Mt Malcolm Mines (ASX:M2M) reports that it has identified extensive gold-in-soil target trends following a comprehensive review of historical exploration at the Emu Egg prospect area, as part of its greater Mt Malcolm Gold project in Western Australia.
Review of the historic exploration, comprising 3,297 soil samples and 391 historical drillholes, has highlighted several large coherent +20 ppb Au anomalies, as well as several areas that have not yet been drill tested or only subject to shallow rotary air blast (RAB) drilling.
Future drilling is expected to focus within these extension zones, however deeper reverse circulation (RC) and aircore (AC) drilling is required to close down the possibility of down plunge repetition of the boudin like lodes, and to delineate any mineralised strike extensions.
Historic results have also defined the gold and base metal potential of the Emu Egg prospect area, with results peaking at 8m at 3.61g/t Au from 46m-54m (drillhole BRRB101) and 12m at 2.23g/t Au from 26.-38m (drillhole bm_RC34).
Addressing the prospect review, Mt Malcolm Managing Director, Trevor Dixon said: “Our Emu Egg prospect area presents as a first class exploration opportunity. Extensive gold-in-soil geochemical anomalies are evident, with the Emu Egg Main Zone anomaly extending over some 2.5 strike kilometres containing a distinct 100pb Au core covering approximately 450 strike metres.
“Our emu egg prospect area presents as a first class exploration opportunity”
The central zone is complemented by numerous ore grade historical drill intersections. The Mt Malcolm team have developed a new geological model to drive the next phase of exploration where structural interpretation indicates potential shear zone duplexing within the prospect area.”
The company also notes that construction and validation of the geological database is well advanced, however historical databases, including grid transformations and sampling/logging methodologies, require validation prior to targeting and drill testing.
Despite this, the vast majority of the not-yet-completed but compiled database is usable for the future drill testing.
In addition, while initial drilling results returned encouraging intercepts, quality control appears to have been poor and strike extensions to Emu Egg and the Emu Egg Main Zone have not been adequately drill tested, with numerous intersections remaining open along strike and at depth.
Identified gold mineralisation and structural extensions are also noted to be prospective along both the northwest and southeast strike direction and down dip, resulting in the Emu Egg prospect representing a priority two target, and the Emu Egg Main Zone representing a priority one target.
The company’s flagship Mt Malcolm Gold project is located about 10-25km east of the township of Leonora in Western Australia’s Central Eastern Goldfields and comprises a comprehensive prospective tenement package that covers a total land holding of 274km-square. The project currently boasts 151 tenements, comprising 121 prospecting licences, 21 prospecting licence applications, two mining leases, three mining lease applications and three exploration licences, with the company owning 100% interest.
With the comprehensive review of the Emu Egg prospect area now complete, Mt Malcolm announces that it remains focused on driving the next phase of exploration at the Emu Egg prospect.
Images: Mt Malcom Mines Ltd