Medallion Metals Limited (ASX:MM8) Reports Significant Drilling Results
Drilling Achievements
Medallion Metals Limited (ASX:MM8) announced the successful intersection of semi-massive to massive sulphides at the Harbour View deposit within the Kundip Mining Centre (KMC). This significant finding comes from multiple diamond drill holes aimed at replicating historical hole K4N1, which recorded impressive results of 9.6m @ 15.1g/t Au and 4.8% Cu.
Four wedge holes have been drilled closely replicating primary hole DD24KPMET004, showcasing similar intercept thickness and mineral abundance. These results bolster confidence in the continuity of the mineralisation from the historical data. Assays for DD24KPMET004 are expected by late February, with additional drill mass dispatched for metallurgical test work.
Metallurgical Testing and Future Plans
Ongoing metallurgical tests are being conducted by Bureau Veritas with oversight from GR Engineering. The results will refine the process engineering required for treating material from Ravensthorpe at the Cosmic Boy flotation plant. Currently, additional drilling is planned, with testing methods designed to inform future investment decisions.
Project Viability
Medallion’s Ravensthorpe Gold Project hosts a global Mineral Resource Estimate of 1.46 million ounces of AuEq. The company is advancing negotiations to acquire the Cosmic Boy Process Plant and endeavours to complete a final investment decision by late 2025. An updated underground Mineral Resource Estimate is anticipated in the first half of 2025, following the completion of a 15,000-metre drilling program.
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.
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