Mt Malcolm Mines Launches 3,000m Drilling Push to Unlock Golden Crown Gold Riches

Drilling Program Set to Unlock High-Grade Gold Potential

Mt Malcolm Mines NL (ASX: M2M) is gearing up to commence a significant ~3,000-metre Reverse Circulation (RC) drilling campaign at its 100%-owned Golden Crown and Dumbarton prospects, located near Leonora in Western Australia. This fully funded program aims to systematically test and extend known zones of high-grade gold mineralisation, marking a pivotal step towards defining a maiden JORC-compliant Mineral Resource Estimate.

Golden Crown, the flagship prospect, will see 10 to 12 drill holes targeting structurally controlled, shallow-plunging quartz veins along northwest-southeast and down-plunge orientations. These targets are supported by impressive bulk sampling results, including assays up to 22.4 g/t Au and historical intercepts such as 14 metres at 16.78 g/t Au, highlighting the prospect’s high-grade potential.

Dumbarton Focuses on Lode Continuity and Primary Mineralisation

Meanwhile, Dumbarton will undergo a similar drilling effort with 10 to 12 holes planned to test the continuity of gold-bearing lodes within sheared mafic-ultramafic units. Previous drilling at Dumbarton returned encouraging intercepts, including 6 metres at 2.86 g/t Au and 20 metres at 1.34 g/t Au, indicating the presence of primary hypogene mineralisation that remains open at depth.

The drilling campaign is designed not only to expand geological understanding but also to enhance 3D mineralisation models. These models will underpin future resource estimations and inform potential open-pit mining designs, leveraging the project’s proximity to established gold mining infrastructure to enable low-capital expenditure development opportunities.

Recent Bulk Sampling Validates High-Grade Potential

Adding to the project’s momentum, a recent bulk sampling program at Golden Crown processed 979 wet metric tonnes of mineralised material, producing approximately 346 ounces of gold doré. The sale of this doré to the Perth Mint generated around A$1.4 million in revenue, underscoring the economic viability of the mineralisation and providing valuable metallurgical insights for future extraction pathways.

With all regulatory approvals secured, a leading drilling contractor engaged, and drill pad earthworks underway, Mt Malcolm Mines is positioned for operational efficiency as the program is scheduled for completion within 6 to 8 weeks. Assay results are expected 4 to 5 weeks after sample submission, setting the stage for updated resource models and scoping studies evaluating toll treatment and open-pit mining options.

Strategic Location and Next Steps

The Golden Crown and Dumbarton prospects benefit from their location within the prolific Leonora region, close to the established Gwalia mine and existing processing infrastructure. This strategic positioning reduces development risk and supports the company’s ambitions to progress towards commercial-scale production.

Looking ahead, Mt Malcolm Mines plans to update its geological models, release maiden JORC resource estimates, and advance metallurgical test work on tailings to optimise gold recovery. These steps will be critical in shaping the project’s development trajectory and unlocking shareholder value.