Mt Malcolm hopes for golden spread at Sunday Picnic with drilling underway

• Mt Malcolm starts 2000m drill program at intriguing Sunday Picnic prospect within Malcolm project
• This includes 1500m of Infill drilling to infill historical drilling and validate grade continuity
• Another 500m drilling to test for gold mineralisation below historical Sunday mine

Special Report: Mt Malcolm Mines has started drilling at the Sunday Picnic prospect, one of the “most technically compelling” targets at its Malcolm project in WA’s Eastern Goldfields.

The 2000m reverse circulation drill program includes ~1500m of infill drilling targeting shallow gold mineralisation across a well-defined 700m long mineralised corridor.

These holes will seek to validate the grade continuity and geometry of this mineralisation to support a JORC resource estimate by testing between historical 100-metre spaced drill lines to reduce the spacing to 50m.

Notable assays from historical drilling include 2m grading 35.35g/t gold from a down-hole depth of 89m (PNRC002) and 2m at 20.12g/t from surface (PR106).

Mt Malcolm Mines (ASX:M2M) will also carry out 500m of drilling below the historical Sunday underground mine and associated workings that produced 1325oz of gold at an average grade of 21.2g/t between 1897 and 1912.

These workings extend over a strike of ~350m.

Mining lease applications have been lodged over 15 tenements that form the Sunday Picnic prospect.

“Sunday Picnic is one of our most technically compelling targets, with strong structural controls, consistent shallow mineralisation and a history of gold production,” managing director Trevor Dixon said.

“The current drill program is designed to unlock the resource potential of this area and support Mt Malcolm’s strategy to advance into a development-ready position.”

Sunday Picnic

The Sunday Picnic area is within the Norseman–Wiluna Greenstone Belt, part of the Eastern Goldfields Superterrane of the Yilgarn Craton.

Gold mineralisation is associated with quartz–carbonate–pyrite veining, alteration assemblages as well as shallow oxide and saprolite zones that are amenable to low cost open pit mining.

M2M notes that the continuity between historical high-grade mining centres, the Sunday pit mineralisation and current drill targets demonstrates a cohesive mineralised system that is geologically robust and appears economically promising.

Many of the shallow, high-grade intercepts are directly adjacent to historical workings.

Watch: Mt Malcolm Mines building a Leonora gold base

Additionally, soil anomalies and magnetic interpretation confirm a structurally coherent, mineralised corridor that remains open along strike.

The company plans to submit all samples from drilling, which will be completed by August 2025, to SGS Kalgoorlie for fire assay with first results expected about 4-5 weeks after submission.

It will also carry out geological logging before integrating the new results with historical data into an updated 3D geological model and progress towards a JORC resource estimate.

Additionally, M2M will advance evaluation of Sunday Picnic’s low-strip, shallow mining potential.

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.