New Murchison Gold (NMG) has found high-grade gold at its Lydia gold project in Western Australia. This strengthens the property’s potential to be a production pipeline for the company’s Crown Prince mine.
There were a total of thirty-three holes drilled, covering more than 2900 meters. These holes found high-grade gold, including 3m at 32.9 grams per tonne (g/t) of gold from 46m (including 1m at 62.4 g/t of gold) and 9.1m at 10.3 g/t of gold from 89m (containing 1m at 24.6 g/t gold). Recent drilling at the site, which is 800 meters west of Crown Prince, found more gold minerals in the Lydia shear zone.
It has also made the primary mineralized structure at the site longer and deeper than what was previously known.
The business added that this is similar to the geology of Crown Prince, which is expected to produce 140,000 ounces of gold over the first 30 months of an open pit mine life.
“We are very happy to give this update on exploration, which includes high-grade results for the Lydia gold prospect.” NMG CEO Alex Passmore remarked, “Lydia is on a granted mining lease very close to the Crown Prince operation.”
We think we can use the current infrastructure (offices, maintenance facility, crusher, and sampling preparation facility) to get Lydia online quite soon.
“NMG is working to add Lydia to its list of resources and reserves.”
Next initiatives at Lydia include updating the mineral model, using the data to make a JORC-compliant resource estimate, improving the pit design, and doing more drilling in the Lydia South and Lydia East zones.
source: australia market
