Multiple Massive Sulphide Intercepts at Harbour View Reinforce 1.46Moz Ravensthorpe Resource
Medallion Metals Limited has intersected multiple zones of semi-massive to massive sulphides at its Harbour View deposit, reinforcing confidence in the continuity of mineralisation at the Ravensthorpe Gold Project. Ongoing metallurgical testwork and drilling progress the company toward a Final Investment Decision in late 2025.
- Multiple diamond drill holes intersect semi-massive to massive sulphides at Harbour View
- Four wedge holes closely replicate primary hole DD24KPMET004, confirming mineral continuity
- Assays pending, with results expected in late February to inform updated Mineral Resource Estimate
- Metallurgical testwork underway to assess processing at Forrestania’s Cosmic Boy flotation plant
- Final Investment Decision targeted for late 2025 amid advancing transaction and permitting workstreams
Strong Visual Confirmation of Mineralisation
Medallion Metals Limited (ASX: MM8) has reported encouraging visual results from diamond drilling at the Harbour View deposit within its Kundip Mining Centre, part of the flagship Ravensthorpe Gold Project (RGP). The recent drilling intersected semi-massive to massive sulphides, closely matching historical high-grade intercepts, notably the 1976 hole K4N1 which returned 9.6 metres at 15.1 g/t gold and 4.8% copper.
Four wedge holes drilled off the primary hole DD24KPMET004 have replicated the thickness and mineral abundance of the primary intercept, enhancing confidence in the geometric continuity of the mineralisation. These visual observations are consistent with proximal historical drilling, reinforcing the structural interpretation of the deposit.
Assays and Metallurgical Testwork to Refine Project Economics
While assay results for the primary hole are anticipated by late February, the company has already dispatched the entire mass of the four wedge holes for metallurgical testwork. This work is being conducted at Bureau Veritas under the supervision of GR Engineering and aims to optimise processing parameters for the Ravensthorpe sulphide material at the established Cosmic Boy flotation plant in Forrestania.
This metallurgical drilling is the first of five planned holes at the Kundip Mining Centre, with the second hole currently underway. The results will be critical in refining the process engineering and underpinning the economic viability of the proposed underground mining operation and ore haulage to Forrestania.
Strategic Transaction and Development Progress
In August 2024, Medallion entered into an Exclusivity Agreement with IGO Ltd to negotiate the acquisition of Forrestania Nickel Operation assets, including the Cosmic Boy processing plant. This transaction, alongside ongoing permitting and technical studies, is progressing positively toward a Final Investment Decision (FID) targeted for late 2025.
Managing Director Paul Bennett highlighted that these drilling results are a key de-risking step, visually confirming deposit geometry and bolstering confidence ahead of assay results. The integration of Ravensthorpe’s resources with Forrestania’s infrastructure presents a compelling opportunity to establish a new gold and copper producer in Western Australia.
Context within the Ravensthorpe Gold Project
The Ravensthorpe Gold Project hosts a global Mineral Resource Estimate of 1.46 million ounces gold equivalent at 2.5 g/t AuEq. The Kundip Mining Centre, where Harbour View is located, is a significant sulphide resource target with historical production and extensive drilling data supporting its potential.
Medallion’s current 15,000-metre drill program aims to grow and upgrade the high-grade sulphide resource base. An updated underground Mineral Resource Estimate is expected in the first half of 2025, which will incorporate the forthcoming assay results from this drilling phase.
Looking Ahead
With assay results pending and metallurgical testwork underway, Medallion Metals is methodically advancing the technical and commercial foundations of the Ravensthorpe Project. The company’s strategic approach to combining resource growth, processing optimisation, and infrastructure acquisition positions it well to unlock value in this emerging Western Australian gold-copper asset.
Bottom Line?
Medallion’s drilling success and advancing studies set the stage for a pivotal resource update and investment decision later this year.
Questions in the middle?
- What will the assay results reveal about the grade and continuity compared to historical data?
- How will metallurgical testwork outcomes influence processing strategies at the Cosmic Boy plant?
- What are the key terms and timing risks associated with the proposed Forrestania asset acquisition?
