New Murchison Gold (ASX: NMG)
Provided an update on results and interpretations from its recent regional exploration program.
This results in this announcement include high-grade gold intercepts outside of the Crown Prince Gold Mine currently under development.
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New Murchison Gold vista – Credits New Murchison Gold
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| New Murchison Gold | ASX: NMG | |
| Stage | Development | |
| Metals | Gold | |
| Market cap | A$226 million @ A$0.21c | |
| Location | Murchison, Western Australia | |
| Website | www.newmurchgold.com.au |
New Murchison Gold Report High-Grade Gold Hits Returned From Regional Exploration in The Abbotts Greenstone Belt
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New Murchison Gold Limited (ASX: NMG) (“NMG” or the “Company”) is pleased to provide an update on results and interpretations from its recent regional exploration program.
This results in this announcement include high-grade gold intercepts outside of the Crown Prince Gold Mine currently under development.
The Abbotts Greenstone Belt contains historical gold workings dating back to the early 1900’s. Previous exploration has occurred sporadically over time at the various prospects along the belt.
NMG has consolidated ownership of the belt and has been re-evaluating, mapping and drilling using more modern techniques and leveraging off knowledge gained from its discoveries at the Crown Prince project.
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HIGHLIGHTS
NMG has been undertaking regional exploration on its extensive 677km2 exploration tenure which covers the majority of the Abbotts Greenstone Belt in the Murchison Region of Western Australia.
The belt contains several large-scale gold prospects defined by broad gold anomalism up to 5km strike length in places.
Following its recent commencement of operations at the Crown Prince Gold Mine, the Company is advancing its pipeline of prospects within the belt.
Best intersections reported from drilling at regional prospects include:
• 20m @ 3.36g/t Au from 49m, including 1m @ 39.37g/t Au from 53m in NGGSRC984 (Airstrip)
• 5m @ 5.95g/t Au from 41m, including 1m @ 18.74g/t Au from 42m in NGGSRC1069 (Airstrip)
• 3m @ 8.50g/t Au from 18m, including 1m @ 23.08g/t Au from 19m in NGGSRC996 (Airstrip)
Alex Passmore, NMG’s CEO, commented:
“We are very pleased to announce high grade results from relatively shallow depth from some of our key regional prospects, which offer strong potential for future growth.
“The Airstrip prospect shows a +5km long zone of gold anomalism (+1g/t Au) in shallow drilling and is located near the large Abernethy shear zone.
“Airstrip has the scale to deliver a transformational gold deposit for the Company.
“Lydia and Abbotts prospects sit on granted mining leases (MLs) and the Company is investigating these as potential future production locations.”
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To read the full news release please click HERE
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Disclosure
At the time of writing the author holds shares in New Murchison Gold.
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