Aussie-listed Mt Malcolm Mines says it’s about to hit the ground running at its exciting Calypso gold prospect, with diamond drilling to follow up on a string of exciting anomalies.

The anomalies were identified within a prospective greenstone sequence from data collected during a recently completed geophysics gravity survey at Mt Malcolm’s (ASX:M2M) broader namesake project near Leonora.

A program of diamond drilling to 500m is already planned out and set to head goldwards this month, with the primary aim of targeting and testing the four clear anomalies.

Mt Malcolm Mines ASX:M2M

Anomalies. Tasty, tasty M2M anomalies. Pic: supplied.

The targets, as they’re interpreted at Calypso, take an almost hand-like form, appearing to be connected by what the company reckons is something fascinatingly large and rich in gravimetric detail.

“Below the target stocks there is an extremely large, high-gravity response forming the shape of a palm of a hand facing upwards, with fingers extended vertically upwards towards the surface,” the company said in an announcement.

It presents as strangely as it looks, like some kind of anomaly King Kong hand.

Mt Malcolm Mines M2M

An isometric view of three of the four gravity target areas, with tops identified at depths between 105-180m and sitting above a deeper large and extremely high-density gravity response. Proposed drilling is identified in yellow. Pic: supplied.

A review of the historical drilling database and results from recent drilling revealed in some areas the anomalies have been insufficiently drilled, and in others they’ve been missed altogether.

“In some instances, fences of drilling pass nearby and either side of the anomalies,” the company said.

The plan from here

The rigs are about to touch down. Planned drilling will target the best existing gold mineralised intervals defined to date at Calypso, as well as three of the four identified gravity anomalies.

Initially, the focus will be on testing the areas down dip of and in between historic significant mineralised intersections, designed to confirm continuity between the intersections, up and down dip extensions, and to identify plunge components to the mineralisation.

Shallow mineralisation defined at Calypso North will also be targeted with three drill holes, which are designed to identify the down-dip extensions to mineralisation and enable more precise targeting of future drilling of the mineralised structure in the area.

A further drill hole is planned to target a shallow extension of the main gravity anomaly, with another to intersect the heart of the anomaly at depth – intersecting the complete stratigraphy known to host the gold mineralisation in the area.

Mt Malcolm said the information from this drill hole would greatly assist in determining the geological structure of Calypso and had potential to intersect significant mineralisation in multiple structures.



This article was developed in collaboration with Mt Malcolm, 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.