M2M - Mt Malcolm Mines

[System]

Mt Malcolm Mines NL is a Western Australian gold focused exploration company with assets positioned within a focused 274km2 tenement holding, which makes up the Mt Malcolm Gold Project (Project) near Leonora, Western Australia. The Project lies along the western margin of the Keith-Kilkenny Tectonic Shear Zone in an under-explored greenstone belt. The many historical discoveries within an 80km radius have yielded in excess of 50 million known gold resource ounces.

At Malcolm, gold is structurally controlled within sheared greenstones and the regional stratigraphy has been intensely deformed. Evidence of gold mineralisation along strike of these structures is confirmed by a number of historic workings and scratchings, auriferous occurrences, nugget patches and numerous anomalous (+5g/t Au) drill intersections.

Nearby projects include Darlot, Thunderbox, King of the Hills, Mt Morgans, Sons of Gwalia Granny Smith and Sunrise Dam.

It is anticipated that M2M will list on the ASX during September 2021.

Home - Mt Malcolm NL

Gold focused exploration company with a comprehensive prospective tenement package (274km2) surrounding the Malcolm Mining Centre, 10-25km east of Leonora.

mtmalcolm.com.au

 

[Dona Ferentes]

Listing date	08 September 2021 11:30AM AEST ##
Company contact details	https://mtmalcolm.com.au/ Ph: +61 8 6244 6617
Principal Activities	Mining exploration
GICS industry group	TBA
Issue Price	$0.20
Issue Type	Ordinary Fully Paid Shares
Security code	M2M
Capital to be Raised	$8,000,000
Expected offer close date	25 August 2021
Underwriter	Not underwritten. Morgans Corporate Limited (Lead Manager)

 

[Dona Ferentes]

and trading ... Day One started healthy

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Opened at 25c but has dropped to 21c after the initial flurry...

 

[Dona Ferentes]

it's been a while since we've heard from this one.

M2M reports “unprecedented” gold results from its recent Grade Control RC drilling campaign at the Golden Crown Prospect. The company reported highlights such as 14m @ 16.78g/t Au from 4m, including 1m @ 111g/t Au, and 6m @ 36.75g/t Au.

Today's lift as high as $0.05 came on back of earlier results late June.

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[finicky]

Shallow, high grade but its "grade control" drilling. In the midst of multiple historical mega deposits, ~15kms from Leonora on a sealed road. Trouble is, last time I reacted to points like this, I bought Dacian in the same area and collected a big loss. Worth checking out though.

Not Held

 

[Dona Ferentes]

Shallow, high grade but its "grade control" drilling. In the midst of multiple historical mega deposits, ~15kms from Leonora on a sealed road.

so ... What is grade control?

Grade control is the process of drilling holes, usually in close proximity to check the quality & grade of the ore while mining is underway. This is commonly carried out after the ore body has been identified and is used to help define the mine model.

 

[finicky]

Yeah I neglected to be explicit that grade control is not new discovery. But still it appears this drilling surprised positively. Maybe it's for the bulk sampling they mention. Will have a look at some past announcements

 

[Dona Ferentes]

thanks @finicky . worked that out, your added info helps. early days

 

[finicky]

It hardly gets better than this for nearology but again, that's one of the notions that sucked me in to nearby loser, Dacian Gold (Dacian NotGold) at Mt Morgans on the map.

The holding is strategically positioned with excellent logistical access and surrounded by several world class gold producers and operating treatment facilities.