Medallion Metals latest assays further develop open pit potential of Harbour View and the greater district-scale potential of its Ravensthorpe Gold Project just inland of Western Australia’s southern coast.
Leading the explorer’s latest round of results was a 12 metre at 4.27 grams per tonne gold intersection and boasted similar results plus bonus copper and silver finds to boot.
An impending April resource update already loomed as significant with previous high-grade strikes at Harbour View and Ariel, just two kilometres along strike of the Kundip Mining Centre’s 674-thousand-ounce gold reserve, ready to be absorbed into a 30,000 metre upgrade.
The copper hits of Harbour View deserve a mention, while not the headliner, an assay of over seven per cent in one metre deserves the raise of an eyebrow with copper’s price remaining strong in spite of a construction slowdown.
The company said importantly the results demonstrate high-grade and continuity along the key structures.
“The results are set to have a significant positive impact on the resource and further illustrates that Harbour View represents a high-grade mining opportunity that remains open both at depth and along strike,” managing director Paul Bennet said.
Medallion plans around 16,000 metres of Ravensthorpe drilling in the first half of this year.
MM8’s Australian Stock Exchange-listed price has risen over 2pc today, currently trading at 22c (11:02 am UTC+8 hours)