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MM8 strike more gold at RGP

21 December 2021
ASX: MM8
Rueben Hale

Medallion struck significant gold mineralisation following wide spaced reverse circulation drilling the Arial prospect, part of the company’s whopping 32,000-metre exploration programme at the RGP located midway between the regional centres of Ravensthorpe and Hopetoun. 

Stellar shallow high-grade gold intersections at the site include 26 metres for 1.6 grammes per tonne of gold, one metre at 5.15 g/t from 6m, 1m at 7.52 g/t from 11m, 4m at 1.24 g/t Au from 16m, 3m at 2.92 g/t and 1230 part per million of coppery from 47 metres drilled.  

The second tranche of promising results further support the KDC’s potential as a stand-alone development with Meridian and now Arial underlying the potential of Medallion’s dominant landholding in the Annabelle volcanics, which hosts numerous similar prospects that have yet to be uncovered.  

The drilling at Ariel has shown an 800m mineralised zone that remains open in all directions within the total geochemical and anomalism, extending over 1.4km in strike.  

Ariel is located approximately 200m west from the historically high-grade Ard Patrick prospect, which has not been drilled since the late-1980’s.  

“This is another extremely positive outcome for Medallion,” managing director Paul Bennet said.  

“Ariel is the second regional prospect to be tested after Meridian and has yielded another discovery and is a distinct target area that has the potential to add significant ounces to the Project Resource.    

“Being located only two kilometres along strike from the Kundip Mining Centre significantly increases the potential for the area to support a stand-alone development.  

 “We are ramping up exploration efforts to grow the Resource significantly.  

 “Needless to say, that we will have drilled circa 32,000m after the last Resource update, so we envisage a substantial increase to the Resource inventory when we report in Q1 next year.”  

The company is planning step-out drilling in Q1 of 2022. 

MM8’s Australian Stock Exchange-listed has risen 2.33 per cent today, trading at 22c (10:20 am UTC+8 hours) 

COMPANY OVERVIEW

Medallion Metals is a minerals exploration company based in Perth, Western Australia. The Company is focused on increasing the established resources at its 100% owned Ravensthorpe Gold Project (RGP), situated 550km south-east of Perth. Located in an historically proven mineral field, the Ravensthorpe Gold Project represents an exciting belt scale advanced exploration opportunity which the Company is confident will grow to one day support a long life, low cost gold mine.

COMPANY INFORMATION

ASX: MM8

Website

https://medallionmetals.com.au/
https://www2.asx.com.au/markets/company/mm8

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