Mt Malcolm Mines NL announced that the first five of a fifteen-hole RC drill program is now complete and assay results received. The 512m advance represents the first phase of a 1,500m RC drill program. The drill program is designed to evaluate mineralised lode extensions and to validate historical drill intersections over the 500m strike of the Dumbarton line of lode.

Initial holes were drilled east of the lode testing potential further strike extensions and to follow up anomalous RAB drilling conducted by North Ltd. (1995) which returned a peak result and the best intersection in the RAB program of: (A49966). 12m @ 1.05g/t Au (48-60m) in MSR305. West of the drilled area and at the eastern extent of the Dumbarton lode, within the remaining proposed 10 hole drill pattern, the same North RAB program returned: (M2M:ASX Drilling commences at Dumbarton 12/4/22).

4m @ 7.0 g/t Au (44-48m) and 12m @ 0.47 g/t Au (56-68m) in MSR282. The exploration target model and target area are analogous with the geology, structure and mineralisation styles at two nearby historical producers, Richmond Gem (8,987.5 oz @ 30.4g/t Au) and North Star (20,087 oz @ 21.7 g/t Au) located 1km and 2km further north and north-northwest respectively (Kelly 1954). The old underground mine lodes strike easterly to south easterly and dip steeply to the south or southwest.

Mineralisation is basalt hosted within narrow quartz veining or stockworks surrounded by carbonated and minor sulphide wall rock alteration. (A79187). The system and structure are similar to Dumbarton.