Heritage Agreements Progress as M3 Targets High-Grade Gold at Edjudina

Exploration Breakthrough at Edjudina

M3 Mining Limited (ASX, M3M) has delivered an encouraging update on its Edjudina Gold Project, situated roughly 150 kilometres northeast of Kalgoorlie in Western Australia. A recent project-wide geological and geophysical review has pinpointed new zones of interest at the Yilgangie and Capitan prospects, both of which exhibit geological characteristics akin to the nearby Porphyry Gold Mine operated by Northern Star Resources.

The review incorporated a detailed analysis of historical drilling data, soil sampling, and newly processed airborne magnetic imagery. At Yilgangie, an extensive 1-kilometre strike soil anomaly was identified, with historic drill intersections including notable gold grades such as 2 metres at 3.9 grams per tonne. These findings suggest a strong potential for gold mineralisation hosted within alkalic intrusive rocks, a hallmark of the Porphyry Gold Mine’s geology.

Geophysical Insights and Target Prioritisation

Independent consultants from Resource Potentials undertook a comprehensive geophysical reinterpretation, revealing two major gold corridors across the project, the Carosue Dam corridor, which includes the El Capitan prospect, and the Porphyry corridor encompassing Yilgangie and Porphyry West. Both corridors are considered high priority for follow-up drilling due to their structural complexity and historical mineralisation evidence.

At El Capitan, previous drilling returned an exceptional intercept of 10 metres at 241.2 grams per tonne gold, underscoring the prospect’s significant strike potential. The geophysical data also highlighted several untested zones along strike, prompting recommendations for further drilling to unlock these targets.

Advancing Heritage Agreements and Drilling Plans

M3 Mining is actively progressing heritage agreements with local stakeholders, a critical step before conducting heritage surveys and commencing drilling activities. The company aims to undertake heritage surveys at Yilgangie, El Capitan, and other key prospects shortly, with air core drilling planned to follow once approvals are secured.

Non-Executive Director Eddie King emphasised the strategic importance of the review, stating that the identification of new drill targets and the advancement of heritage agreements mark significant milestones in the company’s systematic exploration approach. This disciplined methodology is designed to unlock value within the structurally controlled gold mineralisation zones at Edjudina.

Looking Ahead

With tenements either granted or nearing grant, and a clear exploration roadmap in place, M3 Mining is well-positioned to advance its understanding of the Edjudina Project’s gold potential. The combination of historical data, modern geophysical techniques, and targeted drilling could pave the way for new discoveries in a region already known for its rich gold endowment.