New Murchison Gold Ltd (ASX: NMG) said the Mineral Resource Estimate at its Garden Gully Gold Project in Western Australia rose 47% to 359,000 ounces, with 71% classified as Measured and Indicated. The update reflects new drilling results and revised structural interpretation, including a 39,000-ounce Measured resource at the Crown Prince Open Pit deposit. The company’s update came as the gold price briefly slipped below US$4,000 per ounce and the S&P/ASX All Ordinaries Gold Index fell 3.9%.