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Medallion Metals will be commencing a 9000m drilling program at its Ravensthorpe gold project in Western Australia this November, bolstered by $180,000 in co-funding from the State Government’s Exploration Incentive Scheme (EIS).
The miner said the program will include reverse circulation (RC) and diamond drilling (DD), targeting high-grade gold mineralisation at the Kundip Mining Centre (KMC) in Ravensthorpe, to expand KMC’s mineral resource and support mine-life extensions.
The drilling will also test deeper exploration targets established by recent drilling and geological interpretation, and electromagnetic (EM) surveys in areas Medallion said have had limited historical drill testing.
“Recent drilling and geophysical work at Kundip has further strengthened our confidence in the exploration potential beneath the known high-grade mineralisation,” Medallion managing director Paul Bennett said.
“With fewer than four per cent of historical drill holes extending below 250m and a constantly improving understanding of the deposit, we believe there is a significant potential to be tested at depth.”
Priority targets for the program include Gem Restored, Harbour View, Gem, Hillsborough and Flag, where several high-grade gold-copper intersections remain open along strike or at depth.
Previous drilling at Hillsborough Deeps returned 13.5m at 3.3 grams per tonne (g/t) gold and 5.1 per cent copper from 379.9m, alongside 11.7m at 3.5g/t gold and 2.2 per cent copper from 440m.
Medallion said its latest geological interpretation suggests the known high-grade deposits could represent the upper expression of a larger intrusive-related gold-copper system at depth.
The company has also identified several supporting geological features, including porphyry intrusions, high-temperature mineral assemblages and massive sulphide breccias.
The EIS grant will support approximately 1400m of diamond drilling across two priority deep exploration targets, with an additional $25,000 available for downhole EM surveys.
“We welcome the WA Government’s support through the EIS, which will contribute to the cost of testing these highly prospective gold-copper targets,” Bennett said.
An approximately 800m diamond hole will investigate an EM conductor at Hillsborough Deeps and potential deeper extensions of the Harbour View lode.
A second hole of approximately 600m will target Gem Restored, testing mineralisation more than 400m beneath the surface and investigating its possible connection to a deeper intrusive source.
The exploration campaign comes as Medallion continues advancing its broader Western Australian development strategy, and earlier this month, Medallion began preparing to commence gold processing at its Cosmic Boy concentrator, with first gold production and sales expected in November.
At Kundip, underground development preparations are also progressing, with mining contractor Macmahon preparing to establish the portal in November ahead of the first decline cut in December.
First underground ore remains targeted for the second quarter of 2027, with material destined for processing at Cosmic Boy.
“With drilling contractors mobilising in November, the upcoming drilling will test whether the known high-grade mineralisation is part of a much larger system at depth, with the potential to significantly change our understanding of the scale of the mineralisation at Kundip,” Bennett said.
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