New Murchison Gold shouts eureka

New Murchison Gold (ASX: NMG) has confirmed the presence of strongly gold mineralised zones at depth at its Crown Prince gold project.

The recent drilling program at the site has confirmed the presence of a high-grade gold bearing structure continuing below the planned open pit development at Crown Prince.

The company has delivered an assay result of 0.28m at 17,240g/t of gold within a broader intersection of 1.64m at 3,090g/t of gold from 251.36m.

The Crown Prince gold project is within NMG’s flagship Garden Gully gold project located near Meekatharra in WA.

NMG chief executive Alex Passmore said that the company is delighted by the phenomenal results which equate to a gold grade in excess of 550oz p/t.

“Together with new information from the surrounding drill holes we also have strong confidence in the mineralising structure persisting at depth,” he said.

“We look forward to progressing our understanding of a potential underground mining operation following the commencement of open pit operations at Crown Prince.

“We are well advanced in the development schedule and planning for Crown Prince and are awaiting final approvals from DWER and DEMIRS ahead of site operations commencement.”

Another highlight of the drilling results included 2m at 11.25g/t of gold within a broader zone grading 1.1g/t of gold from 309m.

Visible gold was also intersected at a depth of 568m which is the deepest gold occurrence at the site to date.

NMG reported a maiden open pit ore reserve for the site in February of this year that outlines production of circa 140koz from an operational open pit.

The recent results add confidence to the mineralised structure at depth and indicate enhanced prospectivity of potential underground operations.

NMG’s Garden Gully project comprises a 677km² tenure package that covers the Abotts Greenstone Belt.

Garden Gully houses multiple gold prospects along the belt with the most advanced being the Crown Prince gold project.