Mt Malcolm Mines (ASX:M2M) puts golden glow on grassroots ambition

If patience is a virtue in junior gold exploration, then Mt Malcolm Mines (ASX:M2M) is quietly stacking its chips in Western Australia’s fabled Eastern Goldfields.

The company’s latest drilling campaign at its Golden Crown and Dumbarton prospects may not grab instant headlines, but the groundwork suggests the beginnings of a resource story with genuine legs and management knows it.

Situated just 12km from Leonora and within cooee of the Gwalia gold mine, Mt Malcolm’s 100% owned Malcolm Project ticks the boxes on geology, infrastructure, and proximity to processing options.

But it’s the recent drilling momentum and the strategic vision of Managing Director Trevor Dixon that hints at something more durable.

“The current drilling program at Golden Crown has provided encouraging geological observations that align well with our expectations,” Dixon said. “With Dumbarton drilling next, we’re advancing toward establishing a solid resource base. This campaign represents a pivotal step in our strategy to become a low-cost, high-margin gold producer in the Leonora region.”

Highlights:

• Eight RC holes drilled at Golden Crown confirm quartz veining and alteration aligned with modelled gold zones

• Dumbarton drill pads prepared for 18-hole infill program targeting maiden resource

• Bulk sampling at Golden Crown produced 345.7 oz of gold, generating ~$1.38M in revenue

• Resource estimates and scoping studies underway to assess open-pit development and toll treatment routes

What sets Mt Malcolm Mines apart is how it’s turning legacy workings such as the Dumbarton shafts, first sunk in the early 1900s—into new-age targets, guided by modern geology.

Historic grades from the Malcolm district averaged an eye-watering 23.5g/t Au, and while Mt Malcolm is not chasing bonanza veins, it is building a case for economic continuity.

At Golden Crown, drilling is targeting down-plunge extensions of high grade lodes and testing continuity beneath a bulk sampling pit that’s already yielded near-term production credentials.

Notably, assay returns from the 979-tonne bulk sample recorded up to 22.4 g/t Au.

Meanwhile, Dumbarton offers untapped potential, with intercepts like 20m at 1.34g/t Au (hole 22DBRC005) still open in several directions.

With the upcoming infill program, the aim is clear: define geometry, lock in grade continuity, and support a maiden JORC Mineral Resource.

There’s still a long road between RC drilling and gold pours, but the plan is measured and well sequenced.

Results from SGS Kalgoorlie are expected in 4–5 weeks, and if they confirm current models, Mt Malcolm will have a foundation to progress to scoping studies with options that avoid heavy capex outlays.

For now, the company remains small and focused but with bulk sample cash in the bank and rigs spinning, Mt Malcolm is eyeing more than just speculative sparkle.

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