Drill drive shows riches run deeper at Mt Malcolm Mines’ Malcolm gold project

• Sunday Underground drilling confirms shallow gold beneath historical workings
• Dumbarton results show 700m strike length of continuous gold mineralisation
• Encouraging assays support future resource estimation and open-pit potential

Special Report: Rich gold veins at Mt Malcolm Mines’ Malcolm project in WA’s Eastern Goldfields region have been shown to continue beneath historical workings, with drilling returning encouraging gold intercepts at the Sunday Underground and Dumbarton prospects.

Initial results from the inaugural eight-hole RC program at the Sunday Underground prospect confirmed shallow mineralisation is present below the Sunday workings, but still at shallow depths that present an attractive target to define open pittable ounces.

Notable assays from the 540m drill drive include 8m at 1.2g/t gold from surface including 1m at 4.05g/t from 7m (25SPRC003), 4m at 1.74g/t from 30m (25SPRC004) and 5m at 1.54g/t from 27m (25SPRC006).

Meanwhile, results from Mt Malcolm Mines’ (ASX:M2M) infill drilling at Dumbarton have highlighted the continuity of gold mineralisation over a 700m strike length.

Results such as 3m at 2.19g/t gold from 58m and 2m at 3.03/t from 59m provide impetus for future resource estimation. Given the modest scale of the drilling campaign, there’s plenty of untapped potential at both prospects.

“I am impressed by the extent of results achieved with very minimal drill metres at the Sunday Underground,” managing director Trevor Dixon said.

“The drilling has confirmed shallow gold mineralisation beneath the historic workings, while drilling at Dumbarton has demonstrated continuity of mineralisation and potential for further high-grade extensions.

“Our latest results represent an advancement in establishing a robust resource base at the Malcolm Project and underscore our commitment to unlocking the project’s full potential.”

Drill program

The South Picnic program was designed to infill historical drill spacing, improve geological confidence and validate historical high-grade intercepts at Malcolm, which sits within the famous Norseman–Wiluna Greenstone Belt in the Eastern Goldfields.

It was aiming to progress Sunday Picnic to inclusion in a maiden JORC resource estimate for the Malcolm project, and potentially a near term development opportunity.

M2M notes the Sunday Underground results demonstrate consistent mineralisation close to the surface, supporting the potential for shallow, open-pittable resources.

It adds the presence of higher-grade intervals within broader mineralised zones is particularly encouraging.

Coming activity

Results from the 14-hole infill drilling program south of the Picnic workings are still pending, which Dixon said would further refine the company’s exploration and development strategies.

These results are expected to provide further clarity on the continuity and extent of mineralisation to the south of the Picnic workings and will inform the next phase of exploration and resource planning across the Malcolm project.

During drilling, multiple stacked quartz veins were intersected within oxide and fresh rock domains, often associated with pervasive sericite, carbonate, and pyrite alteration.

This style of alteration is typical of gold mineralised areas within the project area and elsewhere in the Eastern Goldfields.

Follow-up drilling is being planned for other high-priority targets across the broader Malcolm project to advance it towards future resource estimate stages.

This article was developed in collaboration with Mt Malcolm Mines, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.