Medallion Metals Reports Promising Drilling Results at Kundip Mining Centre

Medallion Metals Limited (ASX: MM8) has reported encouraging drilling results from its exploration activities at the Kundip Mining Centre, which forms a central part of the Ravensthorpe Gold Project located in Western Australia. The recent findings highlight strong potential for expanding the high-grade gold and copper resources already established in the area.

At the Gem deposit, extensional drilling has intersected notable mineralization including 6 meters at 4.6 grams per tonne (g/t) gold, 1.0% copper, and 9.1 g/t silver from a depth of 343 meters. This interval includes a higher-grade section of 2 meters at 11.2 g/t gold, 2.4% copper, and 19.5 g/t silver. These results lie approximately 60 meters below the current mine plan and 80 meters outside the existing Mineral Resource Estimate boundary, suggesting significant upside potential for resource extension.

A new sulphide lode has also been identified at the Gem deposit. This lode is located around 320 meters below surface and 60 meters into the footwall of the main mineralized zone. Drill data revealed 6.7 meters of semi-massive to massive sulphides, indicating the presence of a previously unrecognized and potentially valuable mineralized structure.

At the Harbour View deposit, additional drilling has confirmed high-grade mineralization with results such as 16 meters at 8.95 g/t gold from a depth of 36 meters, including a standout section of 5 meters at 26.4 g/t gold. These findings demonstrate further opportunity for resource expansion in the Kundip area.

The Kundip Mining Centre currently hosts a Mineral Resource Estimate of 1.46 million ounces of gold equivalent at an average grade of 2.5 g/t. Medallion Metals is undertaking a 15,000-meter drilling campaign aimed at increasing both the size and confidence level of the resource. An updated mineral resource estimate is expected to be released in the first half of 2025.

These exploration results support Medallion Metals’ broader strategy to develop the Ravensthorpe Gold Project into a significant gold and copper operation. With favorable infrastructure, robust drilling results, and strong local support, the company is well-positioned to advance toward production in the coming years.