Mt Malcolm Mines NL has appointed iDrilling Australia Pty Ltd to carry out an 8,500-metre drilling program at the Calypso Gold Project near Leonora in Western Australia.

The campaign will comprise approximately 30 drill holes combining reverse circulation and diamond tails. Work is scheduled to start in mid-September 2026, subject to approvals. Initial assay results are expected within two months.

The program will test the T1, T2 and T3 Constance Lode systems, targeting high-priority gold shoots and down-plunge extensions. Calypso hosts an historical exploration target of 2.9 million to 3.9 million tonnes grading 1.6 to 2.2 grams per tonne gold for 153,000 to 279,000 ounces, alongside blind discoveries made during 2022 and 2023.

Under the agreement, iDrilling accepted a 50% cash and 50% scrip structure for eligible invoiced costs. The scrip will be issued at $0.01 per share, a 43% premium to the 15-day volume-weighted average price.

Managing Director Trevor Dixon said, “Calypso has consistently been the prospect with superior potential upside. The upcoming planned drilling program is designed to move the defined mineralisation to the next stage of resource growth.”

The contract follows recent portfolio advancement. In April 2026, Mt Malcolm reported maiden mineral resource estimates totaling 13,200 ounces at Golden Crown and Dumbarton. Proceeds from a June 2026 rights issue were allocated toward broader exploration and a feasibility study for a 500,000-tonne-per-annum processing facility in Leonora.

Read the full announcement: Drilling to Commence at Calypso