Over 4,600m Drilled as Mt Malcolm Mines Targets JORC Resource by Q4 2025

A Strategic Step in Resource Definition

Mt Malcolm Mines NL (ASX, M2M) has initiated a pivotal phase in the development of its Malcolm Gold Project, located in the highly prospective Leonora district of Western Australia. The company has commenced a comprehensive data review and JORC (2012) Mineral Resource Estimation (MRE) across its key prospects, Golden Crown, Dumbarton, and Sunday Picnic. This move follows an extensive drilling campaign and bulk sampling program that have delivered encouraging geological and grade continuity data.

The engagement of Dr Spero Carras, a respected expert with over four decades of experience in gold project evaluation, underscores the company’s commitment to rigorous technical standards. Dr Carras’s expertise in coarse gold systems and his long-standing involvement in the Leonora gold belt lend credibility to the forthcoming resource modelling.

Robust Drilling and Sampling Foundations

Recent reverse circulation (RC) drilling has exceeded 4,600 metres, with notable high-grade intercepts reported across the three prospects. At Golden Crown, drilling has revealed stacked quartz lodes with grades including 11 metres at 3.13 g/t gold and intervals reaching up to 30.8 g/t. Bulk sampling at Golden Crown processed 979 wet metric tonnes, producing 362 ounces of gold doré and generating over A$1.45 million in sales, confirming the high-grade nature and effective gravity recovery of the mineralisation.

Dumbarton and Sunday Picnic prospects complement this picture with broad shear-hosted zones and shallow oxide-rich systems, respectively. Dumbarton shows potential for bulk-tonnage resources with grades typically between 1 and 3 g/t gold, while Sunday Picnic offers shallow continuity and scalability with strike lengths exceeding 700 metres.

A District-Scale Opportunity in a Tier-1 Gold Province

The Malcolm Project spans 235 square kilometres within the Kurnalpi Terrane, intersected by the Keith–Kilkenny Tectonic Zone; a major crustal shear corridor known for hosting tier-1 gold deposits. Its proximity to the +8 million ounce Genesis Gwalia deposit and the +4 million ounce King of the Hills deposit situates Mt Malcolm Mines in a highly strategic location.

The geological setting features Archaean greenstone belts with structurally controlled quartz–carbonate–sulphide veins, typical of orogenic gold systems. The diversity of mineralisation styles across the three prospects; from ultra-high-grade shoots to broad shear zones; demonstrates the project’s exploration upside and potential for resource expansion.

Looking Ahead, Resource Delivery and Exploration Expansion

The company targets delivery of its maiden JORC-compliant Mineral Resource Estimate by the fourth quarter of 2025. This will be followed by infill and extensional drilling to refine lode geometries and expand mineralised zones, alongside regional air core programs to test additional untested structures within the project area.

While historical drill results have not been independently verified to JORC standards, the integration of recent high-quality drilling and bulk sampling data provides a solid foundation for resource estimation. The forthcoming JORC MRE will be a critical milestone, potentially unlocking further investment and development opportunities.