New Murchison Gold (ASX:NMG) has delivered a strong set of drilling results from its Crown Prince East pit at the Garden Gully Gold Project in Western Australia's Murchison region, with multiple high-grade intercepts confirming a meaningful addition to its near-term mining inventory.
The standout results from the 49-hole reverse circulation program — totalling 5,365 metres — include 18 metres at 10.3 grams per ton (g/t) gold from 54m, including 6m at 29.3g/t, and 12m at 10.3g/t from 34m, including a spectacular 1m hit grading 42.2g/t. Several other holes returned solid mineralisation, cementing the deposit's credentials as a high-grade satellite target.
Drill hole distribution and significant intercepts over the CP East.
Cross section over CP East showing the recent gold intercepts over the central area.
A strategic deposit in the right place
Crown Prince East sits just 300 metres east of the Crown Prince West pit, which is currently in production. That proximity is significant — the infrastructure, approvals and operational momentum already in place at Crown Prince West can be leveraged directly.
Location of the East Pit area within the Crown Prince mine site.
The deposit is hosted within a mineralised dilational zone in foliated basalt and dolerite, with gold sitting in quartz carbonate veins across a set of sub-parallel, southerly dipping lodes. Drilling revealed two distinct orientations of high-grade mineralisation — an ENE-striking lode set and a steeper N-S zone — with the strongest grades occurring where the two intersect.
Importantly, Crown Prince East is already included within the existing Crown Prince Mining Approval, removing a key regulatory hurdle typically associated with bringing a new area into production.
What's next
NMG has outlined a clear two-step path forward. First, the company will update its mineralisation modelling and fold the new results into a JORC-compliant resource estimate, which will also inform a redesigned pit shell. Second, it will begin preparations for mining commencement, including sourcing additional equipment if required.
Further infill RC drilling is planned on the eastern portion of the pit to chase potential extensions of the high-grade zones, while systematic grade control drilling will follow to underpin the updated resource and mine planning work.
The bigger picture
NMG completed a Feasibility Study for the Crown Prince Deposit in February 2025, positioning the company firmly on the path to gold production. With a market capitalisation of around $500 million and shares trading at $0.046, the addition of a high-grade satellite pit — already permitted and sitting on the doorstep of an active mine — adds a meaningful new dimension to the production outlook.
Crown Prince East now looks set to become a near-term contributor to what NMG is building into a genuine Murchison goldfield operation.