‘Outstanding’ copper results at Medallion’s Harbour View have highlighted the red metal might begin to play a crucial role at the Kundip Mining Centre.

Reverse circulation (RC) and deep diamond drilling (DDH) throughout 2021 and 2022 has focused on down-dip and down-plunge extensions of mineralisation in the central and southern sections of Harbour View, part of the wider Kundip Mining Centre in Western Australia.

Medallion Metals (ASX:MM8) says these latest hits demonstrate an improvement in grade and consistency of copper grades with some intersections recorded over broad widths.

Highlights from drilling include:

  • 19m at 2.26g/t gold, 2.33% copper, 13.03g/t silver from 69m;
  • 5m at 2.49g/t gold, 5.61% copper, 48.5g/t silver from 104m, including 1m at 3.03g/t gold, 16.4% copper, 139g/t silver from 105m;
  • 2m at 18.5g/t gold, 5.91% copper, 43.95g/t silver from 253m; and
  • 12m 2.27g/t gold, 1.18% copper, 10.8g/t silver from 164m.

‘Shareholders should be excited’

“These results are having a fundamental impact on our view of the KMC,” Medallion managing director Paul Bennet says.

“Historical production from the Phillips River Mineral Field has a gross value split of approximately 50:50 between copper and gold at today’s prices so it’s no surprise that copper may begin to play an increasingly important role.

“The system is open at depth with signs the copper grades just keep getting better; shareholders should be excited about the potential of this system.”

Mineral resource update set for April

A massive 29,500m of drilling has been completed to date, with the results set to inform the mineral resource estimate (MRE) update targeted for April 2022.

The MRE update will comprise a maiden estimate of Gem Restored in addition to updates at Gem, Harbour View and Flag.

MM8’s Flag update will incorporate copper and silver to the existing estimate but will not include any new drill data.

Flag and other deposits will be updated again during 2022 when the results from the current round of drilling are in hand.

Drilling continues

Two drill rigs – one RC and one DDH – have been deployed at KMC.

Both are active at the Flag deposit, targeting down-dip and down-plunge extensions to the high-grade mineralisation.

DHEM surveying is also underway at Kundip, Ariel, Old Gregg and Meridian prospects with results anticipated in May 2022.

 

 

 

This article was developed in collaboration with Medallion Metals, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

 

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