- Medallion Metals (MM8) strikes 118 grams per tonne (g/t) gold at the Flag deposit within its flagship Ravensthorpe gold project in Western Australia
- The company has received results from extensional drilling within the Kundip Mining Centre that give “great confidence” the deposit can be mined from underground
- Drilling extended Flag at depth, returning assays including 0.45 metres at 118 g/t gold, 9.3 per cent copper, 61.1 g/t silver from 319.9 metres
- The new results will be incorporated into an upcoming mineral resource estimate, which is slated for a February release
- Medallion Metals shares were trading at 15.5 cents at 3:59 pm AEDT
Medallion Metals (MM8) has struck up to 118 grams per tonne (g/t) gold at the Flag deposit within its flagship Ravensthorpe gold project in Western Australia.
The company has received results from extensional drilling within the Kundip Mining Centre, positioned 550 kilometres southeast of Perth.
Drilling extended Flag at depth, returning assays including 0.45 metres at 118 g/t gold, 9.3 per cent copper, 61.1 g/t silver from 319.9 metres and 0.92 metres at 34.2 g/t gold, 0.5 per cent copper, 16.4 g/t silver from 283 metres.
“Exciting high-grade results like these continue to build confidence at Flag,” Managing Director Paul Bennett said.
“These results, combined with previous drilling and historical underground mapping, give us great confidence the deposit can be mined successfully from underground.”
The structure remains open, leaving the possibility for further extensions from follow-up drilling.
The new results will be incorporated into an upcoming mineral resource estimate, based on between 12,000 metres and 15,000 metres of drilling, which is slated for a February release.
Medallion Metals shares were trading at 15.5 cents at 3:59 pm AEDT.