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The third month of activity at the Crown Prince mine, delivered 67,199 tonnes of ore to Big Bell for processing.
Roman Bodnarchuk / Shutterstock
New Murchison Gold Limited (ASX:NMG,OTC:TLXPF) reported a strong third month of mining and crushing at the Crown Prince gold mine, its most advanced prospect at the Garden Gully gold project.
Mining and crushing at the project delivered 67,199 dry tonnes of ore grading 3.69 g/t gold to Westgold Resources (ASX:WGX,OTC:WGXRF) subsidiary Big Bell Gold Operations for processing at the Bluebird plant, located 36 kilometres south of Crown Prince.
Under the companies’ ore purchase agreement, the shipment is estimated to contain 7,630 recoverable ounces of gold. Payment for the December delivery is expected at the end of the month.
“We are pleased to advise the market of the strong start of the Crown Prince Gold Mine and that the operation has stabilised at production levels in line or better than the company’s feasibility study estimates,” said New Murchison CEO Alex Passmore.
He added that this is the second month Westgold has provided the company with the opportunity to exceed the OPA monthly cap of 50,000 tonnes per month.
At the end of November, unreconciled site inventory included approximately 16,200 wet tonnes of crushed ore. The company also confirmed receipt of the latest payment from Westgold, with October’s ore sales generating AU$41.6 million.
Crown Prince currently holds an updated mineral resource of 79 kilo ounces at 3.9 g/t gold, a 16 percent increase from the February 2024 estimate.
New Murchison wrote on its website that the updated MRE boasts a 39 percent increase in the indicated classification estimate to 226 kilo ounces at 4.6 g/t gold.
Payment for December 2025 between New Murchison and Westgold is scheduled at the end of December 2025, in line with contractual terms.
The company said that future production updates in Crown Prince will be provided through Quarterly Reports.
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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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Gabbie graduated with a journalism degree from Colegio de San Juan de Letran - Manila and has produced articles on a variety of topics, such as infrastructure, business and technology. Her creative portfolio includes written work on architecture, art and design. Gabbie covers the Australian market for the Investing News Network, focusing on the mining sector.
When not in front of her desk, she is out scanning through vinyl records, exploring the international coffee culture and fighting for queer rights.
When not in front of her desk, she is out scanning through vinyl records, exploring the international coffee culture and fighting for queer rights.
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Gabbie graduated with a journalism degree from Colegio de San Juan de Letran - Manila and has produced articles on a variety of topics, such as infrastructure, business and technology. Her creative portfolio includes written work on architecture, art and design. Gabbie covers the Australian market for the Investing News Network, focusing on the mining sector.
When not in front of her desk, she is out scanning through vinyl records, exploring the international coffee culture and fighting for queer rights.
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