- High-grade gold intersected below Crown Prince pit.
- Drill program targeting underground potential below the open pit.
- Results extending MOB zone at depth.
- Following-up recent drilling success at Crown Prince East.
New Murchison Gold (ASX:NMG) has hit the deepest ore grade interval to date at Crown Prince in an extensional drilling hole below the ultimate planned base of the operating open pit at the Western Australian project.
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The hole intersected 3.2 metres at 48.9 grams per tonne (g/t) from 330 metres, including 0.35 metres at 345.5 g/t Au from 331.2 metres.
New Murchison’s CEO, Alex Passmore, told shareholders the drill program targeted underground potential below the Crown Prince open pit operation with the testing of areas outside of the current resource envelope, adding to the company’s confidence in gold mineralisation extending at depth.
“We are pleased to report further high-grade gold intercepts at our flagship Crown Prince gold mine, where operations in the open pit continue to progress well,” he said.
“The particularly high-grade diamond drill intercept was from an extension to the ‘main ore body or MOB zone’ at depth, which is to form part of the company’s future underground mining plans. These plans are being developed presently and will be released to the market as part of an ore reserves update shortly.
“With open pit operations progressing, these results position Crown Prince for further growth, with underground development studies and an updated ore reserve on the horizon.”
Three mineralised zones were intersected within hole NGGRCDD1184 at around 270 metres, 320 metres, and 330 metres, the company reported. The high-grade zone with visible gold, with a quartz-carbonate boudin.
The mineralisation intersected by the recent drilling is interpreted to be a shoot within the footwall of the main ore body (MOB). Two of the holes will be re-entered and drilled deeper to test this model and to allow for updating of wireframes and inclusion of material into the resource inventory.
During the current drilling program, 18 RC holes were drilled north-westerly under the main pit (SEB area) and three diamond tails targeting the underground potential of the MOB, on the western side of the current pit outline.
Earlier this month, NMG reported high-grade gold intercepts from RC drilling had delineated additional mineralisation within the designed pit outline of the Crown Prince East Pit, a satellite deposit at the Crown Prince gold mine.
Best intersections from this drilling program included 18m at 10.3 g/t from 54m, including 6.0m at 29.3 g/t Au from 65m; and 12m at 10.3 g/t from 34m, including 1.0m at 42.2 g/t from 36m.
Crown Prince East (previously known as Cloudkicker) is located 300m east of the Crown Prince West Pit (CP), which is currently being mined.
NMG is up +7.61%. Mkt cap $499.7M.
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