Medallion Metals Reports Gem Deposit Gold Hits

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

The Gem deposit hosts Medallion Metals’ current JORC 2012 Minerals Resources Estimate (MRE) of 674,000.

Highlights include:

11m at 10.2 grams per tonne gold, 0.03 per cent copper, 0.5g/t silver from 36m, including 3m at 35.9g/t gold, 0.15 per cent copper, 3.6g/t silver from 36m;

24m at 3.8g/t gold, 0.01 per cent copper, 0.3g/t silver from 127m, including 5m at 10.7g/t gold, 0.03 per cent copper, 0.4g/t silver from 139m;

19m at 1.6g/t gold, 0.1 per cent copper, 1g/t silver from 157m; and

8m at 4g/t gold, 0.09 per cent copper, 0.9g/t silver from 134m;
11m at 1.2g/t gold, 0.04 per cent copper, 0.5g/t silver from 168m.

The Gem prospect is located at the northern end of KMC where drilling resumed in early January 2022.

Medallion intends to target the KMC deposits in the coming months, in conjunction with a regional drilling program that will includes follow up drilling at the Meridian and Ariel targets.

The company anticipates the announcement of a global MRE update in the March quarter of 2022.

“This is a great start to 2022, which will be a defining year for Medallion,” Medallion Metals managing director Paul Bennett said in the company’s ASX announcement.

“These results continue to demonstrate the continuity of broad zones of mineralisation at the western end of Gem at shallow depths.

“The combination of grade and width demonstrate the potential for this area to deliver material additions to the existing 674,000 ounce gold resource at Kundip.

“From what we are observing in the drilling and geophysics, the trend appears open and therefore Gem is a high priority target as we start the year.”