Medallion Metals Eyes Potential of Harbour View

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

The KMC currently hosts Medallion’s JORC 2012 Mineral Resource Estimate (MRE) of 674,000 ounces of gold.

The Harbour View prospect is in the central area of KMC, around which drilling is ongoing to support a global MRE update which is expected to be completed in the March quarter of 2022.

The assay results from drilling at the Harbour View deposit returned high-grade gold and copper intercepts, including:

2.38 metres at 4.26 grams per tonne gold, 7.19 per cent copper, 37.35g/t silver from 231.22m;

3m at 9.19g/t gold, 0.15 per cent copper, 3.42g/t silver from 69m;

1.97m at 5.13g/t gold, 2.62 per cent copper, 47.58g/t silver from 276.63m;

2m at 4.52g/t gold, 1.32 per cent copper, 14.95g/t silver from 29m;

0.35m at 16.1g/t gold, 1.40 per cent copper, 5.4g/t silver from 334.28m; and

3m at 1.91g/t gold, 0.26 per cent copper, 2.08g/t silver from 80m.

The company indicated that hole DD21KP997 extended a copper rich high-grade sulphide zone 80m beyond previous copper hits, and beyond the margins of the current Mineral Resource.

“The first results from the Harbour View deposit are extremely positive,” Medallion Metals managing director Paul Bennett said in the company’s ASX announcement.

“Intercepts at the southern end of the deposit represent substantial depth and plunge extensions beyond previous drilling.

“Additionally, the copper grade in DD21KP997 highlights the potential for copper to enhance project economics.

“At the northern end we’ve recorded significant shallow high-grade strike extensions on the Harbour View splays.

“These major step outs from the existing drilling further increase our confidence the project resources will undergo a significant upgrade in early 2022.”