These latest high-grade hits round out the assays from the first phase of the 2022 drill program and will be incorporated into the upcoming November mineral resource estimate.

A program of reverse circulation (RC) and diamond drilling for 5,300m was undertaken across Medallion Metals’ (ASX:MM8) Flag deposit, the southernmost known gold-copper deposit within the wider Kundip Mining Centre (KMC) in WA’s Ravensthorpe Greenstone Belt.

The KMC is part of the Ravensthorpe Gold Project (RGP), spanning some 208 square kilometres, which benefits from excellent infrastructure easily accessed by sealed roads with an airstrip around 10km to the south.

An assortment of high-grade results has been returned within the SE plunge at Flag Central, where Norseman Gold previously mined in the 1980s.

These hits include 4.9m at 8.1g/t 0.27% coper and 5.09g/t silver from 285m, 3.6m at 13.3g/t gold, 0.44% copper and 13.9g/t silver from 351m, as well as 4.14m at 4.4g/t gold, 0.29 % copper, and 6.97g/t silver from 218m.

Possibility to yield high margin material

“Flag has delivered exceptional results,” managing director Paul Bennett says.

“All the holes intersected the structure giving the team great confidence in the continuity of the deposit and the ability to further extend the structure with further drilling.

“The exceptional grades in many of the holes demonstrate the potential of Flag to yield high margin material.”

Medallion now has all the data in hand to inform the next Kundip mineral resource update, Bennett adds.

“We look forward to releasing that result in the coming weeks as we continue to build critical mass at RGP.”

What lies ahead?

Drilling at Flag West continued to confirm the modelled position of the main lode WITH structural analysis of diamond drill core a priority in November.

In combination with down-hole electromagnetic surveys currently underway, the results of the analysis will assist future drill targeting of these very high-grade shoots at Flag.




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.