M3 Mining (ASX: M3M) is preparing for an aircore (AC) drilling programme designed to test a significant gold-in-soil anomaly discovered at the Edjudina Gold Project in WA.
The company is preparing for field operations at both of its wholly owned WA projects; The Edjudina Gold Project, located approximately 150km northeast of Kalgoorlie and The Victoria Bore Project located 120km south of Onslow.
"At the Edjudina Gold Project, M3 Mining will be undertaking an aircore drilling programme to target high-priority gold anomalism discovered in a recent soil sampling campaign," Executive Director, Simon Eley, said.
"At the Victoria Bore Copper Project, the company will be completing a follow- up soil sampling campaign focussing on expanding the footprint of recently uncovered copper anomalisms in areas of limited, if any, prior exploration.
"The recent interest in copper supply issues as well as the increasing gold price, underlines the efforts of the xompany to realise the potential at both of M3 Mining’s projects. The team will be undertaking these programmes in the near future, subject to weather conditions."
Three high-priority targets at Edjudina have been identified for approximately 3,500m of AC drilling. The targets have been identified from a major soil sampling campaign across the 7km trend, with the trend demonstrated to possess high- grade gold, including 10m at 241.2 g/t Au from 27m.
Target 1 has seen sporadic historic drilling, whilst the two remaining targets have not been previously drilled. Considerable recent rainfall in the region has delayed the expected starting date, however, plans are in place to commence drilling as soon as ground conditions allow (anticipating mid-April).
Victoria Bore Soil Sampling Programme
A recently completed pXRF soil sampling programme outlined significant copper soil anomalism across multiple prospects. Two high-priority targets will be further assessed by in-fill sampling to possibly extend the footprint of known anomalism. The follow-up targets contained multiple anomalous copper readings with some as high as 5.9x background. Additionally, at least three further untested targets coincident with magnetic anomalies will also be tested. The programme is expected to be completed in Q2, CY2024.
Energy asset
M3 Mining has also reported that progress has been made towards securing an advanced overseas energy project. The company is progressing discussions in relation to securing the asset and, subject to receiving approvals.
