M3 Mining jumps on West Australia high-grade gold intersection
M3 Mining (ASX: M3M) announced today 20m at 5.7 g/t Au from 24m, including 12m at 9 g/t Au from 24m EDJAC164, intercepted in scout drilling testing at its El Capitan prospect.
The target is located in the Eastern Goldfields, approximately 150km northeast of Kalgoorlie, WA. The company has traded up 28% over the past five days to 14 cents a share.
Executive Director Simon Eley commented.
“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.