Up 450% in a year, ASX All Ords gold stock leaping higher again today on exploration results

The All Ordinaries Index (ASX: XAO) is up 0.3% today, with ASX All Ords gold stock New Murchison Gold Ltd (ASX: NMG) racing ahead of those gains

New Murchison Gold shares closed yesterday trading for 5.1 cents. In morning trade on Tuesday, shares are changing hands for 5.5 cents apiece, up 7.8%.

That sees shares in the Aussie gold miner up a whopping 450% since this time last year, smashing the 8.2% returns delivered by the benchmark index.

Here’s what’s catching investor interest again today.

ASX All Ords gold stock jumps on promising assays

New Murchison Gold shares are surging after the company announced high grade gold results from a recently completed reverse circulation (RC) drill program. The miner drilled 33 RC holes totalling 2,920 metres.

The ASX All Ords gold stock said the exploratory drill campaign has delineated additional mineralisation within the Lydia shear zone and extended the known depth and strike of the main mineralised structure.

Management expects this will open up the opportunity to prove up additional reserves close to the miner’s current Crown Prince Gold Operations. The Crown Prince Gold Mine is New Murchison’s flagship asset, located in Western Australia.

The results indicated that the gold mineralisation intercepted at Lydia is similar to the Crown Prince deposit, and the shear zone is around 20 metres to 25 metres in thickness.

What did management say?

Commenting on the exploration results lifting the ASX All Ords gold stock today, New Murchison Gold CEO Alex Passmore said, “We are very pleased to provide this exploration update including high grade results for the Lydia gold prospect.”

Passmore added:

Lydia sits on a granted mining lease very close to the Crown Prince Operation. We believe we can leverage off existing infrastructure (offices, maintenance facility, crusher, and sampling preparation facility) to bring Lydia online relatively quickly. NMG is working towards including Lydia into its resources and reserves inventory.

What’s been happening with the ASX All Ords gold stock?

2025 was a milestone year for New Murchison Gold, with the miner transitioning from a developer to a producer following the first gold production from the Crown Prince Gold Project in the September quarter.

Commenting on the ASX All Ords stock’s progress on 28 October, Passmore said:

The strong operational start, supported by an efficient ramp-up of mining and processing activities, provides a solid foundation for sustained production in the months ahead.

Importantly, ongoing exploration continued to deliver excellent results both at depth beneath the current pit base and regionally across the Abbotts Belt, reinforcing the scale and quality of our current asset base.

The post Up 450% in a year, ASX All Ords gold stock leaping higher again today on exploration results appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.