M2M Celebrates Production of First Gold Doré Bar from Golden Crown Program

2 min read | October 23, 2024 03:42 PM AEDT | By Team Kalkine Media

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M2M Celebrates Production of First Gold Doré Bar from Golden Crown Program — Image source: Shutterstock

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Highlights

First Gold Production: Mt Malcolm Mines has successfully poured its inaugural gold doré bars from the Golden Crown Prospect in Western Australia.

High-Grade Material: The initial processing involved 167 tonnes of high-grade material, with assays revealing significant gold concentrations, including a peak of 458.39 g/t.

Strategic Bulk Sampling: Ongoing bulk sampling and stockpiling initiatives aim to optimize metallurgical recovery and assess economic potential at the prospect.

Mt Malcolm Mines NL (ASX:M2M) has achieved a significant milestone by pouring its first gold doré bars from a bulk sampling program at the Golden Crown Prospect located in Western Australia. This inaugural production yielded two gold doré bars with a combined weight of 13.85 ounces (431 grams). The process took place at a nearby gravity processing facility operated by Blockchain Resources Pty Ltd, utilizing Gravity Recoverable Gold (GRG) methods.

The gold bars were produced from an initial parcel of 167 tonnes of high-grade material identified during a recent exploration campaign. Notably, of the 30 rock chip samples analyzed, the highest assay recorded an impressive 458.39 g/t gold, while 11 samples returned values exceeding 5 g/t. Such results highlight the high-grade potential of the deposit.

Visible gold has been observed in rock chip samples, particularly within zones of iron oxide (gossanous mineralization) and quartz veins, bolstering confidence in the high-grade nature of the mineralization. Excavation efforts at the bulk sampling area have revealed a 50-meter-long and 15-meter-wide mineralized corridor, reaching depths of around nine meters. Plans are in place to further excavate deeper mineralized material, which is anticipated to yield even higher gold grades, as indicated by grade control drilling data.

The ongoing bulk sampling program is integral to Mt Malcolm Mines' strategy to assess and optimize metallurgical recovery and establish key mining parameters at the Golden Crown Prospect. Additional material is being categorized into low-grade (0.5 to 2 g/t gold) and medium-grade (2 to 5 g/t gold) stockpiles, with the company exploring options to monetize these stockpiles. Additionally, head grade and tailings from the processed material have been submitted for fire assay analysis, with results expected in approximately one month. These results will provide insights into gold recovery percentages and the economic potential of remaining tailings.

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