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An update from Ora Gold ( (AU:NMG) ) is now available.
New Murchison Gold has reported a series of high-grade gold intercepts from extensional drilling beneath the planned base of the Crown Prince open pit at its Garden Gully Gold Project in Western Australia. The deepest ore-grade interval to date at Crown Prince, including 3.2 metres at 48.9 grams per tonne gold from 330 metres with a peak of 345.5 grams per tonne over 0.35 metres, lies outside the current resource envelope and confirms that mineralisation continues at depth.
The latest drill hole intersected three mineralised zones, with the standout high-grade interval located within the main ore body west of the current pit and at a vertical depth of about 190 metres below the designed pit floor. Together with several other strong intercepts, these results support New Murchison Gold’s intention to incorporate underground extensions of the main ore body into its future mining plans, which are being progressed alongside an upcoming ore reserves update, signalling potential for longer mine life and enhanced production optionality.
The most recent analyst rating on (AU:NMG) stock is a Buy with a A$0.07 price target. To see the full list of analyst forecasts on Ora Gold stock, see the AU:NMG Stock Forecast page.
More about Ora Gold
New Murchison Gold Limited is an Australian gold miner focused on the Garden Gully Gold Project in Western Australia, where its flagship asset is the Crown Prince gold mine. The company is listed on the ASX under the code NMG and operates an open-pit mine while evaluating underground potential to expand its resource base and extend mine life.
Average Trading Volume: 31,148,070
Technical Sentiment Signal: Buy
Current Market Cap: A$521.5M
For detailed information about NMG stock, go to TipRanks’ Stock Analysis page.