Mt Malcolm hunting for gold amongst the giants of the Leonora Goldfields
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Since listing late last year, Mt Malcom has hit the ground running at its 270km2 of tenure at the Malcolm gold project in the Central Eastern Goldfields of WA.
The gold explorer is hoping to strike paydirt in and around the multimillion-ounce Leonora and Laverton goldfields in WA, home to major mining operations like the Granny Smith gold mine, Sunrise Dam, King of the Hills, Gwalia and Mt Morgans.
Mt Malcolm Mines (ASX:M2M) MD Trevor Dixon says drilling to date at the Golden Crown, Calypso, and Dumbarton prospects has returned high-grade intercepts.
“We are pursuing both brownfields and greenfields targets in the historical region,” he says.
“High impact Diamond Drilling over geophysical anomalies at Calypso is currently underway, and BHP (ASX:BHP) previously did some good work there that has led to an exploration target at Calypso of around some 200,000 ounces.
“Whilst Calypso is our most advanced target right now, we also have drilling campaigns being conducted at Dumbarton’s and Dover Castle before the end of financial year – which will feed into a maiden resource later this year.” “We are only just beginning to scratch the surface of our extensive tenement package and have recently bolstered our geological team to assist in systematic evaluation and exploration of target areas.”
Mt Malcom’s project is right near the Western boundary of Genesis Minerals (ASX:GMD) 2Moz Leonora project – a company with WA School of Mines graduate and gold mining veteran Raleigh Finlayson at the helm.
Rumours abound that Northern Star (ASX:NST) may even consider selling Carosue Dam for the right price.
“There’s plenty of M&A activity on the horizon in the region in the next 6-12 months with the area being long milling capacity but short ore which is an issue Mt Malcolm seeks to capitalise on. Given our central location and close proximity to three large hungry mills which are running significantly under nameplate capacity, several of our high grade prospects have great potential to become very valuable to these companies in a short space of time following resource drill out programmes currently underway.” Dixon says.
“And M2M is firmly placed in the box seat, with our extensive 270km2 of tenure along the geological structure of the Keith-Kilkenny Tectonic Zone which runs some 300km through the Yilgarn craton – which is a main mineral bearing rock unit within WA.
This article was developed in collaboration with Mt Malcolm Mines NL, 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.