Mt Malcolm Mines NL (ASX:M2M) has found gold grading three grams per tonne on average – and reaching up to 42.74 – through sampling of around 2,400 wet metric tonnes of stockpiled mineralised material at its Golden Crown prospect.
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In total, 48 grab samples were taken from the stockpiled material at the Western Australian prospect, which is part of the wider Mt Malcolm gold project, located 200 kilometres northeast of Leonora.
Based on these numbers, M2M has determined economic gold grades are present within this stockpiled material – which makes it a near-term opportunity for immediate cash flow for the WA company.
The processing site still has around 980 WMT materials tailing; sampling for grade determination is complete and results are being analysed.
More evidence of economic grades is anticipated, the company added today.
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M2M managing director Trevor Dixon said the data found so far had built confidence in the quality of mineralisation at Golden Crown. “The estimated average grade of 3 g/t Au for the current stockpiles aligns with expectations and supports the objectives of the bulk sampling program,” he explained.
“These encouraging results highlight the potential to expand the known mineralised zones and advance the prospect towards commercial-scale production.”
M2M has been trading at 2.3 cents.
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