Mt Malcolm Mines (ASX:M2M) has defined multiple copper and gold targets across its Malcolm Project near Leonora in Western Australia following an integrated geological review.
Managing Director Trevor Dixon says the company is progressively developing regional geological targets that can be tested, citing Braiser and Malcolm South as examples.
“At Braiser, recent laboratory rock-chip results of up to approximately 1.37% copper occur within a geological corridor containing historical copper-cobalt occurrences, quartz veining and a recognised mafic-schist stratigraphic contact,” Dixon says.
“At Malcolm South, the target is defined by the spatial relationship between a discrete magnetic feature, interpreted structure, and geochemical datasets. Importantly, the source of the magnetic anomaly remains unconfirmed and will require drilling.”
Laboratory rock-chip analyses returned up to 1.37% copper (Cu) and 0.44 grams per tonne gold (Au) at the Braiser prospect, confirming a mineralised stratigraphic corridor with further soil anomalism defined along strike.
At Malcolm South, Mt Malcolm identified a coincident pathfinder anomaly over a high-amplitude aeromagnetic target. A 230-sample portable X-ray fluorescence (pXRF) soil program returned maximum screening values of 27 parts per million (ppm) arsenic, 28ppm antimony, and 32ppm tungsten.
Meanwhile at the Harry’s target, a 210-sample pXRF soil program identified an anomaly coincident with a magnetic low, returning up to 48ppm arsenic, 46ppm tungsten, 28ppm bismuth, 102ppm antimony, and 13,594ppm sulphur.
Finally, the Wool Shed prospect showed multi-element soil anomalism across the Malcolm Anticline axial plane, with a 250-sample pXRF soil program returning up to 68ppm copper. Mt Malcolm notes that alluvial and colluvial cover approaching 100m makes surface assessment challenging.
Dixon notes that Harry’s and Wool Shed are still considered ‘earlier-stage’ targets.
“Our follow-up programs will be tailored to their very different regolith and geological settings,” he says.
The company intends to undertake laboratory verification of the pXRF samples at Malcolm South; targeted rock chip sampling and shallow drilling at Braiser; laboratory validation of the anomaly and detailed structural mapping at Harry’s; and subsurface geochemical testing at Wool Shed.
Mt Malcolm Mines is a gold-focused explorer, with its flagship Malcolm Project located in Western Australia’s central Eastern Goldfields.
Write to Paula Fabe at Mining.com.au
Main image: Mt Malcolm Mines
