Announcement Date: 2022-06-07
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Medallion Metals Ltd.
Project name: Ravensthorpe
Location: Australia
Commodities: Gold,Silver,Copper
Highlight: Drilling results incl. 1.75m @ 4.08g/t Au, 17.94% Cu, 40.4g/t Ag
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Medallion Metals Limited (ASX:MM8, the Company or Medallion) is pleased to report exciting visual results from diamond drilling at the Harbour View deposit, part of the Kundip Mining Centre (KMC). The Harbour View deposit is situated in the central area of KMC within the greater Ravensthorpe Gold Project (RGP) (Figure 2). Mineralisation strikes north-northeast for ~1km, cross-cutting andesitic to dacitic volcaniclastics with minor andesite and rhyolite lavas units of the Annabelle Volcanics. Mineralisation is hosted in sub-vertical, parallel quartz-sulphide veins within a chloritic shear zone. Shallow southeast dipping, eastnortheast striking cross lodes are observed extending from Harbour View at May and at Omaha. Visual estimations of mineralisation from diamond drilling at Harbour View South lode confirm a ~180m strike extension to the south and validates the current geological model. Diamond drill hole DD22KP1094 is situated at the southern end of Harbour View and was collared 80m to the south of DD21KP997 and 110m south of DD18KP884 targeting the copper rich high-grade plunge. DD21KP997 recorded 2.38m @ 4.26 g/t Au, 7.19% Cu, 37.35 g/t Ag from 231.22m and DD18KP884 recorded 1.75m @ 4.08 g/t Au, 17.94% Cu, 40.4 g/t Ag from 173.0m (refer to ASX announcement 18 November 2021). Mineralisation in DD22KP1094 consists of 2.05m of quartz-sulphide veining from 162.6m (Figure 3). Total sulphide abundances have been estimated at 60% comprised of 20%
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