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Smallcap New Murchison Gold (ASX:NMG) has been the latest little Oz gold miner to get in on the good news while the precious metal’s prices are through the roof, boasting that there’s “strong potential for future growth” at the project.
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“We’re very pleased to announce high-grade results from relatively shallow depth from some of our key regional prospects,” the $215M miner’s chief, Alex Passmore, said in an exploration update on Wednesday.
Those pleasing results range from 20 metres at 3.36 grams per tonne gold from 49 metres (including one metre at 39.37g/t Au from 53m) at the Airstrip prospect and four metres at 13 grams per tonne gold from 43 metres (including one metre at 45.35g/t Au from 45 metres) at Battery.
New Murchison also confirmed the Abbotts Greenstone belt, which it mostly covers thanks to its 677sqkm tenure, does indeed host several large-scale gold prospects defined by broad gold anomalism.
That anomalism reaches up to five kilometres strike in some places.
It’s big enough that New Murchison is now spruiking it as “transformational.”
Between that and visible gold chunks dug up at the Lydia prospect – most of which was found back in 2020 – has left NMG looking at a shiny future.
To capitalise, the gold explorer is now planning further drilling to the south, where it previously spotted high-grade intercepts. There are also several RC hole results still coming in from Crescent sometime in the near future.
And, New Murchison is teeing up further RC drilling at Battery in CY25.
NMG has popped as much as +10% on today’s mining update.
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