Mt Malcolm Mines is primed for long-term value creation with further strong gold recoveries at Golden Crown. Pic: Getty Images
Mt Malcolm’s Golden Crown shaping up as near-term production asset
Mining
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- Mt Malcolm Mines continues to achieve strong gold recoveries from its Golden Crown bulk sampling program
- Gravity processing recovers up to 22.4g/t gold from high-grade mineralisation near Leonora
- Results confirm Golden Crown’s potential as a near-term production asset
Special Report: Mt Malcolm Mines continues to deliver significant gold recoveries from its Golden Crown bulk sampling program, reinforcing its potential as a near-term production asset.
The latest gravity processing results recovered up to 22.4g/t gold from high-grade mineralisation at the prospect near Leonora in WA.
Processing remains ongoing, but 337oz (10,503g) of gold doré has already been recovered from 979 wet metric tonnes of ore to date.
Sales to The Perth Mint have generated $1,342,062 in revenue for Mt Malcolm Mines (ASX:M2M), with gold purity ranging between 85.6% and 95.19%.
In February alone, the company recovered 119.5oz (3719g) of gold doré from 167t of processed material.
That included Batch B7D, recovering 49.9oz (1554g) of gold doré from 76wmt, yielding 19.3g/t gold.
Batches B7E and B7F recovered 69.5oz (2165g) of gold doré from 91wmt, yielding 22.4g/t gold.
Economic potential
The latest results continue to validate the exceptional gravity gold recovery from Golden Crown.
“The strong gravity gold recoveries continue to reinforce Golden Crown’s potential as a viable near-term production asset,” M2M managing director Trevor Dixon said.
“With over 337 ounces of gold recovered to date and doré sales exceeding A$1.34 million, we are building a solid foundation for future growth.
“These efforts position Golden Crown for long-term value creation.”
What’s next?
With bulk sampling now complete, Mt Malcolm Mines is shifting focus to drill planning.
The goal is to expand high-grade mineralisation potential and advance towards near-term production.
Upcoming drilling will largely focus on extending high-grade zones and defining further mineable material.
Resource modelling and estimation will incorporate insights from bulk sampling and drilling to inform an updated mineral resource estimate.
The company will also evaluate cost-effective processing options to maximise returns from existing stockpiles.
With its sights set on turning Golden Crown into a near-term production asset, the company will look at ways toward low-capital, staged mining operations to generate early cash flow while optimising its 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.
