Drilling for diamonds led to visible gold for New Murchison mine in Western Australia

Diamond drilling below Western Australia’s New Murchison Gold’s Crown Prince open pit has hit visible gold and raised the likelihood of a longer mine life. New Murchison Gold, has rolled out visible gold from diamond drilling beneath its Crown Prince open pit.  The volume from the quartz-carbonatite vein around 252m down a hole is certainly worth an inspection and assays are awaited.

Part of the Garden Gully gold project in the Murchison gold fields near Meekatharra, NMG already has 279,000oz in resources at Crown Prince at a tidy grade of 3.9g/t. That translates to an ore reserve of 890,000t at 4.8g/t for 140,000oz, which it claimed in a feasibility study last month will deliver $226m in undiscounted cash flow before tax over 30 months, mined by contractors and sold to nearby mill owner Westgold Resources via an ore purchase agreement.