Medallion Metals Limited (ASX:MM8) Reports Positive Drilling Results at Kundip
Drilling Success at Harbour View
Medallion Metals Limited (ASX:MM8) reported encouraging results from its ongoing drilling program at the Harbour View lodes within the Kundip Mining Centre. Significant assays have been obtained from in-fill drilling, including intercepts of 7m at 6.0g/t Au, 0.3% Cu, and 2.3g/t Ag, and 2m at 8.7g/t Au, 0.9% Cu, and 3.5g/t Ag.
These results affirm the continuity of the mineral structure at depth, with drill holes indicating that the main lode remains open for further exploration. The current drilling program aims to inform an updated Mineral Resource Estimate due in the first half of 2025, supporting a Final Investment Decision on the proposed Ravensthorpe-Forrestania gold-copper production project.
Executive Comments
Paul Bennett, Managing Director of Medallion Metals, expressed satisfaction with the latest drilling outcomes. “On balance, these results indicate a positive trend,” Bennett noted. “The confirmation of continuity in the main lode is promising as we prepare for future mining operations. The pre-collar data from the May lode also hints at potential upside for future reserves.”
Project Development Status
The company is advancing multiple workstreams to expedite reaching a project Final Investment Decision. This includes converting inferred resources to indicated categories, progressing environmental permitting, and further evaluating the acquisition of the Cosmic Boy Processing Plant from IGO Ltd.
The ongoing 15,000 metre drilling campaign is expected to conclude early next year, and the updated Mineral Resource Estimate will provide critical insights into the potential size and confidence of the high-grade sulphide underground resource at the Kundip Mining Centre.
This announcement reflects Medallion Metals Limited’s commitment to enhancing its project value through strategic drilling and resource estimation initiatives.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.