Mt Malcolm Mines cracks on with studies at Golden Crown

Mt Malcolm Mines finishes RC drilling at high grade Golden Crown gold prospect
Prospect is first of several in historically producing Malcolm Dam project
Bulk sampling has begun, with assays pending from 18 holes
Ore processing study underway to assess mineability of the shallow high-grade ore

Special Report: Mt Malcolm Mines has begun bulk sampling and an ore processing study at the Golden Crown prospect in WA.

Golden Crown is the first of several prospects within Mt Malcom Mines’ (ASX:M2M) 275km² Malcolm project slated for development.

It was a historically significant gold producer that yielded more than 1720oz at an average grade of 29g/t gold but has seen relatively minor exploration since.

Previous work by M2M delivered an exploration target of between 120,000t and 150,000t grading from 10 g/t to 15 g/t gold for Golden Crown, or about 42,000-79,000oz of gold.

More recently, reverse circulation drilling focused on a 150m by 120m target corridor interpreted to host plunging ore shoots returned a peak assay of 1m grading 61.39g/t gold between 16-17m and five intercepts above 15g/t gold.

Metallurgical testing has also proven remarkably successful with preliminary work using direct cyanide leaching on five samples composited from 25 mineralised single-metre intervals – sourced from four of its February 2024 drillholes – returning recoveries exceeding 93%.

Ore processing study underway

To date, 18 grade control drillholes have been completed to support the bulk sampling program, which is targeting up to ~8,000 tonnes of high-grade ore.

The company expected to receive assay results within the fortnight.

Meanwhile, a test study processing seven composite samples from the February 2024 RC drilling program is now underway, using wet gravity separation at a nearby third-party plant.

“The company is excited with the progress at the Golden Crown prospect in 2024,” managing director Trevor Dixon said.

“The current bulk sampling and test study on ore processing is poised to mark another significant milestone.

“These activities aim to establish the feasibility of wet gravity processing at the nearby third-party plant and assess the mineability of the shallow high-grade ore at the Golden Crown Prospect.”

Solid foundation for a maiden resource estimate

The February 2024 RC drilling program has delineated a well-defined mineralized area, providing a solid foundation for robust maiden mineral resource estimates.

The commencement of bulk sampling is a significant milestone toward the advancement of this shallow high grade gold prospect.

The company remains focused on resource estimation, further metallurgical studies, and environmental assessments as it pursues the next phase of exploration and development at Golden Crown Prospect.

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.