M3 Mining Unveils High-Grade Gold and Copper Finds, Backed by $1.9M Cash

Exploration Momentum Builds at Victoria Bore

M3 Mining Limited (ASX: M3M) has reported significant progress in its December 2024 quarter activities, highlighting a comprehensive soil sampling program at its Victoria Bore Copper Project in Western Australia. The program covered a substantial 60 square kilometres of the prospective Wyloo Group geology, yielding 1,596 soil samples now undergoing detailed geochemical analysis. This large-scale survey aims to delineate the extent of base metal mineralisation, building on the discovery of multiple historic copper workings, some with grades exceeding 30% copper.

Adding to the project’s potential, the company uncovered an undocumented historic mine working on a recently granted tenement within the Edmund Group geological package. This discovery, absent from official records, could signal further copper mineralisation opportunities in the region, underscoring the underexplored nature of the tenure.

High-Grade Gold Prospects at Edjudina

At the Edjudina Gold Project, located approximately 150km northeast of Kalgoorlie, M3 Mining’s reconnaissance efforts have yielded encouraging results. Rock chip sampling at the Broken Hill Bore prospect returned assays as high as 65 grams per tonne (g/t) gold, a standout figure that reinforces the prospect’s potential for high-grade orogenic gold mineralisation. This area hosts multiple historic workings dating back to the early 1900s, with previous mining producing gold at an average grade of 31.1 g/t.

Further exploration activities are planned, including a soil sampling program set to commence in February 2025, targeting favourable geological structures. Additionally, mapping and sampling at the Old Plough Dam prospect, near Northern Star’s Carosue Dam gold mine, have identified geological settings analogous to the Twin Peaks deposit, suggesting promising avenues for future discovery.

Financial Position and Strategic Outlook

Financially, M3 Mining remains well-positioned with approximately $1.9 million in cash as of 31 December 2024, providing a solid foundation to advance its exploration programs throughout 2025. The company’s cash flow report indicates disciplined expenditure on exploration and corporate activities, balanced by recent equity funding.

Beyond its core mineral exploration, M3 Mining is actively pursuing an advanced energy asset in the Middle East and North Africa (MENA) region. Discussions with government bodies, potential off-takers, and financiers are ongoing, reflecting the company’s strategic intent to diversify and expand its portfolio. While these negotiations are at an early stage with no certainty of acquisition, securing such an asset could represent a transformative development for the company.

Looking Ahead

The coming quarter promises to be pivotal, with assay results from the Victoria Bore soil sampling and Edjudina rock chip programs expected to provide further clarity on the projects’ mineral potential. M3 Mining’s methodical approach to exploration, combined with its strong financial footing, positions it well to capitalize on emerging opportunities in both gold and copper domains.