Harbour View mineralisation gets Medallion Metals jumping
Medallion’s step-out drilling has intersected visual mineralisation that indicates significant extensions to known mineralisation at the Harbour View deposit.
Holes targeting extensions to the Harbour View and May lodes intersected visual quartz-sulphide mineralisation – of characteristic Kundip style quartz-pyrite-chalcopyrite veins – up to 180m from the closest drilling.
The nearest previous holes had returned results such as 2.38m grading 4.26 grams per tonne (g/t) gold, 7.19% copper and 37.35g/t silver from 231.2m (DD21KP997) and 1.75m at 4.08g/t gold, 17.94% copper and 40.4g/t silver from 173m (DD18KP884)
Medallion Metals (ASX:MM8) says the drilling validates its structural geological model and clearly shows the system is expansive and capable of delivering material resource growth.
Adding further interest, drilling at Harbour View North targeting the down-hole electromagnetic conductor also recorded massive sulphides and a 14m shear zone that is believed to be an extension of the Gem deposit.
“These outstanding visual results are evidence of significant extensions of the Harbour View and May structures and provide further confidence in the structural and geological continuity of mineralisation,” managing director Paul Bennett says.
“Our project team is developing an excellent handle on what is controlling this system and these results demonstrate our ability to materially extend mineralisation quickly and efficiently.
“Subject to assay results, shareholders should expect to see further resource growth in this area.”
Assays are pending with about 13,000m of drilling at the Kundip Mining Centre yet to be reported. An updated resource for the KMC is also due to be released in mid-June.
The Harbour View deposit is located within the central area of the KMC within the greater Ravensthorpe gold project in Western Australia.
Mineralisation strikes north-northeast for about 1km and is hosted in sub-vertical, parallel quartz-sulphide veins within a chloritic shear zone.
Shallow southeast dipping, east-northeast striking cross lodes are observed extending from Harbour View at May and at Omaha.
Visual estimations of mineralisation from diamond drilling targeting the Harbour View South lode have confirmed a roughly 180m strike extension to the south and validates the current geological model.
Medallion has completed over 46,000m of reverse circulation and diamond drilling at the RGP since it listed on the ASX in March 2021.
Of that, 40,696m was carried out at KMC with the remainder completed at highly prospective regional targets.
Results have now been reported 156 of the 211 holes drilled at the KMC.
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.