Mt Malcolm Mines recovers 48.5oz gold doré at Golden Crown

Mt Malcolm has recovered 48.5 ounces (or 1510 g) of gold doré to date at the Golden Crown prospect
Golden Crown mineralisation exhibits high gold recovery via gravity and leach methods
Bulk sampling continues to generate revenue

Special report: Mt Malcolm’s bulk sampling program, initiated to evaluate the economic potential of the Golden Crown prospect, has produced a total 48.5oz of gold doré bars from the processing of 443 tonnes of mineralised material.

This includes 34.7oz of gold recovered during the latest phase in October and throughout November.

Around 276t of mineralised material was processed at a nearby gravity processing facility while another 13.8oz of gold was produced from the processing of 167t of material.

The gold doré bars were sold to the Perth Mint refinery, generating a payment of $170,546 with the purity ranging from 85.6% to 90.4%.

Project de-risking

Bulk sampling plays a pivotal role in advancing the development and understanding of mineralisation, with grade reconciliation at M2M’s Golden Crown prospect aligning closely with drilling results – enhancing confidence.

Mt Malcolm (ASX:M2M) believes the Golden Crown mineralisation exhibits high amenability to both gravity recovery and leach processing, further de-risking the potential for future mining operations.

The higher-grade Golden Crown mineralisation has produced gold recovery results that confirm the strong suitability for efficient gravity processing techniques whilst providing critical insights for future targeted and cost-effective exploration.

The remaining mineralised material is being stockpiled into low grade and medium grade categories, with options currently under evaluation to monetise the material.

‘Critical insights’

“The higher-grade Golden Crown mineralisation has produced gold recovery results that confirm the strong suitability for efficient gravity processing techniques whilst providing critical insights for future targeted and cost-effective exploration,” M2M managing director Trevor Dixon said.

The Golden Crown prospect is part of the company’s wider Malcolm project, covering a large semi-contiguous area of approximately 200km2, northeast of Leonora.

This region, well-known for its rich gold deposits and a rich history of mining operations, is home to several notable gold mines including the Genesis (ASX:GMD) Gwalia mine, one of Australia’s largest and deepest gold mines, just 12km southwest of Golden Crown.

The Golden Crown Prospect itself has contributed to the region’s gold production in the past.

With its favourable geology and historical contributions, the Golden Crown mine represents a key site within the Leonora region, benefiting from established infrastructure including access roads and nearby processing facilities.

What’s next?

The stacked, shingle-like arrangement of overlapping veins and the presence of multiple phases of mineralisation at Golden Crown highlight the site’s potential for significant mineralisation.

The results also provide valuable insights into the movement and stress directions within the surrounding rocks, offering a deeper understanding of Golden Crown’s geological history.

M2M says the geological information collected so far will guide the next stage of drill planning.

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.