Mt Malcolm Mines (ASX:M2M) is aiming to deliver a maiden Mineral Resource Estimate (MRE) in the new year for its Golden Crown prospect in Western Australia.
Speaking to Mining.com.au, Mt Malcolm Managing Director Trevor Dixon says the company expects to get through drilling during the December quarter this year and will then most likely deliver a maiden MRE in 2024.
Dixon says: “What we’re looking to do there is to deliver a maiden mineral resource there, but importantly, we’re looking at high-grades.”
This news comes after today’s ASX announcement in which the company reported it had defined an exploration target at the Golden Crown prospect of 150,000 tonnes to 120,0000 tonnes at a grade range of 10 to 15 grams per tonne (g/t) gold (Au).
Golden Crown is the first of the gold and base metals explorer’s key prospects earmarked for model review and drill planning as part of Mt Malcolm’s exploration strategy.
The company says the proposed drilling program will be the third reverse circulation (RC) drill program conducted on the lease by Mt Malcolm.
This will be a shallow closely spaced RC program to potentially enable the estimation of an MRE at Golden Crown, based on the current interpolation of reported and historical mineralised drill intercepts, coupled with gold shoot repetition, historical mining head grades of 29g/t Au, and the dimensions of the multiple mineralised envelopes.
“we’re going forward with a whole lot of confidence on this one”
Dixon says: “We’ve characterised the lithologies, the structures, and the alteration within the system there. We have sufficient exploration drillholes to make that assessment now. So we’re going forward with a whole lot of confidence on this one.”
The Mt Malcolm Gold Project comprises 9 wholly owned prospect areas, including Golden Crown in the Leonora region of Western Australia.
Mt Malcolm Mines is a gold-focused exploration company that holds a tenement package of about 274km-square surrounding the Mt Malcolm mining centre in the Central Eastern Goldfields of Western Australia.
As of 30 June 2023, the company had $744,000 cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Mt Malcolm Mines
