Raiding Kundip: Medallion intersects 16m at 9 g/t gold as Ravensthorpe shines
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Infill drilling at Medallion’s Harbour View North deposit has intersected shallow, high-grade mineralisation with diamond drill-hole DD21KP1005 confirming a new footwall lode.
Harbour View North is part of the Kundip Mining Centre and within the greater Ravensthorpe Gold Project (RGP), which hosts the current JORC 2012 mineral resource estimate of 674,000 gold ounces.
Medallion Metals (ASX:MM8) expects the results to positively impact the pit design and Ravensthorpe Gold Project economics as drilling continues at a rapid rate – assays are already pending on a significant number of holes.
These results from the 2021 drilling program continue to add confidence to the continuity and high-grade tenor of the resource model, whereby mineralisation is hosted in multiple shear lodes that crosscut the stratigraphy.
Medallion completed around 29,000m of RC and DDH drilling at the Ravensthorpe Gold Project when drilling paused briefly over the latter part of December and kicked off again on January 6.
A mineral resource estimate is earmarked to take place in the March quarter – subject to laboratory assay turnaround times with around 30,000m of new drilling to be incorporated in the upgrade.
MM8 managing director Paul Bennett said the “impressive results” further validate the company’s belief in the Ravensthorpe Gold Project.
“The potential discovery of a new lode in the footwall increases the prospectivity of this area and demonstrates once again Kundip’s potential to throw up new opportunities,” he said.
The first diamond hole, DD21KP1005 at the Omaha cross lode, has confirmed a new footwall lode to the HVN system first identified by RC21KP1001 that hosted 3 metres at 9.19 g/t gold, 0.15% copper, 3.42 g/t silver from 69m.
Other zones of mineralisation were intersected here, including 5m at 0.84 g/t gold from 147m, 0.3m at 7.75 g/t gold, 0.72% copper, 30.8 g/t silver from 153.86m, and 2.1m at 11.71 g/t gold, 0.94% copper, and 11.87 g/t silver from 160.2m.
Quartz and hematite veining between 44 – 49m.
Two drill rigs (one RC and one DDH) are currently at the project undertaking extensional drilling at Harbour View and Gem within KMC.
Medallion says it expects to maintain a RC and DDH rig at RGP through the first half of 2022, with the primary focus being infill and extensional drilling at KMC in addition to follow up drilling at the Meridian and Ariel regional prospects.
Of the 172 holes drilled during 2021 there have been assays reported for 149 holes, representing roughly 20,500m of drilling.
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.