Mt Malcolm Mines NL (ASX: M2M), a company focused on gold exploration in Western Australia, has released its activities report for the quarter ending 30 September 2025. Mt Malcolm, which is dedicated to discovering and developing high-value gold resources, reported significant progress at its flagship Malcolm Gold Project in the Eastern Goldfields. The report highlights a productive quarter characterised by strong drilling results and exploration advancement across key prospects.
During the quarter, Mt Malcolm Mines completed 2,010 metres of RC drilling across the Sunday Picnic prospects, including Sunday Underground Workings and Picnic South. Drilling confirmed shallow gold mineralisation beneath historic Sunday workings and continuous gold mineralisation extending over 700 metres at the Picnic South Prospect. Key intercepts from Sunday Workings include 8 metres at 1.20 g/t Au from the surface, including 1 metre at 4.05 g/t Au, and from Picnic South 8 metres at 0.74 g/t Au from 48 metres, including 1 metre at 2.49 g/t Au.
The company has also commenced a JORC (2012) Mineral Resource evaluation for Golden Crown, Dumbarton, and Sunday Picnic in collaboration with Carras Mining Pty Ltd. A Mining Lease Application has been lodged over 15 contiguous tenements consolidating the Sunday Picnic prospect. Drilling results have highlighted near-surface, extensive gold mineralisation at the Dumbarton and Sunday Picnic prospects, which will be further evaluated for potential open-pit development. Significant results from Dumbarton include 3 metres at 2.19 g/t Au from 58m including 1 metre at 4.48 g/t Au.
Looking ahead, Mt Malcolm plans to continue exploration programs in the December 2025 quarter, focusing on follow-up drilling at Golden Crown, Dumbarton, and Sunday Picnic. The company also intends to update 3D geological and structural models, continue data review for maiden JORC-compliant Mineral Resource Estimates, advance permitting and technical studies for potential trial mining operations, and maintain engagement with local stakeholders. The company spent $772k in cash on exploration and evaluation work this quarter. To ensure continued operations, the company announced a Renounceable Rights Issue on 27 October 2025 seeking to raise up to $2.3 million.
