New Murchison Gold (ASX:NMG) CEO Alex Passmore says the company is expecting a strong start in October 2025, after ramping up mining and crushing up to 31,000 tonnes at the Crown Prince Gold Mine in Western Australia.
The 31,000 tonnes of ore had a grade of 3.23 grams per tonne gold. The ore was trucked to Westgold Resources’ (ASX:WGX) Bluebird gold processing facility located 36km by road south of Crown Prince.
New Murchison, which has a market capitalisation of $313 million, says the production inventory onsite has been built up over September, with 33,600 tonnes of ore on the run-of-mine awaiting crushing and 11,000 tonnes of crushed product awaiting collection.
Passmore says the company is looking forward to the first revenue from Crown Prince in October.
“We are continuing to ramp up production from the open pit and are debottlenecking key areas of our process,” he says.
This news comes in conjunction with gold reaching a new all-time high price of US$3,800 per ounce yesterday (29 September). The precious metals’ spot price sat at US$3,847.4 per ounce at the time of writing.
Over the past month, gold’s price has increased 10.57% and is up 44.50% compared to the same time last year, according to Trading Economics.
The Crown Prince Mine sits within the Garden Gully Project which comprises 677km2 of tenure covering the Abbotts Greenstone Belt.
New Murchison Gold is a Western Australian gold mining and development company focused on its substantial package of tenements in the Murchison goldfield near Meekatharra.
Write to Aaliyah Rogan at Mining.com.au
Images: New Murchison Gold
