Mt Malcolm Mines to put more shine into Golden Crown with upcoming maiden resource

Mt Malcolm Mines starts RC drilling to define a maiden gold resource at Golden Crown
Golden Crown has historical high-grade gold production and drill intersections
Shallow drill target envelope identified follows dip of volcanic stratigraphy and exploration target

Special Report: Mt Malcolm Mines has started reverse circulation drilling at its brownfields Golden Crown gold prospect to advance its strategy of building high-grade resources to support a sustainable production base.

Golden Crown is a historical gold producer, previously churning out 1,720oz at a very high-grade of 29g/t gold from several stopes and shafts.

Since production ceased, it has been subject to relatively minor exploration, including limited shallow drilling by companies such as Jubilee Gold Mines, North Ltd and Melita Mining.

Such historical drilling returned top intersections including:

4m @ 10.4g/t gold from 32m;
4m @ 5.01g/t gold from 17m; and
8m @ 3.2g/t gold from 29m.

Given the historical production and drill results, Mt Malcolm Mines (ASX:M2M) has already pencilled in an exploration target of up to 150,000t @ 15g/t gold for Golden Crown.

The fact the prospect sits within the mineral-rich Leonora region – widely regarded as a Tier-1 gold province with numerous multimillion ounce mines – is just another reason for the company to be excited about its potential.

It is certainly enough to propel Golden Crown to the top of its prospects earmarked for model review and drill planning, as part of the company’s strategy to build a high-grade resource base and two-year objective of developing a sustainable production base from progressing shallow mining opportunities.

Cross section looking obliquely east with existing drill traces and identified mineralised envelopes. Pic: Supplied (M2M)

Drilling to establish maiden resource

Following data compilation, inaugural drill campaigns, geochemical analysis and surface mapping, M2M has identified a shallow drill target envelope at Golden Crown.

Geological modelling indicates new, shallow, north-plunging hanging wall ore shoots, which represent a 100m wide target corridor following the dip of the volcanic stratigraphy and the proposed exploration target.

The closed-spaced (8x12m) program of 65 holes totalling 2,475m will test these gold lodes and extensions with the goal of defining a maiden resource.

 

This article was developed in collaboration with Mt Malcolm Mines, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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