Mt Malcolm Mines (ASX:M2M) has launched a 65-hole reverse circulation (RC) drilling program across its Golden Crown tenement in Leonora, Western Australia, to test for gold mineralisation in the area.
Under the program, the junior explorer plans to drill closely-spaced holes for 2,475m, with the exploration target at Golden Crown estimated in the range of 120,000 tonnes to 150,000 tonnes at a grade of between 10 grams per tonne (g/t) and 15 g/t gold.
The drilling program follows a ‘comprehensive’ geological review of the tenement, which Mt Malcolm regards as a ‘significant producer’ hosting several old stopes and shafts and boasting historical gold production of 1,720 ounces @ 29g/t Au.
Further, historical RC drilling in the area returned results including 4m @ 10.4 g/t Au from 32m in hole MSR 344, 4m @ 5.01g/t Au from 17m in hole MRC 53, and 8m @ 3.2g/t Au from 29m in hole MRC 67.
Mt Malcolm says following its data compilation, inaugural drill campaigns, geochemical analysis, and surface mapping, it has identified a shallow drill target envelope in the tenement area.
According to the company, geological modelling indicates new shallow north-plunging hangingwall ore shoots, which represent a 100m-wide target corridor.
The RC drilling is designed to test these gold lodes and extensions.
Golden Crown marks the first of Mt Malcolm’s key prospects earmarked for model review and drill planning as the company works to build a ‘high-grade’ resource base and develop a sustainable production base within 2 years.
Write to Joshua Smith at Mining.com.au
Images: Mt Malcolm Mines
