M3 Mining Limited (ASX: M3M) has provided an update on the company’s ongoing exploration activities.
Edjudina Gold Project
Chair Russell Davis accompanied newly appointed consultant geologist Ziggy Lubieniecki, competent person Jeremy Clark and M3 Mining geologist Austin Gow on a site visit of the Edjudina Gold Project tenements to assess historic workings and map previous geological interpretations.
The site visit to the company’s prospective tenements indicate that favourable trends from historic gold prospects to the south continue north on to the company’s ground. Of particular interest is the interpreted strike extension of the structure hosting the Yilgangi Queen mine which produced 35,000oz Au at an average grade of 25.9g/t whilst in operation between 1935 and 1982.
The mine is still in operation today focusing on the higher-grade shoots which continue at depth. M3 Mining believes that magnetic trends along with mapped geological packages indicate that mineralisation from these prospects could continue into tenements E31/1140, P31/2113, E31/1141 and E31/1168.
The company is expecting results from its recently completed soil sampling programme early June that will assist in defining priority targets for the projects maiden drilling program which is expected to commence in Q3 CY2022.
The company is pleased to confirm that our Edjudina Gold Project tenements contain favourable geological continuation from highly prospective gold prospects to the south,” Executive Director, Simon Eley, said.
“We are eagerly awaiting results from our recent soil sampling program which are expected in the coming weeks. This data will assist in drill target generation for the company’s maiden drill program at Edjudina, to commence in Q3 CY2022.
“At our Victoria Bore Copper Project, we will soon be commencing SQUID EM survey. Combining the results from the SQUID EM survey with the DHEM data will allow M3 Mining to plan a drill program to further test both the prospective conductors in close proximity to the historic Victoria Bore Copper Mine as well as the broader regional targets.”
Victoria Bore Copper Project
Gap Geophysics will be completing a SQUID (Superconducting Quantum Interference Device) Electromagnetic (SQUID EM) survey over the general Victoria Bore mine area to provide M3 Mining with the best possible resolution of the conductive bodies beneath the historic mine.
SQUID EM is preferred for its superior detection and resolution capability and has been used by many other companies in the search for sulphide hosted copper deposits. This survey is currently scheduled to begin within the coming month, with the results and report to be issued shortly afterwards.
In addition to the SQUID EM, Magspec Airborne Surveys has been commissioned to provide an airborne magnetic and radiometric survey over the entirety of the Victoria Bore Copper Project. The survey will provide detailed information surrounding the main prospect area as well as provide the company with broader coverage across the remainder of the tenement package.
The combination of both surveys will position the company with a considerable data set to generate high priority targets in a relatively unexplored area before embarking on the next phase of drilling. It will also provide the Company with a better understanding of the geology and structure within the broader tenement package.