Medallion Metals strikes high-grade copper and gold at Ravensthorpe

• MM8 hits up to 10.4g/t gold and 9.4% copper at Kundip Mining Centre
• Company targeting a resource update this month ahead of a feasibility study
• Final investment decision based on processing ore at Forrestania

Special Report: Medallion Metals says drilling at the Kundip Mining Centre, part of its flagship Ravensthorpe project in WA, has returned up to 10.4g/t gold and 9.4% copper.

This follows gold hits of up to 57.5g/t from the Gem deposit – and it’s just the latest in a string of results that highlight the 1.6Moz project could be looking at a solid resource update later this month.

But it’s the copper grades that really stand out. Medallion Metals (ASX:MM8) says they highlight the exceptional growth potential of the deposit at depth.

Best results from the Harbour view deposit include:

• 1.59m at 8.5g/t gold, 8.2% copper, 24.8g/t silver from 191.6m;
• 1.04m at 4.5g/t gold, 8.8% copper, 73.9g/t silver from197.4m;
• 0.97m at 10.4g/t gold, 1.9% copper, 9.6g/t silver from 268.8m;
• 3.08m at 3.1g/t gold, 4.1% copper, 30.3g/t silver from 241.3m; and
• 1.02m at 1.3g/t gold, 9.4% copper, 36.3g/t silver from 196.2m

Best assays from the May lode include:

• 9.35m at 6.7g/t gold, 1.2% copper, 14.7g/t silver from 108m; and
• 5.34m at 3.4g/t gold, 2.3% copper, 15.6g/t silver from 158m.

The resource update will form the basis of a feasibility study due out later this year, which the company says will outline the path to production for WA’s next gold-copper mine.

Advancing towards an investment decision

The feasibility will assess the potential of treating the ore at a modified Cosmic Boy processing plant located at Forrestania, which the company is negotiating the purchase of from IGO.

Determining if the ore from the Kundip Mining Centre can be processed in this manner will be a key element informing the board’s plans to progress towards a final investment decision.

“Further solid results from Harbour View continue to build confidence in the geological interpretation and grade continuity of the deposit,” managing director Paul Bennett said.

“As well as the impressive gold grades, copper assays have delivered some outstanding results.

“Project economics have the potential to be significantly enhanced by co-product grades like those observed in this round of drilling.

“All results from the most recent drill program are now in hand and the update to the mineral resource is well advanced.

“We look forward to reporting the new resource in coming weeks along with other key milestones on the study, permitting and corporate fronts as Medallion advances toward a development decision.”

Geophysical surveys are in the works and are expected to inform planning for further infill and extensional drilling – which is expected to recommence in the third quarter of 2025.

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.