Medallion Metals Drills Gem Ahead of Global Resource Upgrade

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THE DRILL SERGEANT: Medallion Metals (ASX: MM8) reported drilling results from the Gem deposit within the Kundip Mining Centre (KMC), part of the company’s Ravensthorpe gold project in Western Australia.

The KMC hosts the company’s current JORC 2012 Mineral Resources Estimate (MRE) of 674,000 ounces at 2.4 grams per tonne gold.

Medallion Metals said the new drilling had extended and improved its confidence in mineralised zones at Gem to the southeast and southwest, with highlights including:

RC21KP1048
9m at 5.75 grams per tonne gold, 0.16 per cent copper, 2.16g/t silver from 95m, including 1m at 29.1g/t gold, 0.44 per cent copper, 7.8g/t silver from 99m;

DD21KP1029
6.92m at 4.78g/t gold, 0.16 per cent copper, 1.4g/t silver from 93.63m;

DD21KP1028
3.01m at 7.35g/t gold, 0.52 per cent copper, 4.19g/t silver from 80.32m; and

RC21KP952
11m at 1.49g/t gold, 0.32 per cent copper, 1.86g/t silver from 109m.

“These are further strong results from the two key areas at Gem that we view as having the greatest upside potential in terms of extending mineralisation,” Medallion Metals managing director Paul Bennett said in the company’s ASX announcement.

“The results bolster the imminent resource upgrade and importantly provide confidence to follow up with an aggressive extensional program before the middle of the year.

“Gem represents half of the current resource in terms of ounces.

“Seeing the mineralisation open in multiple directions gives the team confidence Gem can continue to underwrite our growth toward achieving critical mass of 1.5 million ounces and beyond.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@medallionmetals.com.au

 

Web: www.medallionmetals.com.au