mineralised structures but also delivered better-than-expected grades in key ore bodies. This suggests the potential for mining outperformance relative to the base case forecasts, a positive signal for the project's economic viability.
The drilling results are being integrated into updated resource and grade control models, which will underpin forthcoming mining plans. The company is also preparing for a new deep drilling campaign aimed at exploring the underground potential of the Southern Zone, indicating a strategic push to extend the resource base beyond the current open pit design.
Technical and Regulatory Assurance
The drilling and assay work adhere to rigorous industry standards, including the JORC Code, with sampling and laboratory procedures conducted by certified professionals and accredited labs. Quality control measures such as duplicate sampling, certified reference materials, and independent reviews ensure the reliability of the reported results.
Looking Ahead
These latest results mark a significant milestone as New Murchison Gold progresses towards production. The confirmation of high-grade mineralisation continuity and the indication of potential outperformance provide a solid foundation for the company’s next steps, including deeper drilling and updated feasibility studies.
Bottom Line?
New Murchison Gold’s latest drilling success at Crown Prince sets the stage for a potentially stronger mining operation, but deeper drilling and updated studies will be key to unlocking full value.
Questions in the middle?
- How will the upcoming deep drilling program impact the overall resource and reserve estimates?
- What are the expected timelines for updated feasibility studies and commencement of mining?
- Could the higher-than-expected grades materially improve project economics and production forecasts?
