Mt Malcolm Mines is set to be the latest in a conga line of gold explorers to ring the bell at the ASX recently after raising millions at a canter to explore for gold. The company will hit the boards at the ASX today after doing 15 separate deals in a herculean effort to consolidate 274 square kilometres of under-explored gold ground east of Leonora under one roof for the first time.
Curiously, despite their proximity to historic mining centres, the tenements are somewhat under-explored which is possibly a function of their past disparate ownership. Mt Malcolm is planning to get the rods turning almost straight away on an initial four walk up drill targets around the old mining town of Malcolm. The company’s flagship Mt Malcolm project lies along the western margin of the lucrative Keith-Kilkenny shear which is home to multiple sizeable gold deposits in the region.
Importantly, many of the major targets identified in the Mt Malcolm ground holdings occur under cover in areas of deeply buried Archean bedrock. Management says most of these targets have seen surprisingly little or no exploration to date, although they are often close to areas of previous scrutiny.
Mt Malcolm Managing Director Trevor Dixon wears Leonora’s colours on his sleeve and has arguably licked and kicked more rocks around Leonora in search of the elusive yellow metal than anyone else.