High-Grade Golden Crown Gold Stockpiles Reveal Revenue Potential

Mt Malcolm Mines (ASX: M2M) has announced encouraging gold grades from stockpiles at its Golden Crown prospect, highlighting a near-term revenue opportunity with 2,400 tonnes of stockpiled material averaging 3 g/t gold.

Impressive High-Grade Results Confirm Economic Potential

The company recently completed a comprehensive evaluation of existing stockpiles from its Golden Crown bulk sampling program, revealing substantial economic value. The assessment identified five distinct stockpiles with gold grades reaching as high as 42.74 g/t Au in grab samples.

Key highlights from the stockpile evaluation:

• • Approximately 2,400 wet metric tonnes (WMT) of stockpiled mineralised material

• • Average grade of 3 g/t Au across all stockpiles

• • 48 grab samples systematically collected, with grades up to 42.74 g/t Au

• • An additional 980 WMT of tailings material currently undergoing grade determination

The stockpiled material represents unprocessed mineralisation (below 10 g/t Au) from the recently completed bulk sampling program, which was designed to evaluate metallurgical characteristics, mining parameters, grade distribution, and mineability of Golden Crown’s gold mineralisation.

“The stockpile sampling results have reinforced confidence in the high-grade mineralisation at Golden Crown,” said Managing Director Trevor Dixon. “The estimated average grade of 3 g/t Au for the current stockpiles aligns with expectations and supports the objectives of the bulk sampling program.”

Understanding Bulk Sampling: A Critical Development Step

Bulk sampling represents a crucial intermediate step between exploration and full-scale mining. Unlike conventional drill samples that may only test small volumes of rock, bulk samples provide large volumes of material that deliver more reliable grade information and metallurgical performance data.

For Golden Crown, the bulk sampling program has already delivered 337 ounces (10,503 g) of gold doré from 979 WMT processed to date, demonstrating exceptional recovery rates of up to 22.4 g/t Au per processed tonne.

Beyond the immediate revenue generation, this approach has provided Mt Malcolm with valuable insights including:

• • Critical geotechnical data for optimizing pit slope stability

• • Confirmation of wet gravity separation effectiveness

• • Enhanced geological understanding for improved resource modeling

• • Validation of grade continuity and processing strategies

Golden Crown’s Emerging Resource Profile

The Golden Crown Prospect is part of Mt Malcolm’s flagship Malcolm Project, which covers more than 200 km² located between 10-25 km east and northeast of Leonora in Western Australia’s rich gold fields.

Recent exploration has identified a significant 150m x 120m mineralisation corridor containing two key shear-hosted lodes:

• • East Lode – selected for initial bulk sampling due to high-grade, shallow mineralisation

• • West Lode – separated from the East Lode by a 20m zone of unmineralised rock

Importantly, the mineralisation remains open in multiple directions:

• • Northwest extension indicated by intercepts from drillholes 24GCRC039 and 24GCRC040

• • Southeast extension requiring additional drilling to confirm extent

• • Down-plunge extension supported by intercepts from 21GCRC001 and 24GCRC064

Strategic Path Forward: Cash Flow Generation

Mt Malcolm’s strategy appears focused on leveraging the existing stockpiles to generate immediate revenue while advancing the broader project. The company’s next steps include:

1. 1. Stockpile Monetisation – Evaluating cost-effective processing options to maximize returns from the 2,400 tonnes of stockpiled material grading 3 g/t Au

1. 1. Planned drilling – Upcoming drilling programs targeting extension of high-grade zones and defining additional mineable material

1. 1. Resource Modeling & Estimation – Incorporating bulk sampling and drilling results into updated resource models

4. 4. Advancing towards low-capital, staged mining operations – Developing efficient mining plans to maximise returns

Investment Perspective: Why Investors Should Watch Mt Malcolm

For investors, Mt Malcolm represents an interesting opportunity in the junior gold sector for several reasons:

1. 1. Near-term cash flow potential – The 2,400 tonnes of stockpiled material averaging 3 g/t Au represents an immediate monetization opportunity, potentially providing working capital for future development without dilution

1. 1. De-Risked Development Approach – The bulk sampling program has already produced 337 ounces of gold doré, demonstrating both the presence of economic gold and effective recovery methods

1. 1. Exploration Upside – With mineralisation remaining open in multiple directions, there’s significant potential to expand the known resource through additional drilling

4. 4. Strategic Location – The project is situated in Western Australia’s prolific Leonora gold district, near established mining infrastructure and services

As the company progresses with stockpile processing and further exploration, incoming results should provide investment perspective with greater clarity on Golden Crown’s economic potential and Mt Malcolm’s growth trajectory.

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