Medallion pinpoints district scale opportunity with massive sulphide hit at Ravensthorpe gold project
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Medallion Metals’ reckons the Meridian prospect could present a district scale opportunity at its Ravensthorpe Gold Project.
Diamond drilling at the prospect has intersected 4.6m of disseminated and matrix to massive sulphide mineralisation in the first hole.
Notably, Meridian is 21km along strike from the Kundip Mining Centre – which hosts the company’s current JORC 2012 mineral resource estimate of 674,000 oz at 2.4 g/t gold.
“Given its location 21km along strike from Kundip underlines the district scale opportunity Medallion’s dominant ground holding represents,” MD Paul Bennett says.
Medallion Metals (ASX:MM8) says the mineralisation was intersected at down hole depth predicted by a down hole electromagnetic (DHEM) conductor – which supports DHEM as a key predictive tool.
“This is an outstanding result and full credit to the project team who have stuck to a process they believed in and have undertaken some outstanding exploration work,” Bennett said.
“For the first hole to generate an intersection containing significant massive sulphides validates DHEM as an effective targeting tool at Meridian which greatly enhances our confidence and ability to be predictive.
“Importantly, Meridian has been extended at depth building confidence it’s a mineralised system with scale.”
Multiple additional DHEM conductors remain to be tested, and the company has 3 drill rigs currently deployed at the Ravensthorpe Gold Project.
One RC and one DDH rig are undertaking follow up drilling at Meridian, comprising 16 holes for 2,210m of combined RC and DDH drilling.
A second DDH rig is undertaking infill and extensional drilling at the Kundip Mining Centre.
Medallion expects to demobilise the second DDH rig upon completion of the follow up program at Meridian.
This article was developed in collaboration with Medallion Metals Limited, 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.