Medallion Metals

Extensional Drilling Further Expands Mineralisation at Gem

Substantial down dip extensions to large shallow gold deposit

Medallion Metals Limited (ASX:MM8, the Company or Medallion) is pleased to report extensional drilling results down-dip of the Gem deposit within the Kundip Mining Centre (KMC)(Figures 1&2). KMC is host to a JORC 2012 Mineral Resource Estimate (“MRE”) of 1.37Moz AuEq @ 2.60g/t AuEq


HIGHLIGHTS

     
  • Assays from 2022 drilling continue to extend Gem down-dip;
    • 7m @ 5.3 g/t Au, 0.44 % Cu, 5.2 g/t Ag from 161m (RC22KP1095) including
      • 1m @ 26.4 g/t Au, 2.65 % Cu, 23.4 g/t Ag from 164m
    • 5m @ 7.1 g/t Au, 0.37 % Cu, 2.8 g/t Ag from 209m (RC22KP1099) including
      • 1m @ 22.7 g/t Au, 1.0 % Cu, 7.8 g/t Ag from 210m
    • 5m @ 6.3 g/t Au, 0.09 % Cu, 1.05 g/t Ag from 123m (DD22KP961)
    • 1m @ 34.7 g/t Au, 2.36 % Cu, 27.0 g/t Au from 103.1m (DD22KP1035) including
      • 0.55m @ 62.6 g/t Au, 4.27 % Cu, 48.4 g/t Ag from 103.1m
    • 10m @ 2.5 g/t Au, 0.16 % Cu, 1.95 g/t Ag from 131m (RC22KP1106)
    • 8m @ 2.8 g/t Au, 0.12 % Cu, 1.3 g/t Ag from 77m (RC22KP1106) including
    • 5m @ 3.4 g/t Au, 0.47 % Cu, 5.2 g/t Ag from 181m (DD22KP1077)
    • 7m @ 2.7 g/t Au, 0.27 % Cu, 2.0 g/t Ag from 242m (RC22KP1101)
      • 1m @ 7.5 /t Au, 1.23 % Cu, 9.3 g/t Ag from 243m
    • 12m @ 0.95 g/t Au, 0.04 % Cu, 1.2 g/t Ag from 147m (RC22KP1095)
  • Drilling results post-date the cut-off for recent Mineral Resource Estimate (MRE) with reported intercepts all situated at the extremities, or outside the 2022 Inferred category
  • Mineralisation at the western end of Gem continues to exhibit multiple shallow dipping high-grade quartz-sulphide lodes with significant opportunity for additional resources to be added to the current MRE

Managing Director, Paul Bennett, commented:

"Ongoing results from the 2022 extensional drilling program continue to expand mineralisation at Gem. The majority of results received are at the periphery of, or outside the recently updated 1.4 million ounce gold equivalent Mineral Resource giving us great confidence that further resource growth can be expected. Mineralisation appears open at depth with future drilling being planned to further our understanding of the full scale of the Kundip system.”

Click here for the full ASX Release

This article includes content from Medallion Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

MM8:AU
The Conversation (0)
Piche Resources

Piche Resources


Keep reading...Show less
Steve Barton: Gold, Silver, Uranium — Price Targets and Key Levels to Watch

Steve Barton: Gold, Silver, Uranium — Price Targets and Key Levels to Watch

During an interview with the Investing News Network's Charlotte McLeod, Steve Barton of In It To Win It shared his outlook on gold, silver, uranium and more, highlighting how he uses technical analysis to guide his trades.

“Whatever is out of favor and hated at the moment, that’s probably what you need to buy,” he said. “Buy it when it’s boring and no one cares, then you get to ride the wave up.”

Keep reading...Show less
Quimbaya Gold (CSE:QIM)

Quimbaya Gold


Keep reading...Show less

Latest Press Releases

Related News

×