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Mt Malcolm Mines NL (ASX:M2M)

ALERT: Price-sensitive ASX Announcement for M2M
Current share price for M2M : $0.008 0.001 (14.29%)+
Announcement
Release
25 May 2026 10:24AM
Price at Release
$0.007
Full Release
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Summary
Mt Malcolm Mines NL is advancing plans for an exploration drilling program at its Calypso Gold Prospect, located southeast of Leonora, WA. The program aims to validate and upgrade the existing Exploration Target, primarily at targets T1 and T2, with an estimated 2.9-3.9 million tonnes at 1.6-2.2 grams per tonne of gold. The company is progressing a capital raise to fund the program, which seeks to support a Maiden JORC 2012 Mineral Resource estimate. The drilling will include RC pre-collar and diamond drilling to test mineralisation at depths of 150-180 meters. The exploration at Calypso is considered highly prospective due to significant gold intercepts, a predictable structural framework, and multiple untested targets. The Constance Lodes at T3 have already shown promising results with standout high-grade intercepts from the 2022-2023 diamond drilling program. The company is also exploring processing infrastructure plans for a CIL Gold processing plant acquired in 2025. The exploration activities remain contingent upon securing the necessary funding.
Key Points
  • Exploration drilling planned at Calypso Gold Prospect.
  • Validation and upgrading of existing Exploration Target at T1 and T2.
  • Target estimate: 2.9-3.9 Mt at 1.6-2.2 g/t Au.
  • Capital raise in progress to fund the drilling program.
  • Plans include RC pre-collar and diamond drilling.
  • Targeting depths of 150-180 meters for mineralisation.
  • Constance Lodes (T3) show high-grade gold intercepts.
  • Potential for a CIL Gold processing plant.
  • Exploration contingent upon securing funding.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.