New Murchison Gold (ASX:NMG) has made a “significant” hike to the mineral resource estimate at its Garden Gully project near Meekatharra. The global project MRE has increased by 47%, expanding to a remaining in-situ resource of 4.42 million tonnes at 2.5 grams per tonne Au for 359K ounces contained gold.
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The update reflects a 29% increase over November CY24’s estimate, and a 47% increase when factoring in full, reconciled production up to April.
Combined Measured and Indicated categories now account for 71% of the global project ounces (258,200 ounces), New Murchison told shareholders today, “ensuring local grade predictability for near-term mine planning.”
Isolating the Crown Prince and Cloudkicker deposits, which comprised the entire November CY24 model, this updated MRE achieved an 18% increase in contained gold ounces at the 1.2 g/t Au cut-off grade and a 22% increase at 0.5 g/t Au cut-off in the combined Measured/Indicated ratings.
“This significant upgrade demonstrates the high-value growth achieved across the core asset areas through recent targeted drilling,” the explorer wrote.
New Murchison today declared: “By incorporating the Lydia and Abbotts assets for the first time, this update significantly expands NMG’s production pipeline and underscores the scaling potential of the Garden Gully goldfield.”
Into the future, New Murchison plans to use these updated MREs to underpin ongoing feasibility studies and open-pit and underground optimisations. Next planned activities will include infill and extensional drilling, to expand the resource where it’s still open, and to upgrade ratings categories.
NMG opened at 4.4cps this morning.
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