Recoveries exceeding 10g/t gold lift Golden Crown revenue
Thu Jan 16 2025
Special Report: The ongoing success of Mt Malcolm Mines’ bulk sampling program in producing gold has strongly emphasised the high-grade nature of its Golden Crown prospect near Leonora, WA.
During the most recent phase – the second fortnight of December 2024, the company recovered 73.9oz of gold through the processing of bulk sample batches B6 and B7, which have average grades of 7.1g/t and 11.4g/t respectively.
This generated $278,648 in revenue through sales to The Perth Mint Refinery.
Highlighting the high-grade nature of Golden Crown, Mt Malcolm Mines (ASX:M2M) has produced 122.4oz (3809g) of gold to date from processing 612 wet metric tonnes and received total revenue of $449,194.
Adding interest, simple gravity recovery has proven highly effective throughout the program at extracting gold, highlighting the coarse nature of gold mineralisation at the prospect.
Final batch samples from the bulk sampling program are now being processed with further gold sales expected in the coming weeks.
“The bulk sampling program at Golden Crown continues to deliver outstanding results,” managing director Trevor Dixon said.
“It is demonstrating the strong potential for economic gold mining potential at the prospect and continuing to reinforce the company’s strategy for revenue generation and future full scale mining projects across the extended Malcolm project.”
Malcolm project
Golden Crown is part of the Malcolm project which covers a semi-contiguous area of ~200km2 between 10km and 25km to the east and northeast of Leonora.
The prospect hosts a stacked, shingle-like arrangement of overlapping veins along with multiple phases of mineralisation, which highlights its potential to host significant mineralisation.
It has also contributed in the past to the region’s already prolific gold production with Genesis Mineral’s (ASX:GMD) Gwalia mine, one of Australia’s largest and deepest gold mines, sitting just 12km to the southwest.
This long history of mining also means that Golden Crown benefits from established infrastructure, including access roads and nearby processing facilities, which support development activities.
M2M notes the bulk sampling program is providing geotechnical data that is critical for designing pits and assessing optimal mining methods.
It also serves to de-risk the transition to potential mining operations, ensuring a robust foundation for the next phases of development.
Additionally, grade reconciliation from the processed material closely aligns with prior drilling results, increasing confidence in the resource modelling and providing a solid basis for the accuracy of future resource estimations, supporting ongoing exploration and development efforts at Golden Crown.
Stockpiled material from the program is being evaluated for processing and monetisation strategies to maximise economic returns. Various options are under active consideration to maximise its value, which could contribute to future economic outcomes for the project.
Source: https://stockhead.com.au/