Medallion Metals has reported significant high-grade drilling results extending the Gem deposit at its Kundip Mining Centre, reinforcing growth potential and supporting the early mine plan at the Ravensthorpe Gold Project.
- Gem deposit extended east and at depth with high-grade intercepts
- Multiple assays confirm strong gold and copper grades
- Approximately 5,000 metres of assay results still pending
- Development activities advancing with underground mine planning
- Further drilling planned to test new electromagnetic targets
High-Grade Drilling Boosts Confidence in Kundip Mineral System
Medallion Metals Limited (ASX:MM8) has unveiled robust drilling results from its Kundip Mining Centre (KMC) that extend the high-grade Gem deposit both laterally and at depth, underpinning the broader growth potential of the Ravensthorpe Gold Project (RGP). The standout intercept includes 4.92 metres grading 15.5 g/t gold and 0.9% copper (16.3 g/t AuEq) from 394 metres downhole, with a spectacular 0.3-metre section hitting 204 g/t gold and 7% copper (210.2 g/t AuEq). These figures reinforce the deposit’s capacity to deliver significant ounces close to planned underground infrastructure.
Gem and Harbour View Drilling Reveal New Growth Horizons
The latest drilling campaign, comprising around 10,870 metres of the planned 15,762 metres, has successfully pushed mineralisation boundaries at Gem and Harbour View deposits. Notably, the Gem deposit’s mineralised system now appears to occupy a distinct, steeply south-dipping fault-controlled domain, separate from previously known lodes, presenting fresh avenues for down-plunge extensions. Harbour View’s infill and extensional drilling also delivered high-grade hits, including 2 metres at 18.9 g/t gold and 0.7% copper from 117 metres, confirming the robustness of inferred resources earmarked for early mining.
Pending Assays and Electromagnetic Targets Shape Next Steps
With approximately 5,000 metres of assay results still awaited, Medallion Metals is poised to refine its resource model and mine plan further. The company is prioritising drill testing of newly identified deep electromagnetic (DHEM) conductors at Harbour View and Hillsborough Deeps, areas that have shown promising high-conductance anomalies indicative of potential undiscovered mineralisation. This targeted approach aims to unlock additional ounces beneath the current resource footprint, which could materially extend the mine life at KMC.
Development Progress Aligns with Exploration Momentum
Parallel to exploration, Medallion is advancing underground mine development preparations at Ravensthorpe, with engineering, mine planning, and procurement activities progressing well. Tendering for site civil works and underground mining services is in advanced stages, signalling readiness to transition from exploration to production. Meanwhile, at the Forrestania Gold Project, the Early Production Strategy is unfolding as planned, with refurbishments at the Cosmic Boy Concentrator underway under an agreement with GR Engineering Services Ltd, complementing the company’s broader growth ambitions.
Bottom Line?
Medallion’s latest drilling results reinforce the potential for meaningful resource growth at Kundip, but the pending assays and upcoming electromagnetic target tests will be pivotal in defining the scale and timing of future mine expansions.
Questions in the middle?
- How will the pending 5,000 metres of assay results influence the updated resource estimates and mine plan?
- Can the newly identified steeply dipping fault-controlled domain at Gem unlock a significant new mineralised corridor?
- What impact will the advanced tendering and development activities have on Medallion’s production timeline at Ravensthorpe?