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Medallion Metals claim three golds on reconnaissance mission

8 December 2021 10:33
ASX: MM8

MM8 has reported multiple strong conductors at the highly prospective Meridian gold target, part of its Ravensthorpe Gold Project inland of Western Australia’s southern coast.

The first pass has confirmed 700 metres of strike, remaining open in all directions, including three shallow high-grade gold intersections extractable as an open-pit operation.

The target lies 21km on strike across from the Kundip Mining Centre, which hosts a mineral resource estimate of 674 thousand ounces at 2.4 grammes per tonne of gold.

The company said the conductors’ size, strength and location made them compelling drill targets and looks ahead to testing them further.

“The strong responses provide us with additional confidence Meridian can mature into a deposit that can deliver material ounces into the Ravensthorpe Gold Project resource inventory,” managing director Paul Bennett said. Conductors will be prioritised for follow-up testing with reverse circulation and diamond drilling due to commence next month.

MM8’s Australian Stock Exchange-listed price is trading at 18c (8:19 am UTC+8 hours)

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