Announcement Date: 2022-07-26
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Medallion Metals Ltd.
Project name: Kundip
Location: Australia
Commodities: Gold,Silver,Copper
Highlight: Drilling results incl. 3.5m @ 17.45g/t Au, 0.26% Cu, 3.12g/t Ag from 133m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Medallion Metals Limited (ASX:MM8, Medallion or the Company) is pleased to report assay results from Phase 2 drilling at the regional Meridian prospect. Meridian is situated approximately 4km to the west of the Ravensthorpe townsite (Figure 1) and 21 kms along strike from the Kundip Mining Centre (KMC) which hosts the Company’s current JORC 2012 Mineral Resource Estimate (“MRE”) of 1.4 Moz at 2.6g/t AuEq1 . All results reported are outside the KMC and current MRE. Figure 1: Plan view of gold and copper anomalism from soil geochemistry within the Ravensthorpe Gold Project highlighting Medallion’s dominant ground holding over the Annabelle Volcanics. The Meridian prospect is situated in the northwest and the Kundip Mining Centre in the south-east. Drilling at Meridian Medallion completed Phase 2 of its drilling programme at Meridian in February 2022 comprising 17 holes for 2,691m, including 3 diamond holes for 695m. Results of the drilling confirmed the presence of a mineralised system at Meridian over at least 700m strike length which remains open in all directions (Figure 3).
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