New Murchison Gold Limited (ASX: NMG) has provided an update on diamond drilling activities at the Crown Prince Gold Project at the company’s flagship Garden Gully Gold Project near Meekatharra, Western Australia.
The company is currently drilling a series of deeper diamond holes targeting mineralization down plunge from the south-eastern zone of mineralization. The target is outside the current mineral resource estimate envelope.
Alex Passmore, NMG’s CEO, commented: “While we caution that assays are awaited from Diamond Hole NGGRCDD974 we are pleased to report the strong visual indications of mineralization in a key extensional area for the Crown Prince resource. We look forward to further updating the market on the assay results and what the broader results are from this deeper drilling programme.”
Diamond hole NGGRCDD974 intersected a strong zone of alteration and shearing at 251.5m down hole which is interpreted to be at the target zone. At 252m an obvious zone, visible, vein hosted dendritic native gold was encountered.
While assays will take two to three weeks to be returned for this hole, New Murchison Gold considers the visual indications as highly encouraging, and material, in relation to the likely extension of the resource envelope. Also, the company believes that raw gold grades in this area are also likely to be materially above the resource average grade.
To find out more, please visit www.newmurchgold.com.au
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