Mt Malcolm Mines NL (ASX: M2M), a company focused on unlocking the potential of its flagship Malcolm Project through ongoing exploration and development strategies, has released its Quarterly Activities Report for the period ending 31 December 2025. The report highlights a transformative quarter for M2M, marked by strategic asset acquisitions, successful capital raising, and continued progress in exploration activities within the Eastern Goldfields region of Western Australia. These advancements are positioning the Company for accelerated growth and enhanced value creation for its shareholders.
A key highlight of the quarter was the acquisition of major components of a 500,000 TPA Carbon-in-Leach (CIL) gold processing plant and associated infrastructure in the Leonora district. Mt Malcolm Mines is now among a select group of ASX-listed junior explorers possessing readily deployable, mid-scale processing infrastructure within the Eastern Goldfields. The acquisition presents both a pathway towards future self-processing of the Company’s expanding gold inventory and near-term, non-dilutive revenue opportunities through toll-milling of third-party ore parcels. The company successfully finalised logistics and transported the acquired plant components to the Malcolm project area, enabling secure storage and commencement of detailed engineering assessment.
Exploration efforts at the Picnic South prospect also yielded positive results. Infill RC drilling successfully demonstrated consistent, continuous near-surface gold mineralisation along a 700-metre strike corridor. Notable intercepts included 8m @ 0.74 g/t Au from 48m, including 1m @ 2.49 g/t Au (25SPRC010); 4m @ 1.37 g/t Au from 63m, including 1m @ 3.83 g/t Au (25SPRC011); and 6m @ 0.93 g/t Au from 36m, including 1 m @ 2.37 g/t Au (25SPRC013). An oversubscribed renounceable rights issue raised $3.05 million (before costs), demonstrating strong investor support for M2M’s growth strategy.
Looking ahead to the March 2026 quarter, M2M plans to progress engineering review, refurbishment planning, permitting and funding pathways to advance the processing plant toward potential commissioning. Follow-up RC drilling at high-priority brownfields prospects (Golden Crown and Dumbarton) is planned to test extensions and expand known mineralisation, and work will continue to advance maiden JORC-compliant Mineral Resource Estimates for key prospects. The company is well-equipped to ramp up momentum and drive shareholder value in a favourable gold environment.
