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Mt Malcolm Mines NL (ASX:M2M) has poured its inaugural doré bar as part of a bulk sampling program at its Golden Crown prospect in Western Australia, while also reporting an assay of 458.39 grams per tonne in gold from rock chip samples in the area.
Two gold doré bars – each weighing 13.85 ounces (or 431 grams) – were poured through the bulk sampling program, representing a significant milestone for M2M.
The company has also processed its first parcel – comprised of 167 tonnes of mineralised material – at a nearby gravity processing facility for Gravity Recoverable Gold (GRG), while bulk sampling continues at the prospect to delineate both metallurgy and mining parameters.
Drilling in February identified a mineralised corridor measuring 50 metres in length and 15 metres in width, which has since become the focus of bulk sampling.
Within the mineralised zones, 30 rock chip samples have been taken, with the 458.39g/t assay the highest-grade. Eleven samples contained grades of more than 5g/t and visible gold has also been spotted among the samples.
M2M managing director Trevor Dixon said the company was continuing to see important achievements reached at the prospect, which is located in a mining area of the same name that already produced 1,720 ounces of gold between1899 and 1904.
“The inaugural gold doré bar represents a significant achievement in the gravity processing at Golden Crown, and we are thrilled to have reached this key milestone,” he said.
“These promising results strengthen our confidence in the prospect’s economic potential, and we are excited to proceed with further work to unlock its full value.”
M2M shares went up on the news, and at 11:12 AEDT, they were trading at 4 cents – a rise of 2.44% since the market opened.
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