New Murchison Gold Limited (ASX: NMG)
New Murchison Gold Hits High-Grade Assays at Crown Prince, Progresses Toward Production
New Murchison Gold Limited (ASX: NMG), focused on the 677 km2 Garden Gully Gold Project in Western Australia’s Murchison goldfield, has reported strong results from grade control drilling at the Crown Prince deposit. Located 22 km northwest of Meekatharra, Crown Prince is the company’s most advanced asset. Drilling was designed to define grade below the lateritic cap rock and support mining readiness. Over 330 angled holes were drilled within the planned pit area, targeting key zones in the South-Eastern section.
Results from this program include multiple high-grade intercepts: one hole recorded 2 metres at 195.79 grams per tonne of gold starting from 26 metres; another returned 40 metres at 11.79 grams per tonne from 3 metres, including a 5-metre interval at 67.45 grams per tonne from 20 metres. Additional results featured 31 metres at 9.70 grams per tonne from a depth of 3 metres, 16 metres at 12.86 grams per tonne from 4 metres including a 3-metre section at 40 grams per tonne, and a 13-metre intersection grading 15.84 grams per tonne from 25 metres downhole. These outcomes extend mineralised continuity across an added 140-metre strike.
The results support the strength of the Crown Prince deposit and follow the release of the Feasibility Study and maiden Ore Reserve in February 2025. During the March 2025 quarter, NMG reported $1.04 million in net operating cash outflows, with exploration activities accounting for $2.5 million in spend. Crown Prince remains central to New Murchison Gold’s strategy as it moves closer to development and future production.
Resource Mining Corporation Limited (ASX: RMI)
Resource Mining Corporation Launches Exploration Momentum Across Tanzania and Saudi Arabia
Resource Mining Corporation Limited (ASX: RMI) continues to progress its mineral exploration strategy, targeting copper, gold, nickel, and lithium across Tanzania, Finland, and Saudi Arabia. During the March 2025 quarter, the company began a RAB drilling program at the Mpanda Copper-Gold Project in Tanzania, covering 1,000 metres across the Stalike and Kabungu prospects. Samples will be tested for gold, copper, and other elements. Recent RC drilling at Kabungu confirmed 4 metres at 2.5g/t gold and 0.5% copper from 39 metres and 2 metres at 0.5g/t gold from 47 metres. At Mpanda, rock sampling returned results ranging from 0.5g/t to 36.7g/t gold and copper values reaching nearly 12%. Exploration continued at additional Tanzanian targets, including Vikonge and Mpanda Ndogo. RMI also signed an exclusive option to acquire interests in the Wadi Salamah and Shaib Marqan gold projects in Saudi Arabia, where rock chip samples showed up to 13.72g/t gold.
To support these activities, RMI raised $2 million through a share placement, issuing 95.2 million shares at $0.021 per share. The company allocated funds toward Tanzanian exploration, debt repayment, and near-term production assessment. Additional exploration is underway in Finland, including work at Koyhajoki. Cash outflows during the March quarter included $119,000 for exploration and $138,000 in operating costs. Financing inflows totalled $95,000, and RMI ended the quarter with $79,000 in cash. With drilling in motion and a diversified portfolio, the company aims to define high-potential assets and advance toward resource definition across its project base.
(Source: Company Announcements)
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