THE CONFERENCE CALLER: Mt Malcom Mines (ASX: M2M) managing director Trevor Dixon explains the company’s recent ‘proof of concept’ at its Malcom gold project in Western Australia to Wally Graham of The Resources Roadhouse while attending the 2025 RIU Explorers Conference.
THE DRILL SERGEANT: Mt Malcolm Mines (ASX: M2M) has continued to make gold recovery advancements from the company’s bulk sampling program at its Golden Crown project in Western Australia.
Mt Malcolm Mines’ latest gravity processing results have provided further confirmation of the high-grade nature of the mineralisation, reinforcing its potential for near-term production.
Recent highlights include:
• 337 ounces (10,503 g) of gold doré recovered from 979 WMT (Wet Metric Tonnes) to date, with further processing ongoing.
• $1,342,062 revenue generated from doré sales to The Perth Mint, with doré purity ranging from 85.6 to 95.19 per cent gold.
• 49.9 ounces (1,554g) of gold doré recovered from 76 WMT of mineralised material in Batch B7D.
• 69.5 ounces (2,165g) of gold doré recovered from 91 WMT of mineralised material in Batches B7E and B7F.
• 19.3g/t and 22.4g/t Gravity-Recovered Gold (GRG) from Batches B7D and B7E-B7F respectively confirm high-grade gold mineralisation.
Mt Malcolm Mines managing director Trevor Dixon updates Wally Graham on progress at the RIU Explorers Conference
“The strong gravity gold recoveries continue to reinforce Golden Crown’s potential as a viable near-term production asset,” Mt Malcolm Mines managing director Trevor Dixon said in the company’s ASX announcement.
“With over 337 ounces of gold recovered to date and doré sales exceeding $1.34 million, we are building a solid foundation for future growth.
“These efforts position Golden Crown for long-term value creation.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
THE CONFERENCE CALLER: The RIU Explorers Conference kicking off in Fremantle next week will have a bit of everything for everyone ranging from positive drilling results to on-market takeover bids. We can’t wait.
Patronus Resources’ Makes Matsa Resources Takeover Bid Just in Time for RIU Explorers
THE CONFERENCE CALLER: A takeover bid by Patronus Resources (ASX: PTN) for Matsa Resources (ASX: MAT) provides next week’s RIU Explorers Conference a bit of colour.
Carnaby Resources Drills Further Encouragement at Greater Duchess
THE DRILL SERGEANT: Carnaby Resources (ASX: CNB) released results from a recent busy round of drilling completed at the company’s Greater Duchess copper gold project in Mt Isa, Queensland.
Black Cat Syndicate Resumes Paulsens Underground Drilling
THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) is conducting underground drilling at the company’s Paulsens gold operation in Western Australia.
Critica Declares Jupiter Maiden Resource as Australia’s Largest Clay Hosted REE Resource
THE DRILL SERGEANT: Critica (ASX: CRI) released, what the company claims as being, the “largest and highest-grade clay hosted rare earth resource”, in Australia.
Hot Chili Confirms LaVerde Copper-Gold Porphyry Discovery
THE DRILL SERGEANT: Hot Chili (ASX: HCH) declared confirmation of a copper-gold porphyry discovery at the La Verde copper-gold discovery near the company’s Costa Fuego copper-gold project in Chile.
Matsa Resources Encounters High-Grade Gold Intercept at Fortitude North
THE DRILL SERGEANT: Matsa Resources (ASX: MAT) rebuked a take over offer from Patronus Resources (ASX: PTN) while announcing a high-grade gold intercept at the company’s Lake Carey gold project in Western Australia.
Mt Malcolm Mines Producing Gold Sales from Golden Crown Bulk Sampling
THE DRILL SERGEANT: Mt Malcolm Mines (ASX: M2M) continues to produce gold recoveries of note from the company’s Golden Crown prospect in Western Australia.
Red Metal Confirms REO Continuity via Infill Drilling at Sybella Discovery
THE DRILL SERGEANT: Red Metal (ASX: RDM) has drilled confirmation that of wide zones of rare earth oxide mineralisation continue at the company’s Sybella rare earth discovery near Mt Isa.
THE DRILL SERGEANT: Mt Malcolm Mines (ASX: M2M) continues to produce gold recoveries of note from the company’s Golden Crown prospect in Western Australia.
The Golden Crown prospect is part of the company’s Malcolm project located near Leonora in WA, a region is known for rich gold deposits and a history of mining operations.
Mt Malcom Mines 2024 drilling programs identified a mineralised corridor measuring 50m in length and 15m in width characterised by high-grade gold mineralisation and visible gold occurrences.
The company has also been undertaking bulk sampling excavation at Golden Crown, resulting in the processing on stockpiles left by previous owners that is now achieving gold recoveries healthy enough to be generating substantial revenue.
In January, Mt Malcom produced 95.54 ounces (2,972g) of doré from the processing of 200 WMT (Wet Metric Tonne) of ultra high-grade material using wet gravity recovery.
Doré sales to The Perth Mint generated $835,462 with gold purity ranging from 85.6 per cent to 94.5 per cent gold.
“The successful completion of the bulk sampling excavation program with no loss time injuries (LTI) at Golden Crown marks a major milestone for Mt Malcolm,” Mt Malcom Mines managing director Trevor Dixon said in the company’s ASX announcement.
“The recovery of gold doré through gravity processing strengthened our confidence in the economic potential of the prospect.
“As processing continues our forward focus will turn to advancing resource estimations, evaluating monetisation options for stockpiled material, and optimising future mining strategies at Golden Crown.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
THE DRILL SERGEANT: Mt Malcolm Mines (ASX: M2M) followed up its appearance at The Roadhouse Steak Sandwich Showdown in Kalgoorlie with an announcement of excellent gold recovery results.
Mt Malcolm Mines achieved the results via gravity separation of tailings samples taken from the company’s Golden Crown deposit outside Kalgoorlie in Western Australia.
The company said the results indicate high achievable recovery while contributing to the total recovery from the gold mineralisation at Golden Crown.
The recent processing study at Golden Crown yielded promising results on the back of high-grade intercepts earlier drilling that was reported in July.
The Accelerated Cyanide Leach Leachwell (ACL) testwork achieved an average gold recovery of 94.6 per cent gold from tailing samples.
This result is consistent with the earlier testwork results of 94.3 per cent gold average recovery the company released in May.
“The recent testwork on gold recovery from tailings has shown significant value, boosting confidence in the economic viability of processing high-grade material from the ongoing bulk sampling exercise,” Mt Malcolm Mines managing director Trevor Dixon said in the company’s ASX announcement.
“This detailed processing approach aims to maximize gold recovery and thoroughly evaluate the prospect’s potential for small-scale mining operations and commercial gold extraction.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
COMMODITY CAPERS: Hump day arrived this week bringing with it a gold price of US$2,473.40 per ounce, giving gold producers and explorers alike something to smile about.
With his recently pinged right ear bandaged up for his arrival at the Republican Party love-in, prospective POTUS, Donald Trump could be given some credit for the spike in the most precious of metals’ pricing.
Gold has received quite a bit of attention of late, mainly due to a concerning rise in geopolitical tensions.
The concerns have resulted in renewed consolidation of its ‘safe haven’ status with it being a physical, relatively scarce asset that has historically held its value in times of global uncertainty.
Trump’s obfuscation over America’s support for The Ukraine in the Russia Ukarine war and his prior pacification of Russia – and by extension its leader Vladimir Putin – over the suspected Russian interference in his 2016 election have gold buyers forming queues around the world looking to shore up a secure store of value.
Gold has been on a healthy run, averaging about US$2,200 an ounce in the first half of 2024, up 15 per cent year-on-year due to strong demand from investors and even more from central banks.
Central bank buying has been at historic highs over the past two years, which has continued in 2024.
If you guessed China is the leading central bank gold purchaser, then you move one step away from The Chaser.
“China is the leading central bank gold purchaser in a move many see as part of the trend towards “de-dollarization” i.e countries distancing themselves from the USD as the global reserve currency,” Shaw and Partners noted in it’s the Research Monitor September Quarter 2024 report.
“Chinese consumers have flocked to gold as their confidence in investments like real estate or stocks, that have traditionally performed well, has faltered.”
The bean counters at the Office of the Chief Economist have forecast gold prices to remain elevated throughout 2024 and 2025, before easing slightly in 2026.
This, it said in the Department of Industry Science and Resources June 2024 Resources and Energy Quarterly rolled on the back of a year-on-year four per cent decrease in Australian gold production in the March quarter 2024, due to lower grades and disruptions from heavy rainfall.
“Production is forecast to grow over the outlook period as major new projects and expansions come online,” DISR said.
“Gold export earnings are expected to reach a record $33 billion in 2023 24, easing to around $31 billion in 2025–26 as prices gradually decline from record levels in Australian dollar terms.
Shaw and Partners identified that although the gold price climbed in 2023, funds raised by junior and intermediate gold companies continued to decline for the second consecutive year.
“Unlike major producers that self-fund their exploration, juniors heavily rely on capital markets to fund their programs,” Shaw and Partners said.
“In the past three years, junior companies accounted for more than 50 per cent of total exploration budgets.
“Constrictive market conditions for gold consequently reduced the exploration budgets in 2023 by 16 per cent YoY to US$5.9B with IR related exploration budgets declining 19 per cent YoY to US$2.5B, the lowest since 2020.”
This hasn’t stopped some juniors from making an impact.
Great Boulder Resources (ASX: GBR) has been busy of late at the company’s Side Well gold project near Meekatharra in Western Australia.
The company most recently announced having identified two new large, high-priority gold targets at the Side Well gold project via soil auger sampling.
The first is a 2.4 kilometres-long Ironbark-style target with peak gold values of 75ppb gold with the second being a 1.4km-long bismuth-molybdenum anomaly, displaying the same pathfinder elements as Mulga Bill, including bismuth assays up to 475 times background levels.
“We recently completed a program of wide-spaced surface sampling over the Side Well South area, extending coverage to the bottom of the Side Well project,” Great Boulder Resources managing director Andrew Paterson said.
“This data has confirmed mineralisation continues south through our tenements and the known hydrothermal system now covers more than 18 kilometres of strike.
“At Side Well South we’ve identified two new targets collectively spanning 3.8 kilometres of strike.”
The company had earlier completed aircore (AC) drilling at the project’s Mulga Bill North target that added definition to gold mineralisation approximately 500m north of the Mulga Bill resource envelope.
The company explained on announcing results that the program is part of an ongoing process it is carrying out to identify and define additional gold mineralisation to expand the existing 568,000 ounces gold Mulga Bill Mineral Resource.
Highlights include:
24SWAC214
12m at 2.61 grams per tonne gold from 88m, including 4m at 4.27g/t gold from 93m;
24SWAC216
4m at 5.03g/t gold from 84m and 3m at 2.31g/t gold from 112m;
24SWAC211
3m at 2.68g/t gold from 114m; and
24SWAC220
9m at 1.95g/t gold from 100m.
Earlier drilling at the northern end of Mulga Bill, resulted in Great Boulder claiming discovery of a new shallow high-grade vein extending approx. 150 metres north of the Side Well JORC Mineral Resource of 7.45 million tonnes at 2.8 grams per tonne gold for 668,000 ounces of gold.
Highlights from the recent campaign include:
24MBRC001
32 metres at 8.38 grams per tonne gold from 104m, including 18m at 13.76g/t gold from 104m;
24MBRC002
16m at 2.12g/t gold from 108m, including 4m at 5.68g/t gold from 108m; and
24SWAC194
26m at 3.31g/t gold from 88m, including 8m at 10.02g/t gold from 88m.
The new vein discovery at Mulga Bill extends into Mulga Bill North, where drilling has defined gold mineralisation over 1.5km of strike.
“This is an extremely exciting development at Mulga Bill, with the discovery of a thick high-grade vein immediately north of the current Mulga Bill resource,” Paterson said.
“Our drilling has defined it over 150 metres of strike, with indications that it could extend 350 metres or more.
“This new discovery connects the Mulga Bill and Mulga Bill North prospects.”
Mt Malcolm Mines (ASX: M2M) is making solid progress at the company’s Golden Crown gold prospect in Western Australia.
The company has carried out activities with the aim of establishing the feasibility of wet gravity processing at a nearby third-party plant while assessing the mineability of the shallow high-grade ore at the prospect.
A Reverse Circulation (RC) drilling program completed earlier this year outlined a well-defined mineralised area, which the company considers a solid foundation for robust maiden Mineral Resource Estimates.
The RC drilling produced the highest recorded intersection for Golden Crown of:
24GCRC060
6 metres at 24.46 gras per tonne gold, including a broad high-grade zone of 10m at 15.4g/t gold.
Other high-grade intercepts included:
24GCRC032
4m at 3.29g/t gold (20-24m);
24GCRC033
4m at 5.23g/t gold (22-26m);
24GCRC048
3m at 6.88g/t gold (0-3m); and
24GCRC059
4m at 4.43g/t gold (14-18m).
The drilling entailed 18 shallow grade control drillholes along three designated lines, within an area designated to support bulk sampling testwork that is hoped to demonstrate the economic viability of processing of upcoming bulk samples in the wet gravity plant, offering crucial insights into resource development potential.
“The primary objective of the Golden Crown bulk sampling work is to enhance our understanding of the ore’s geological properties, such as grade variance, metallurgical characteristics, and future mineability,” Mt Malcolm managing director Trevor Dixon said.
“This information is crucial for our future planning of efficient and cost-effective mining operations.
“The bulk samples will assist in verifying gold grade and continuity at Golden Crown whilst also evaluating the feasibility for any potential future mining operations that can provide a saleable gold product to the company.”
THE DRILL SERGEANT: Mt Malcolm Mines (ASX: M2M) reported on recent activity at the company’s Golden Crown gold prospect in Western Australia.
Mt Malcolm Mines has just completed a program of grade control reverse circulation (RC) drilling and commenced bulk sampling as well as an ore processing study at the Golden Crown prospect.
The drilling entailed a 522 metre RC drilling campaign, including two holes testing northern extensions of the eastern lode.
A further 18 grade control drillholes were completed to support the bulk sampling program.
Samples have been submitted to SGS Kalgoorlie for analysis, with results expected within a fortnight.
A test study processing seven composite samples from the company’s February 2024 RC drilling program is being performed, using wet gravity separation at a nearby third-party plant.
A comprehensive bulk sampling program has commenced, targeting up to approx. 8,000 tonnes of high-grade ore.
“The company is excited with the progress at the Golden Crown prospect in 2024,” Mt Malcolm Mines managing director Trevor Dixon said in the company’s ASX announcement.
“The current bulk sampling and test study on ore processing is poised to mark another significant milestone.
“These activities aim to establish the feasibility of wet gravity processing at the nearby third-party plant and assess the mineability of the shallow high-grade ore at the Golden Crown prospect.
“I would like to commend our team for their exceptional work in achieving these significant advancements.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
THE DRILL SERGEANT: Mt Malcolm Mines (ASX: M2M) declared recent drilling results had greatly progressed exploration at the company’s Golden Crown prospect near Leonora in Western Australia.
Mt Malcolm Mines received assay results for recently carried out Reverse Circulation (RC) drilling focused on a target corridor, specifically targeting areas the company had identified through geological modelling as potential hosts for plunging ore shoots.
The drilling returned the highest ever recorded intersection from Golden Crown of:
24GCRC060
6 metres at 24.45 grams per tonne gold (12-18m) within a broader mineralised high-grade zone of 10m at 15.4g/t gold (10-20m), including 2m at 51.07g/t gold (16-18m), which included 1m at 60.55g/t gold (17-18m) and 2m at 5.05g/t gold (5-7m), including 1m at 8.07g/t gold (6-7m).
The drilling returned 16 Intercepts of greater than 5g/t gold, including seven greater than 10g/t gold, including five greater than 15g/t gold and including three greater than 3g/t gold, which Mt Malcolm said showcased the high-grade nature of the mineralisation.
“Golden Crown Prospect Resource Definition drilling results have returned the highest ever assay results within shallow mineralisation providing an ideal environment for cost effective mining operations,” Mt Malcolm Mines managing director Trevor Dixon said in the company’s ASX announcement.
“Focused work from our geological team has delivered a breath of new life into this classic old producer from a bygone era.
“We are committed to achieving critical milestones whilst advancing Golden Crown towards development.”
The company indicated the assay results from this drilling campaign will lay the basis for preparing the Maiden Mineral Resource Estimate for the prospect.
Golden Crown is the first of several key prospects within the company’s portfolio undergoing detailed exploration and project development.
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
THE DRILL SERGEANT: Mt Malcolm Mines (ASX: M2M) is has recommenced diamond drilling at the company’s Calypso prospect in Western Australia.
Mt Malcolm Mines explained the five-hole drill program follows on from previous drilling and is designed to test mineralised magnetite-altered porphyry zones that demonstrate increasing widths at depth.
The objectives of the current diamond drill program include a deep hole designed to test the lithological and structural architecture that was proposed off the back of the initial diamond drilling campaign.
It is anticipated this will provide understanding of the potential size of the mineralised system and delineate the targeting framework at depth.
The program is also aimed at extending the known mineralisation footprint beyond two previously reported holes that contained healthy significant gold intersections.
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Web: www.mtmalcolm.com.au
THE DRILL SERGEANT: Mt Malcolm Mines (ASX: M2M) reported receipt of remaining assays and completion of an inaugural RC drilling program at the company’s Golden Crown prospect near Leonora in Western Australia.
Mt Malcolm Mines encountered noteworthy gold intercepts from the nine RC holes for an advance of 860 metres.
Assay results for the RC drill program include:
21GCRC001
1 metres at 0.54 grams per tonne gold (19-20m) and 2m at 0.59g/t gold (32-34m)
3m at 11.97g/t gold (37-40m) including 1m at 33.61g/t gold (37-38m); and
21GCRC003
2m at 0.92g/t gold (19-21m) and 7m at 0.34g/t gold (25-31m) and 1m at 0.66g/t gold (62-63m).
“The Golden Crown prospect is shaping up well with several high-grade gold intersections received to date,” Mt Malcolm Mines managing director Trevor Dixon said in the company’s ASX announcement.
“Limited drilling has confirmed and identified high-grade shallow gold mineralisation that remains open along strike and completely open at depth.
“The prospect is at an early exploration stage and warrants further follow-up RC drilling.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: info@mtmalcolm.com.au
Web: www.mtmalcolm.com.au
