Mt Malcolm Mines Reports 2,010m Drilling and Starts JORC Resource Evaluation
Mt Malcolm Mines NL reported a productive September quarter with extensive drilling confirming shallow gold mineralisation and commenced JORC resource evaluations at its flagship Malcolm Gold Project.
- 2,010 metres of RC drilling completed at Sunday Picnic prospects
- Shallow gold mineralisation confirmed over 700 metres at Picnic South
- Significant gold intercepts at Dumbarton Prospect
- JORC (2012) Mineral Resource evaluation initiated for key prospects
- Mining lease application lodged consolidating Sunday Picnic tenements
Exploration Momentum at Malcolm Gold Project
Mt Malcolm Mines NL has delivered a robust exploration update for the quarter ending 30 September 2025, highlighting significant progress at its Malcolm Gold Project in Western Australia's Eastern Goldfields. The company completed 2,010 metres of reverse circulation (RC) drilling focused on the Sunday Picnic prospects, including the historic Sunday Underground workings and Picnic South extension.
The drilling results confirmed continuous shallow gold mineralisation extending over 700 metres at Picnic South, with multiple broad intercepts such as 8 metres at 0.74 grams per tonne (g/t) gold and 4 metres at 1.37 g/t gold. Beneath the Sunday workings, assays revealed encouraging grades including 8 metres at 1.20 g/t gold from surface and 5 metres at 1.54 g/t gold from 27 metres depth, underscoring the potential for near-surface resource development.
Dumbarton Prospect Delivers High-Grade Zones
At the Dumbarton Prospect, drilling intersected multiple gold-bearing zones over a 700-metre strike length, with standout results such as 3 metres at 2.19 g/t gold including 1 metre at 4.48 g/t, and 2 metres at 3.03 g/t gold including 1 metre at 6.51 g/t. These findings confirm the structural continuity of mineralisation and reinforce Dumbarton as a key target for further resource definition and potential open-pit development.
Advancing Towards JORC Resource and Mining Lease
In collaboration with Dr Spero Carras of Carras Mining Pty Ltd, Mt Malcolm has commenced a comprehensive review and evaluation of drilling data to prepare JORC (2012) Mineral Resource estimates for Golden Crown, Dumbarton, and Sunday Picnic prospects. Concurrently, the company lodged a mining lease application covering 15 contiguous tenements consolidating the Sunday Picnic area, a strategic move to facilitate future development options.
Exploration expenditure for the quarter totaled $772,000, reflecting the company's commitment to advancing its gold assets. No production activities occurred during the period, consistent with the project's exploration stage.
Financial Position and Upcoming Plans
Mt Malcolm reported a cash balance of $192,000 at quarter-end, supported by a $700,000 unsecured loan facility from Managing Director Trevor Dixon. To bolster funding, the company announced a renounceable rights issue aiming to raise up to $2.3 million, underwritten to $1 million, to support ongoing exploration and development activities.
Looking ahead to the December quarter, Mt Malcolm plans to expand drilling programs at high-priority brownfield prospects, update 3D geological models with recent data, progress maiden JORC resource estimates, and advance permitting and technical studies for potential trial mining operations. Engagement with local stakeholders remains a priority to support sustainable project advancement.
Bottom Line?
Mt Malcolm Mines is building a solid foundation for resource definition and potential development, with upcoming drilling and resource updates set to shape its next growth phase.
Questions in the middle?
- How will the upcoming JORC resource estimates impact Mt Malcolm’s valuation and project financing?
- What are the timelines and prospects for mining lease approval and trial mining operations?
- How successful will the rights issue be in securing the necessary capital to sustain exploration momentum?
