The Medallion Metals (ASX:MM8) crew quietly returned to the scene of the crime over the weekend to begin their long-planned 10,000m drill program at the flagship Ravensthorpe Gold Project.

The 10,000m programme of Reverse Circulation and Diamond Drilling will be undertaken at the Kundip Mining Centre (KMC), where a new resource is expected to be released in November and which already hosts to the company’s JORC 2012 Mineral Resource Estimate (MRE) of 1.1 million ounces of gold and 50,000 tonnes of copper metal contained (1.37Moz gold equivalent (AuEq).
Earlier this month, step out drilling delivered stunning, high-grade gold and copper out of MM8’s KMC, with the results from step out drilling beyond the limit of the Harbour View deposit at Kundip revealing the kind of high-grade gold and copper hits – extending for up to 180m beyond the limit of the existing resource – to make hard cases like senior resources reporter Josh Chiat blush.

A recap is in order:

7.15m @ 3.61g/t Au, 1.55 % Cu, 7.69g/t Ag from 142.37m (DD22KP1149)

6m @ 3.56g/t Au, 0.1 % Cu, 3g/t Ag from 43m (DD22KP1092)

3.43m @ 5.68g/t Au, 2.07 % Cu, 17g/t Ag from 207.3m (DD21KP1073)

5m @ 3.16g/t Au, 0.84 % Cu, 5.3g/t Ag from 41m (DD21KP1073)

3.35m @ 4.45g/t Au, 0.69 % Cu, 6.36g/t Ag from 83.00m (DD22KP1147)

1.07m @ 10.19g/t Au, 5.43 % Cu, 38.92g/t Ag from 80.38m (DD22KP1147)

1.35m @ 7.39g/t Au, 1.73 % Cu, 13.08g/t Ag from 243.18m (DD22KP1148)

2.8m @ 1.81g/t Au, 1.78 % Cu, 9.56g/t Ag from 193m (DD21KP1091)

As Josh said: What a list!

Significant extension

With gold and copper struck 180m to the south – more than a footy field away – and down plunge from Medallion’s closest drilling, that’s what we call a significant extension.

The Gem and Harbour View deposits made the most significant contributions to growth of the MRE in June 2022 and this aggressive drill programme has been designed to target depth and strike extensions of these two highly prospective mineralised systems.

Of particular interest to managing director Paul Bennett and his team – a number of drill holes which will also test the area where the Harbour View and Flag lodes are projected to intersect (Figure 2), also what’s known in the biz as a high-ranking conceptual target.

Pic Via MM8

Several holes to the west of Gem and Harbour View will target shallow SAM geophysical anomalism. And excitingly, the majority of drilling is targeting areas well outside the limits of the current MRE boundaries.

Bennett told Stockhead that if the Gem and Harbour View structures do extend to the target positions the drilling has the potential to significantly and positively reshape (the already handsome) KMC MRE.

“It’s an exciting time for the company and its shareholders with drilling underway once again at Kundip.

“The previous round of drilling will continue to drive growth in mineral resources and just as importantly that work provides a platform from which to launch this next round of aggressive drilling.

“The team has done an outstanding job and are well prepared for this next phase of growth at Kundip. Medallion has momentum with drill results pending, another resource update due before the end of the year and then the results to flow from this upcoming work,” he added.




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.