Edjudina Gold Hits 65 g/t; Victoria Bore Copper Anomalies Confirmed in March Quarter
M3 Mining Limited reports promising exploration progress at its Edjudina Gold and Victoria Bore Copper projects, while advancing talks to secure a strategic energy asset in North Africa ahead of a pivotal May shareholder meeting.
- Encouraging gold mineralisation identified at Edjudina’s Broken Bore, Hill, and Plough Prospects
- Victoria Bore soil sampling delineates multiple copper anomalies with key pathfinder elements
- Ongoing discussions to acquire advanced energy asset in the MENA region
- May 30, 2025, Extraordinary General Meeting scheduled to decide board composition amid proposed director changes
- Company holds approximately AUD 1.54 million in cash with continued investment in exploration and corporate activities
Exploration Momentum at Edjudina Gold Project
M3 Mining Limited (ASX: M3M) has reported significant progress during the March 2025 quarter across its 100% owned Edjudina Gold Project in Western Australia. Systematic soil sampling at key prospects, Broken Bore, Hill, and Plough Dam, has revealed compelling geochemical signatures indicative of orogenic gold mineralisation. Notably, historic workings at Broken Bore returned high-grade rock chip assays, including a standout 65 g/t Au sample, reinforcing the prospectivity of the area.
The company’s field teams have mapped and sampled extensively, identifying arsenic and other pathfinder elements that extend mineralisation beyond previously known zones. The ‘Twin Peaks’ style gold signatures at Plough Dam, proximal to the historic Twin Peaks gold mine, further underscore the potential for a significant discovery. M3 Mining plans tighter-spaced sampling and drill testing to refine these targets in the coming months.
Victoria Bore Copper Project Delivers New Targets
At the Victoria Bore Copper Project, also fully owned by M3 Mining, follow-up soil sampling has delineated several copper anomalies with associated silver, gold, molybdenum, and zinc pathfinder elements. These anomalies correlate with historic high-grade copper workings from the 1950s, where near-surface copper grades averaged around 32.7% Cu.
Passive seismic surveys conducted during the quarter have confirmed shallow bedrock depths (5–10 meters), validating the reliability of soil geochemistry as a proxy for underlying mineralisation. Rock chip sampling from historic base metals workings returned anomalous copper values up to 0.28% Cu, alongside elevated arsenic and zinc, suggesting a polymetallic hydrothermal system with potential for further discovery.
Strategic Energy Asset Pursuit and Corporate Developments
Beyond its mineral exploration, M3 Mining is actively advancing discussions to secure an advanced energy asset in the MENA region of North Africa. This strategic diversification aligns with the company’s broader portfolio expansion goals. While progress is encouraging, the company cautions that discussions remain incomplete and outcomes uncertain.
On the corporate front, M3 Mining has called an Extraordinary General Meeting (EGM) for May 30, 2025, to determine board composition. The meeting follows proposed director changes, including the potential removal of executive director Simon Eley and non-executive director Dermot O’Keeffe. The company warns that such changes could disrupt momentum, particularly regarding the energy asset strategy, and urges shareholders to carefully consider their options.
Financial Position and Outlook
As of March 31, 2025, M3 Mining held approximately AUD 1.54 million in cash. The quarterly cash flow statement reflects ongoing investment in exploration and corporate activities, with payments for exploration and evaluation totaling AUD 335,000. The company remains focused on advancing its projects and strategic initiatives while managing costs prudently.
Looking ahead, assay results from recent sampling at both Edjudina and Victoria Bore are pending and expected to provide further clarity on the scale and grade of mineralisation. The outcomes of the May EGM will also be closely watched for their potential impact on company strategy and governance.
Bottom Line?
M3 Mining’s exploration advances and strategic energy ambitions set the stage for a transformative year, but upcoming board decisions could prove pivotal.
Questions in the middle?
- What will the pending assay results reveal about the extent and grade of mineralisation at Edjudina and Victoria Bore?
- How might the proposed board changes impact M3 Mining’s strategic direction, particularly regarding the energy asset acquisition?
- What are the prospects and timelines for securing the advanced energy asset in the MENA region, and how will it integrate with the company’s mining portfolio?
