Highlights

• New Murchison Gold has reported a very high-grade gold intersection from drilling at the Crown Prince gold mine.

• CPRC030 was drilled at a dip of about 55 degrees from an in-pit pad at 435 mRL and.

• The company also reported results from surface holes on the western side of the pit.

• NMG suggested CPRC008 may lie about 120m vertically above an earlier diamond intercept of 3.

New Murchison Gold (ASX:NMG) — has reported a very high-grade gold intersection from drilling at the Crown Prince gold mine, part of its Garden Gully Gold Project near Meekatharra in Western Australia. The company said reverse circulation (RC) hole CPRC030 returned 14m at 231.67 g/t gold from 80m downhole, using a 0.5 g/t cut-off and no internal dilution.

The headline intercept

Within that interval, NMG reported 4m at 805.2 g/t gold from 80m, including a single metre at 2,860 g/t gold from 82m. The company said visible gold was seen in the drill chips and described the one-metre sample as the highest-grade one-metre RC sample in its Garden Gully database.

The figure needs careful reading. According to the announcement, the sample was first assayed at 2,620 g/t and then re-assayed at 3,100 g/t, and the reported 2,860 g/t is the average of the two. The company also noted that the results in its tables are uncut, and that coarse gold is hard to predict from widely spaced drilling and is usually top-cut when resources are estimated.

CPRC030 was drilled at a dip of about 55 degrees from an in-pit pad at 435 mRL and reached 114m. NMG said the intercept lies about 118m below surface, outside the current Crown Prince Mineral Resource, beneath the final pit shell and close to the proposed underground design.

Other holes in the program

The company also reported results from surface holes on the western side of the pit. CPRC008, roughly 125m west of CPRC030, returned 3m at 14.89 g/t gold from 181m, including 1m at 22.9 g/t, and 4m at 13.54 g/t from 192m, including 1m at 36.0 g/t. NMG said both intervals sit in smoky quartz veins within sheared mafic schist.

NMG suggested CPRC008 may lie about 120m vertically above an earlier diamond intercept of 3.2m at 48.9 g/t gold from 330m, which it said could point to a vertically extensive high-grade vein and shear system.

Assays have been received for 12 of 18 holes in the current program, which comprises seven surface RC holes totalling 1,900m and eleven in-pit RC holes totalling 1,191m. Results are still pending for CPRC009A, CPRC026, CPRC034, CPRC037 and CPRC038. CPRC009 was not sampled after excessive deviation and was redrilled as CPRC009A.

Underground context

The drilling sits alongside NMG's work on a possible underground operation. The company's Crown Prince Underground Mineral Resource, announced on 23 September 2026, stands at 1.45 million tonnes at 3.2 g/t gold for 150,400 ounces at a 1.2 g/t cut-off, of which 1.081 million tonnes is classified as Indicated and 361,000 tonnes as Inferred. NMG said it is studying an underground mine beneath the pit, with an initial portal under consideration at about 75m vertical depth within the pit.

NMG began production at Crown Prince in September 2025 following a development decision in June 2025. It is mining two open pits and sells gold in ore to Big Bell Gold Operations Pty Ltd under an ore purchase agreement.

Risks and next steps

The company was clear about the limits of the data. Only downhole widths have been reported, so true widths and the orientation, plunge and continuity of the CPRC030 high-grade zone are not yet known. NMG said data spacing is not sufficient to establish grade continuity for Mineral Resource estimation, that underground development may not proceed, and that further exploration may not result in a Mineral Resource.

Planned follow-up includes a diamond twin of CPRC030 to confirm width and grade and to provide oriented core, step-out diamond and RC drilling around CPRC030 and CPRC008, and screen fire or bulk assays of the high-grade intervals. NMG said geological models, future resource estimates and underground studies will be updated, and that results from the pending holes will be released as they become available.