Mt Malcolm stockpile sampling proves Golden Crown commercial potential

Mt Malcolm Mines finds plenty of economic material in Golden Crown bulk sampling stockpiles
About 2442WMT of material grading 3g/t is estimated to be present within five stockpiles
Results from sampling of mineralised tailings imminent to determine potential for heap leach processing recovery

Special Report: Mt Malcolm Mines’ preliminary evaluation of stockpiles at the Golden Crown prospect demonstrates that more than 2400 wet metric tonnes of economic material grading an average 3g/t gold is present.

There were 48 grab samples taken from five stockpiles of material collected for the recent bulk sampling program designed to evaluate the metallurgical characteristics, mining parameters, grade distribution and mineability of the prospect within the Malcolm project near Leonora, WA.

These samples returned grades of up to 42.74g/t gold, which Mt Malcolm Mines (ASX:M2M) said showcased the high-grade nature of the mineralisation.

More importantly, it underscores the opportunity to use the stockpiled material to deliver near-term cash flow.

“The stockpile sampling results have reinforced confidence in the high-grade mineralisation at Golden Crown,” managing director Trevor Dixon said.

“The estimated average grade of 3 g/t Au for the current stockpiles aligns with expectations and supports the objectives of the bulk sampling program.

“These encouraging results collectively highlight the potential to expand the known mineralised zones and advance the prospect towards commercial-scale production.”

Stockpiles at Golden Crown. Pic: Mt Malcolm Mines

Stockpile evaluation

M2M had in November 2024 carried out LiDAR surveys that served as the primary basis for volume estimates of the stockpiles.

This high-resolution survey work ensured reliable volume calculations though the estimates for the E stockpile are indicative and derived from site measurements.

This was followed by the collection of the 48 grab samples which were carefully selected and evenly distributed across each stockpile to ensure representative coverage.

However, the results are considered to be indicative only with the company planning to carry out additional targeted sampling/drilling to confirm grade continuity and refine its estimates.

The recently completed bulk sampling program at Golden Crown confirmed the presence of high-grade gold with gravity recovery reaching up to 22.4g/t gold per processed WMT.

It has also delivered 337oz of gold doré from 979WMT to date, which generated cash flow and provided critical geotechnical data for optimising pit slope stability and excavation planning.

Additionally, it enhanced geological understanding, improved resource modelling and mine planning and enabled a more targeted exploration approach.

Watch: Trumpets sound for Golden Crown

Next steps

Results are pending for sampling of ~980WMT of mineralised tailings at the processing site.

These tailings are derived from the gravity processing of bulk sampled mineralised material between September 2024 and February 2025 with the company expecting economic grades which can be recovered through heap leach processing.

M2M’s upcoming drilling will focus on extending high-grade zones and defining additional mineable material while insights from bulk sampling and drill results will be incorporated into an updated resource model for improved accuracy in resource estimation.

The company will also evaluate cost-effective processing options to maximise returns from existing stockpiles and advance the project towards low-capital, staged mining operations to generate early cash flow while optimising long-term development.

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.