High-Grade Surprise at Crown Prince: New Murchison Gold (ASX:NMG) Strengthens Its ASX300 Push

May 13, 2025 01:36 PM AEST | By Team Kalkine Media

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High-Grade Surprise at Crown Prince: New Murchison Gold (ASX:NMG) Strengthens Its ASX300 Push — Image source: Shutterstock

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Highlights

Crown Prince gold grades exceed previous estimates

Caprock resource sees notable grade and thickness improvement

Ore supply agreement activates between New Murchison and Westgold

New Murchison Gold (ASX:NMG) has reported standout gold grades from its Crown Prince deposit in Western Australia, as the company ramps up preparations for open pit mining. The latest developments have placed a spotlight on NMG’s potential as it continues to gain traction on the radar of ASX300 index watchers.

The company recently announced encouraging results from a 212-hole grade control program targeting the caprock zone above the Crown Prince ore body, part of its larger Garden Gully gold project near Meekatharra. The updated caprock resource now boasts 40,873 tonnes at 1.41 grams per tonne (g/t) of gold for a total of 1,858 ounces. This marks a notable uplift in both grade and thickness, compared to previous estimations.

Originally considered as material for stockpiling, the enriched caprock is now set to be included in the next ore shipment to Westgold Resources (ASX:WGX). This shift comes as part of a live ore purchase agreement (OPA) between New Murchison’s wholly owned subsidiary Zeus Mining and Westgold’s Big Bell Gold.

Under the terms of the OPA, Westgold will receive between 30,000 and 50,000 tonnes of ore per month from the Crown Prince site. This consistent off-take arrangement provides a clearer path to monetisation for New Murchison, reinforcing its near-term production outlook.

The company also recently strengthened its executive ranks, appointing Derek Humphry as Chief Financial Officer and Kim Gundersen as General Manager of Operations. Their combined experience is expected to help steer Crown Prince through development and into early-stage mining efficiently.

New Murchison CEO Alex Passmore noted that the high-grade gold encountered at shallow depths has outperformed internal forecasts, stating that these findings will be factored into updated resource and grade control models to fine-tune short-term mine planning.

The high-grade outcome at Crown Prince aligns with growing investor interest in gold-focused projects, particularly within the broader ASX300 index, where mining and exploration companies continue to play a key role.

While not traditionally known as one of the leading ASX dividend stocks, New Murchison’s development progress and ore supply agreements position it for stronger visibility and potential inclusion in broader income-focused portfolios over time.

With construction activities and mine planning intensifying, Crown Prince is shaping up to be a key asset in New Murchison’s strategy, highlighting the company’s growing relevance within Western Australia’s vibrant gold sector.

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