New Murchison Gold (NMG) has announced an “amazing” headline grade for the visual gold intercept uncovered at its Crown Prince gold project in Western Australia.
Recent assays from diamond drill hole NGGRCDD974 returned a intercept of 0.28m at 17,240 grams per tonne (g/t) of gold, within a broader intersection of 1.64m at 3090g/t from 251.36m.
The result came from NMG’s drilling campaign targeting the south-eastern zone (SEZ) at depth, which aimed to grow the resource by converting inferred mineral resources to indicated mineral resources.
“We are delighted to announce an amazing headline grade for the visual gold intercept, which we reported to the ASX in March which equates to a gold grade in excess of 550 troy ounces (of gold) per tonne,” NMG chief executive officer Alex Passmore said.
“Together with new information from the surrounding drill holes we also have strong confidence in the mineralising structure persisting at depth.
“We look forward to progressing our understanding of a potential underground mining operation following the commencement of open pit operations at Crown Prince.”
NMG recently finalised a 13-hole deep diamond drilling program targeting mineralisation outside the current resource estimate.
A total of two holes were extended beyond the SEZ to test the main zone (MZ) structure at depth, with hole NGGRCDD980 intersecting the deepest known gold mineralisation at the project with visible gold at 568m down hole.
“This mineralisation was intersected on the western side of the Crown Prince central shear (northerly trending) which offsets and separates MZ and SEZ,” NMG said.
The company said the new results will feed into a revised mineral resource estimate, which will include an underground component.
“We are well advanced in the development schedule and planning for Crown Prince,” Passmore said.
“And are awaiting final approvals from DWER (Department of Water and Environmental Regulation) and DEMIRS (Department of Energy, Mines, Industry Regulation and Safety) ahead of site operations commencement.”
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