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New Murchison Gold up 10% on high-grade Cloudkicker hits, fast-tracked mining
New Murchison Gold (ASX:NMG) surged 10% after high-grade drill results at Cloudkicker, with mining already underway and first ore expected in September.
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New Murchison Gold (ASX:NMG) rose 10% Tuesday after reporting high-grade gold intercepts from grade control drilling at the Cloudkicker deposit in Western Australia. Mining has already started, with first caprock ore scheduled for crushing in September.
CEO Alex Passmore said the results will likely lift both the grade and tonnage in the deposit's resource model. Cloudkicker sits next to the Crown Prince open pit, within the company's existing mining approval, so the extra ounces require minimal additional equipment or staffing.
“Mining has commenced, and first caprock ore is to be crushed in September,” Passmore said.