Medallion Metals Limited (ASX:MM8) has kicked off the planned 10,000m drill programme at the company’s flagship Ravensthorpe Gold Project in WA.
The 10,000m programme of Reverse Circulation (RC) and Diamond (DD) drilling will be undertaken at the Kundip Mining Centre (KMC), which is host 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).
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, a number of drill holes will also test the area where the Harbour View and Flag lodes are projected to intersect, a high ranking conceptual target. Several holes to the west of Gem and Harbour View will target shallow SAM geophysical anomalism.
The majority of drilling is targeting areas well outside the limits of the current MRE boundaries. Success in demonstrating that the Gem and Harbour View structures extend to the target positions, has the potential to have a significant positive impact on the KMC MRE.
It’s an exciting time for the company and its shareholders with drilling underway once again at Kundip,” Managing Director, Paul Bennett, said.
“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.”
