M3 Mining Limited (ASX: M3M) has intercepted high-grade gold in scout drilling testing the extensive gold-in-soil anomaly at The El Capitan Prospect within its Edjudina Gold Project in WA.
Consisting of 76 holes for 3,456m, the programme was designed to test the soil anomalies identified along a splay structure to the major regional Keith-Kilkenny fault which hosts numerous gold occurrences including the historic operating Yilgangie goldfield and the currently operating private Yilgangie Queen mine.
These splays host the Jump Up prospect within M3M tenure and successfully intersected significant mineralisation over a thick 20m interval at the newly named “El Capitan Prospect”.
While the aircore programme was only shallow (average depth of 45m), a number of other significant intersections were returned over the newly discovered prospect including 4m at 1.72 g/t from 4m (EDJAC165).
Executive Director, Simon Eley, said M3 Mining is extremely encouraged by these scout drilling intersections and has already recommenced exploration works for follow up
M3 Mining is thrilled to share the news of the gold assay results from our recent aircore drilling program at Edjudina,” he said.
“These results have exceeded our expectations, indicating the presence of significant gold mineralisation at The El Capitan Prospect; an area that has never been drilled.
“To ensure QA/QC standards and confirm accuracy and repeatability, we immediately arranged for the lab to undertake repeat assays. To our delight, the second and third readings for some samples showed even higher values, indicating the presence of coarse gold.
“Our geology team, is currently on-site, collecting one-metre samples for screen fire assay, which should provide a more comprehensive understanding of the gold content within the intersections. These samples will be submitted on a priority basis, and we anticipate receiving the results before the end of June.
“Simultaneously, we are developing plans for an expedited follow-up drill program to test the extension of the mineralisation we have intercepted. We look forward to the next steps of exploration as we uncover more insights into the mineralisation.”
