Golden Crown Bulk Sampling Yields 122 Ounces of Gold Doré Worth $449K

Bulk Sampling Success at Golden Crown

Mt Malcolm Mines NL (ASX: M2M) has reported significant progress in its bulk sampling program at the Golden Crown Prospect, part of its broader Malcolm Project in Western Australia’s prolific Leonora gold region. The program has produced a total of 122.4 ounces (3,809 grams) of gold doré from 612 wet metric tonnes of mineralised material, confirming the ultra-high-grade nature of the deposit.

The most recent phase in December 2024 alone yielded 73.9 ounces (2,299 grams) of gold doré, generating revenue of $278,648 from sales to The Perth Mint Refinery. This follows an earlier phase that produced 48.5 ounces, bringing total revenue from gold sales to $449,194 to date.

High-Grade Mineralisation Confirmed

Gravity recovery results from batches B6 and B7 stand out, with recovered gold grades of 7.1 g/t and 11.4 g/t respectively. These figures underscore the presence of substantial high-grade mineralisation within a mineralised corridor approximately 50 meters long and 15 meters wide. The gravity processing technique has proven highly effective, particularly given the coarse nature of the gold, which is reflected in the purity of the doré bars ranging from 85% to over 93% gold content.

Managing Director Trevor Dixon highlighted that the program not only validates the economic potential of Golden Crown but also aligns with the company’s strategy to generate revenue and lay the groundwork for future full-scale mining operations across the Malcolm Project.

Operational and Strategic Implications

The bulk sampling initiative simulates real mining conditions, providing critical data on grade reconciliation, processing efficiency, and geotechnical parameters essential for pit design and mining method selection. The close alignment between bulk sample results and prior drilling data enhances confidence in resource modelling accuracy, a vital step toward resource estimation and project development.

Additionally, the company is assessing stockpiled materials of varying grades, from low to high, to determine optimal processing and monetisation strategies. This approach aims to maximise economic returns and reduce operational risks as the project advances.

Context Within the Malcolm Project

The Golden Crown Prospect is strategically located within the Malcolm Project, covering approximately 200 square kilometers near Leonora, a region renowned for its rich gold endowment and mining history. Proximity to established infrastructure and processing facilities further supports the prospect’s development potential.

Historical exploration by multiple companies has laid a solid foundation, while Mt Malcolm Mines’ recent drilling and bulk sampling efforts continue to build on this legacy with modern techniques and rigorous data validation.

Looking Ahead

The final batch of the bulk sampling program is currently being processed, with further gold sales anticipated in the coming weeks. Mt Malcolm Mines plans to complete comprehensive metallurgical studies, refine resource estimates, and explore low-cost mining techniques to optimise future operations. These steps are critical to advancing Golden Crown from exploration to production.