Resources Top 5: Visible gold a big drawcard for New Murchison

Diamond drilling below New Murchison Gold’s Crown Prince open pit has hit visible gold and raised the likelihood of a longer mine life.

Visible gold is drawing punters to New Murchison Gold. Pic: Getty Images

• New Murchison Gold’s diamond drilling intersects visible gold below the Crown Prince open pit

• Resolution Minerals acquires gold and antimony projects in NSW and Queensland

• Far East Gold finalises drill plans for its Idenburg and Trenggalek projects in Indonesia

Your standout small cap resources stocks for Monday, March 10, 2025.

New Murchison Gold (ASX:NMG)

Today’s speccy bolter is New Murchison Gold, which has rolled out the razzle dazzle of quote-unquote visible gold from diamond drilling beneath its Crown Prince open pit.

That’s the sort of news that pulls the magpies that are small cap resources punters. While visible gold in one part of an orebody doesn’t mean the whole thing will be rich, it does make for some pretty incredible pictures.

A geologist can go their whole life without seeing visible gold in core at their own projects, and the volume from the quartz-carbonatite vein around 252m down hole in NGGRCDD974 is certainly worth an inspection.

Get a look at that immaculate gold veining. Pic: New Murchison Gold

NMG CEO Alex Passmore cautions that assays are awaited, though it’s understandable why the disclosure had to be made now.

“We look forward to further updating the market on the assay results and what the broader results are from this deeper drilling program,” he added.

Part of the Garden Gully gold project in the Murchison gold fields near Meekatharra, NMG already has 279,000oz in resource at Crown Prince at a tidy grade of 3.9g/t.

That translates to an ore reserve of 890,000t at 4.8g/t for 140,000oz, which it claimed in a feasibility study last month will deliver $226m in undiscounted cash flow before tax over 30 months, mined by contractors and sold to nearby mill owner Westgold Resources (ASX:WGX) via an ore purchase agreement.

Establishment costs come in at just $5.4m, with the $4385/oz spot gold price used in the study already surpassed as gold prices continue to benefit from geopolitical risk and safe haven investing. We’re looking at around $4623/oz today, give or take a few bob.

Importantly for NMG, the hit gives the firm confidence there could be an underground life beyond the 2.5 year production profile of the open pit, which is due be dug from June this year with first ore in August.

The VG is the deepest example of gold mineralisation at the South Eastern Zone of the deposit, with 12 diamond holes planned in the current program. Others have intersected ‘strong alteration and similar styles of structure’, but not the same proliferation of visible gold.

NMG shares are 20% higher year to date and up around a third in morning trade, with a market cap of $92m.

Argonaut’s Patrick Streater suggests they could move even higher, carrying a spec buy rating an 2.7c price target.

Resolution Minerals (ASX:RML)

Gold and antimony are both buzzwords that continue to excite punters, so it is no surprise that they reacted well to tiddler Resolution entering into a binding agreement to acquire three antimony, gold and copper-focused projects in New South Wales and Queensland.

Of these, the Drake East project in NSW is known to host high-grade antimony, gold and silver with samples returning top results of 5.72% antimony, 60.9g/t gold and 214g/t silver.

Notably, the antimony occurrences cover a strike length of over 15km while the placer gold mineralisation occurs over an area of 750m by 100m.

The Neardie project in Queensland includes three past producing antimony mines and hosts mineralisation grading up to 19.9% antimony.

Rounding up the projects is South Spur, which sits within the highly mineralised Macquarie Arc region in NSW and hosts a a large magnetic anomaly of a scale and potential similar to magnetic signatures of mineralised systems in the near vicinity.

The acquisitions highlight the company’s focus on antimony given the strong growth forecast of the critical mineral – well justified given the 250% price rise in 2024.

Catapult Group (ASX:CAT) and Larvotto Resources (ASX:LRV)

(Up on no news)

While neither Catalyst nor Larvotto had news out today, they were both involved in the March 2025 quarterly rebalance of the S&P/ASX indices with Larvotto added to the All Ordinaries while Catalyst joined the somewhat more hallowed ranks of the S&P/ASX 300 Index.

In its half-yearly results reported in late February 2025, Catalyst reported a 783% increase in after-tax net profit to $46m on the sale of 58,435oz of gold at an average realised price of $3830/oz.

Sales revenue also increased by 67% from the prior half-year to $224m with the company adding that it is now debt free after paying off the final gold loan debt instalment in December 2025.

Meanwhile, Larvotto had announced in mid-February that the modification of its existing consent to include the selection of dry tailings storage for its Hillgrove antimony project had been accepted by the NSW Department of Planning, Housing and Infrastructure.

The department also accepted the expansion of processing throughput to 500,000tpa.

Implementing dry tailings removes the requirement for a new environmental permit by utilising the current process plant tailings footprint.

This is expected to save time as the majority of long lead-time environmental and engineering studies are well advanced.

A definitive feasibility study for Hillgrove is on track for completion before the end of the current quarter.

Far East Gold (ASX:FEG)

Rounding out our top five standout resource juniors is Far East and its finalisation of 2025 drill plans for its Idenburg and Trenggalek projects in Indonesia.

It plans to target four prospect areas at Idenburg with the goal of increase the maiden resource of 540,000 contained ounces at 4.1g/t gold.

Far East also intends to carry out a comprehensive drill program at its Trenggalek copper-gold project to the very exciting copper porphyry targets at three prospect areas plus an additional gold epithermal prospect area.

These drill programs are aimed at providing the company with a near-term development project that can be advanced in partnership with its strategic partners.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Resources Top 5: Visible gold a big drawcard for New Murchison