New Murchison Gold Limited (ASX:NMG), a company focused on gold exploration and development projects, is providing an annual review of its Mineral Resources and Ore Reserves estimates for the Crown Prince Gold Mine, in accordance with ASX listing rule 5.21. The company’s primary project is the Garden Gully Gold Project. The update reflects depletion from mining activities up to September 30, 2025, following the commencement of mining on July 1, 2025, and first ore sales in September 2025.
During the period from July 1, 2025, to September 30, 2025, the company mined 160,000 tonnes of ore grading 1.9 g/t Au, containing 9,959 gold ounces, at Crown Prince. The updated Ore Reserve estimate, taking this production into account, shows a total Ore Reserve of 920,000 tonnes at 4.6 g/t for 135,600 ounces of gold, inclusive of stockpiles. Excluding ore stockpile, the updated Ore Reserve is 790,000t at 5.1 g/t for 130,000 oz. These estimates are based on a gold price of A$3,250/ounce and use the end-of-September 2025 mining face position for depletion calculations.
The key change from the previous Ore Reserve estimate on February 3, 2025, is the depletion resulting from mining activities at the Crown Prince deposit. Open pit operations began on July 31, 2025, and are progressing in two stages. The mining operation is performing in line with established performance criteria, with additional low-grade ore mined and stockpiled from near-surface areas.
CEO Alex Passmore stated that the company is focused on establishing the underground potential at Crown Prince and exploring the potential of its near-mine tenement package. Exploration drilling has increased since November 2025, with assays and information to be used in the resource estimate work in the new year. A mineral resource update is anticipated in the first quarter of the 2026 calendar year.
