Medallion Metals (ASX:MM8) has commenced a 15,000m Reverse Circulation (RC) and Diamond Drill Hole (DDH) drill programme at the company’s flagship Ravensthorpe Gold Project in WA.
“Since the announcement of the Exclusivity Agreement with IGO to provide a near term processing and production solution for the high grade RGP Gold and Copper Ore, we have wasted no time is pushing forward with the key elements required to bring this production opportunity to fruition,” Managing Director, Paul Bennett, said.
“Infill drilling to de-risk the initial mine plan is now underway and it’s a credit to the Project team to get up and running safely and within this short timeframe since committing to the in-fill program. The majority of planned holes are permitted and we’ve partnered with a first class outfit in Topdrill, so we’re in the best possible position to execute this program safely and efficiently.
“We are also testing some important extensional targets which could further enhance the value of the Project. With drilling now underway, we’re looking forward to reporting the first drill results before the end of the month and the pace of that reporting increasing as the second rig mobilises to site next month.”
The objective of the drill programme is to grow the high-grade sulphide underground resource in both size and confidence as well as support metallurgical testwork and studies assessing processing Ravensthorpe material at the Cosmic Boy Process Plant (Cosmic Boy) located at Forrestania, which is the subject of continuing exclusive negotiations with IGO Limited (IGO).
Additionally, Medallion will test several high priority, near mine and early stage exploration targets within and at the periphery of the Kundip Mining Centre (KMC) which forms part of RGP.
In particular, targeting the projected intersection of the Flag and Harbour View deposits and the emerging large-scale 800m x 150m surface copper anomaly at Flanders, which sits within the granted Mining Lease boundary of the proposed RGP development.