Gold focused explorer Mt Malcolm Mines (ASX:M2M) has begun designing the next phase of work for its Calypso “Constance Lode” discovery following the ‘substantial’ progress made over the first half of 2023.
The $2.96 million market capitalisation company says work undertaken to date has been in line with its goals of advancing prospect assessments, as well as progressing and developing exploration and critical mineral commodities.
Mt Malcolm reports during this time it has also compiled the entire geological map of its Malcolm Gold Project for the first time, which represents the basis for discovering the next generation of deposits.
What’s more, the company notes the Golden Crown deposit is now drill-ready and the Mt Stewart deposit has been prepped for a first-pass 3D model to identify further drill targets.
With these milestones already achieved, Mt Malcolm announces the prioritisation and ranking of targets will be regularly communicated through exploration pipeline updates as work is completed.
Work on volcanic-hosted massive sulphide (VHMS) at Malcolm Dam is ongoing, though further geophysics is required to progress the opportunity to drill target definition stage, Mt Malcolm says.
The company also notes that further evaluations at the Malcolm Mining Centre (MMC) rare earth element (REE) opportunity are progressing, with whole rock geochemistry results expected this quarter.
Addressing the exploration, Mt Malcolm Mines Managing Director Trevor Dixon says: “The geological team engaged in a comprehensive science-based review during the first half of 2023, defining numerous opportunities across a range of mineral commodities throughout our portfolio of prospects.
“The geological team engaged in a comprehensive science-based review during the first half of 2023“
Further releases with respect to detailed exploration and drill program planning on individual prospect opportunities are to follow.”
Mt Malcolm Mines is an ASX-listed gold explorer that has assembled a ‘comprehensive’ prospective tenement package surrounding the MMC in the Central Eastern Goldfields about 10-25km east of the township of Leonora.
The company’s ‘extensive’ Malcom project is located in Western Australia and comprises 9 major prospect areas.
These prospect areas include the Mt George, Emu Egg, Germatong and Rabbit Warren South, Pig Well, Sunday to Picnic Shear Zone, Malcolm Dam including Golden Crown and Malcolm King, Malcolm Mining Centre, Mt Stewart including Paleochannel, and Calypso.
Write to Adam Drought at Mining.com.au
Images: MT Malcolm Mines
