Medallion Metals Drills Strong Infill Gold Results at Ravensthorpe

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

The Kundip Mining Centre hosts the company’s current JORC 2012 Mineral Resource Estimate of 674,000 ounces of gold.

Recent RC drilling has confirmed a broad zone of mineralisation with strong continuity to surrounding drilling at the western end of Kaolin deposit, returning results of:

20 metres at 2.57 grams per tonne gold, 0.14 per cent copper, 2.25g/t silver from 38m, including 9m at 2.6g/t gold, 0.03 per cent copper, 0.91g/t silver from 71m and 8m at 3.4g/t gold, 0.30per cent copper, 4.48g/t silver from 83m; and

34m at 1.56g/t gold, 0.2 per cent copper, 2.06g/t silver from 91m, including 21m at 1.45g/t gold, 0.1 per cent copper, 0.84g/t silver from 91m and 11m at 2.01g/t gold, 0.42per cent copper, 4.92g/t silver from 114m.

Mineralisation remains open at Kaolin down-dip to the south and down-plunge to the southwest with extensional drilling in progress.

Deeper stratigraphic drilling has identified multiple mineralised intersections the company has interpreted as down-dip from both the Kaolin and Harbour View prospects.

“These results are significant in two key respects,” Medallion Metals managing director Paul Bennett said in the company’s ASX announcement.

“Firstly, the continuity of the broad zones of mineralisation at the western extent of Kaolin provide confidence that material additions to the existing 674,000 ounce gold resource at RGP can be expected from this area.

“The widths and grades are amenable to open pit mining and we’re confident this will lead to extensions of the existing pit design at depth and along strike.

“Secondly, the deep stratigraphic holes into the projected intersection of the Kaolin and Harbour View corridors confirm the system is open to a depth of at least 350 metres below surface.

“When Medallion commenced this drill program in April 2021, the average depth of drilling at KMC was 85 metres below surface and we are now starting to see the potential of the area begin to emerge.”