New Murchison Gold (ASX:NMG) is working “relatively quickly” to bring the Lydia gold prospect, complete with its high-grade exploration results, into the wider fold at Crown Prince early this year by leveraging several nearby offices, as well as the crusher and maintenance and sample prep facilities.
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This, the expanding Western Australia gold explorer told shareholders today, should be possible now Lydia’s latest results have seen its known strike and depth of mineralisation in the target shear zone extended.
“We believe we can leverage… existing infrastructures to bring Lydia online relatively quickly,” explorer chief Alex Passmore explained. “New Murchison Gold is working towards bringing Lydia into its resources and reserves.”
Lydia sits on granted mining lease M51/889, and is covered by the same Native Title and Heritage Agreement that applies to Crown Prince, suggesting any unification in CY26 should be relatively easy. The prospect sits around 800 metres from the company’s main mine, in an area with lower deformation.
NMG is eager to bring Lydia into the fold because it’s already showing similarities to Crown Prince, including comparable host rocks and structural controls.
Standout intercepts from the 33-hole RC drilling already staged at Lydia included three metres at 32.9 grams per tonne from 46 metres (including one metre at 62.4g/t gold) and 9.1 metres at 10.3g/t gold from 89 metres.
Other significant mineralisation ranged from shallow high-grade zones to broader mineralised intervals; each reflects supergene styles.
Beyond all the Lydia excitement, New Murchison has also been drilling at Lydia South and Lydia East. While less standout than Lydia right now, each saw shallow high-grade intercepts the company is keen to explore more.
Heading into Tuesday morning, NMG shares are at 5.2c each.
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