New Murchison finds spectacular gold shoot beneath Crown Prince

Exceptional grade emerges beneath Crown Prince

New Murchison Gold Limited (ASX:NMG) has found a remarkably concentrated gold shoot beneath its Crown Prince open pit, returning 14 metres at 231.67g/t gold from RC hole CPRC030. The interval includes four metres at 805.2g/t and a one-metre sample grading 2,860g/t, the highest-grade one-metre RC sample in the company’s Garden Gully drilling database.

“Cross-section A–A’ (looking ENE, ±25m) through CPRC030 showing current MRE wireframes (blue solids) and grade on traces.”

“(left): CPRC030 RC chip tray, 81–96m. Photo 2 (right): RC drill chips from sample NM49773 (82–83m) showing visible gold.”

Caption and image © New Murchison Gold Limited. From “High-grade Gold Intersection Extends Crown Prince”, 29 Oct 2026.

Visible gold was identified in the drill chips. The 2,860g/t result is based on an initial assay of 2,620g/t and a laboratory repeat of 3,100g/t, with the company using the average. The broader 14-metre intersection is reported as a downhole width; true width has not yet been established.

Result falls outside current resource

CPRC030 was drilled from the 435mRL inside the Stage 2 Crown Prince pit and intersected mineralisation at about 367mRL, roughly 118 metres below natural surface. The result lies beneath the final open-pit shell, outside the current Crown Prince Mineral Resource interpretation and close to the existing underground mine design.

That location gives the intercept strategic relevance beyond its headline grade. NMG is assessing an underground operation beneath the pit, building on the 150,400-ounce underground resource reported for Crown Prince in September. The company says the new result will be incorporated into geological interpretation, resource evaluation and underground studies, although it does not yet support a resource estimate on its own.

Continuity remains the central question

“CPRC030 – MOB AREA”

NMG interprets CPRC030 as a discrete, high-grade quartz-vein shoot hosted in chlorite-talc ultramafic schist. The orientation, plunge and continuity are unknown, and neighbouring holes drilled from the same in-pit pad did not return comparable grades, although the company believes some may have ended short of the lode.

“Plan of the northern Crown Prince open pit showing the CPRC004–CPRC009A and CPRC026–CPRC038 drill traces and intercepts, and section line A–A’.”

Separate surface drilling in CPRC008 also returned two notable zones beneath the western pit wall: three metres at 14.9g/t gold from 181 metres and four metres at 13.5g/t from 192 metres. Those intervals sit near an earlier 3.2-metre intercept grading 48.9g/t, about 120 metres deeper, suggesting a possible vertically extensive vein-shear system. That interpretation remains to be tested rather than treated as established continuity.

Diamond drilling to test the shoot

The next technical test will be a diamond twin of CPRC030, intended to verify the width and grade while providing oriented core for structural interpretation. NMG also plans diamond and RC step-out drilling around CPRC030 and CPRC008, alongside geotechnical drilling planned for a potential underground portal and decline.

Assays remain outstanding for CPRC009A, CPRC026, CPRC034, CPRC037 and CPRC038. Coarse gold can complicate both sampling and modelling, and the company acknowledges that closer-spaced drilling, suitable assay methods and a clearer understanding of the shoot’s plunge will be needed before the result can be translated into a reliable resource or mine-plan change.