Medallion Metals is crowing about unearthing yet another solid discovery, after conclusion of preliminary drilling at The Gift prospect in Western Australia. 

The Gift prospect represents an early-stage target within the Kundip Mining Centre (KMC) where results from preliminary drilling have returned 2m at 7.89 g/t gold, 0.19% copper and 0.35 g/t silver from 44m, including 1m at 14.4g/t gold, 0.28% copper and 0.25g/t silver from 44m.

Other results include 1m at 4.66 /t gold, 0.19% copper, 8.7 /t silver from 59m and 1m at 5.42g/t gold, 0.05% copper and 0.25g/t silver from 50m.

A total of 11 reverse circulation (RC) holes for 1,490m were completed throughout 2021-22 at the northern end of Gift, where the object was to investigate down-dip extensions to historical workings.

Previously unreported historical results included 6m @ 3.34 g/t gold, 0.60% copper, 0.75 g/t silver from 31m, 4m @ 5.06 g/t gold, 2.45% Copper, 11.75 g/t silver from 66m and 3m at 4.49 g/t gold, 1.42% Copper, 13.0 g/t silver from 73m.

Plenty of scope for delineation of new high-grade lodes

Medallion Metals (ASX:MM8) managing director Paul Bennett says the results confirm the structure is continuous over at least two kilometres and is analogous in many ways to Harbour View, where there’s already been great success.

“Drilling remains shallow and there is plenty of scope for new high-grade lodes to be delineated in close proximity to the more mature deposits, underlining the enormous prospectivity of the KMC,” Bennett says.

Further drilling is being planned at Gift later in 2022 but in the near term, the company remains focussed on the impending release of the updated Kundip MRE – which will include roughly 26,000m of new drilling.

Exploration program update

Medallion has completed over 46,000m of combined RC and DDH drilling at RGP since listing on the ASX in March 2021.

Drilling recently concluded and there are currently no drill rigs deployed at the company’s projects. Rehabilitation of drill pads has begun, and a full review of the data gathered during the 2021 and 2022 drill programs is now underway.

Work programs include structural mapping and analysis, processing, and interpretation of DHEM surveys and ground based Sub-Audio Magnetic (SAM) surveys completed during the drilling at RGP. These various work streams will form the basis for planning future drill programs.




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.