Narrow Gold Mineralisation at El Capitan Prompts M3 Mining to Prioritize Broken Hill Bore

Edjudina Gold Project Update

M3 Mining Limited (ASX: M3M) has delivered a compelling update from its Edjudina Gold Project, located roughly 150km northeast of Kalgoorlie in Western Australia. The company’s latest exploration program has yielded high-grade gold rock chip samples, notably a standout 65 grams per tonne (g/t) gold assay from the historic Broken Hill Bore workings. This discovery underscores the prospect’s potential for significant mineralisation and sets the stage for intensified exploration.

Broken Hill Bore, situated about 20km northeast of Northern Star’s Porphyry Gold Mine, hosts multiple historic shafts and adits dating back to the early 1900s. The recent rock chip sampling across four distinct workings, Anchor, Lyon Glen, Broken Hill, and Broken Hill North, returned encouraging gold grades, with several samples exceeding 1 g/t Au and the exceptional 65 g/t Au at Broken Hill North. These results validate the prospect’s high-grade nature and suggest that further geochemical pathfinder studies could delineate extensions beyond the known historic workings.

Old Plough Dam: Geological Parallels to Twin Peaks

Reconnaissance efforts at the Old Plough Dam prospect have revealed geological characteristics closely resembling those of the nearby Twin Peaks gold deposit, a known producer within the Carosue Dam gold trend. Although rock chip assays here returned only weakly anomalous gold values (up to 90 parts per billion), the lithological similarities and structural continuity with Twin Peaks provide a strong rationale for further investigation.

M3 Mining plans to conduct a soil geochemical survey using portable XRF technology in early 2025, followed by detailed alteration mapping. These steps aim to refine target areas and better understand the prospect’s mineralisation potential, leveraging the geological insights gained from this preliminary work.

El Capitan: Narrow Mineralisation Confirms Shift in Focus

At the El Capitan prospect, resampling of 1m aircore drill splits confirmed the presence of gold mineralisation, with assays up to 0.96 g/t Au. However, the mineralisation was found to be narrow and consistent rather than broad or high-grade. Complementary rock chip sampling at El Capitan South did not yield significant gold values but enhanced geological understanding of the area’s structural framework.

Given these findings, M3 Mining has prudently decided to deprioritize El Capitan in favor of more prospective targets within the Edjudina Project, particularly Broken Hill Bore and Old Plough Dam.

Looking Ahead: Systematic Exploration in 2025

Building on the latest results, M3 Mining is gearing up for a focused exploration campaign in early 2025. Key planned activities include soil geochemical surveys at Old Plough Dam, alteration mapping to identify Twin Peaks-style mineralisation, and geochemical pathfinder analyses at Broken Hill Bore to assess the extent of high-grade gold mineralisation.

Executive Director Simon Eley emphasised the company’s commitment to a systematic, data-driven approach: "These findings provide a clear roadmap for our next phase of exploration. We are excited by the high-grade results at Broken Hill Bore and the geological promise at Old Plough Dam, which together could unlock significant value for our shareholders."

As M3 Mining continues to integrate historic data with new field insights, the Edjudina Gold Project remains a compelling exploration story in the Eastern Goldfields region.