Gold mineralisation is associated with intrusive bodies that range from granite to diorite in composition. The gold occurs as free gold in sheeted and stockwork vein systems, as disseminations associated with sulphides in altered intrusive and adjacent wall rocks, as well as in shear zones and in breccia pipes.
One key prospect is Phoenix, which consists of a very large (>1 billion tonnes) sulphide system with widespread low grade gold and local features, such as a breccia pipe, where gold grades are enhanced.
Malachite's interest in Tooloom was sparked by the widespread occurrence of the alluvial gold, the presence of gold/quartz vein composites as nuggets recovered in the then current alluvial mining operations in the district and the presence of large bodies of altered and mineralised intrusive rocks, some with minor old hard rock gold workings. Malachite has conducted a systematic exploration program at Tooloom that has taken the project from the conceptual, grass roots stage to its present state, with numerous hard rock prospects identified, some with drilling, and a small gold resource outlined at the largest prospect, known as Phoenix.