Medallion Metals (ASX:MM8) drills into promise at Harbour View

Medallion Metals (ASX:MM8) drills into promise at Harbour View

January 28, 2025 Off By MarketOpen

Medallion Metals (ASX:MM8) has delivered a surge of optimism to its Ravensthorpe Gold Project (RGP) with the announcement of significant mineralisation at the Harbour View deposit.

The company’s drilling program at the Kundip Mining Centre (KMC) is rapidly solidifying confidence in the resource’s continuity and potential for development.

Highlights:

  • Diamond drill hole DD24KPMET004 intersected 3.55m of semi-massive to massive sulphides, confirming the mineralisation geometry of historical drill hole K4N1, which recorded 9.6m @ 15.1g/t gold and 4.8% copper.
  • Four wedge holes closely mirrored the parent hole, enhancing confidence in continuity, with samples now undergoing metallurgical test work.
  • Assays for the parent hole are anticipated in late February, with updated resource estimates expected by mid-2025.

A Strategic Push Toward Production

Medallion Metals Managing Director, Paul Bennett, captured the sentiment of progress, stating,

“The drilling visually confirms the deposit geometry and provides great encouragement in relation to assay results which are to follow.

All workstreams underway continue to reinforce the unique and compelling opportunity in front of us as we work toward bringing the Ravensthorpe resources and Forrestania infrastructure together.”

This marks a significant step in Medallion’s ambitious strategy, which includes integrating the Ravensthorpe resources with IGO Ltd’s (ASX:IGO) Cosmic Boy Processing Plant.

The exclusivity agreement signed last year lays the groundwork for transforming RGP into a major gold-copper production hub.

Confidence in Continuity

Drilling at Harbour View has systematically validated historical intercepts, including standout results such as:

  • 4.7m @ 19.6g/t Au and 1.8% Cu (2003)
  • 6.2m @ 14.8g/t Au and 6.2% Cu (2017)

This consistency bodes well for the upcoming metallurgical results, critical to determining the suitability of processing Kundip material at Forrestania.

Next Steps

With metallurgical testing overseen by GR Engineering, Medallion is advancing its de-risking efforts.

The company is aiming for a Final Investment Decision by late 2025, with ongoing drilling set to update the resource model and underpin the project’s economics.

Why It Matters

Medallion’s focus on leveraging existing infrastructure could fast-track its path to production.

As the global appetite for gold and copper remains robust, the potential alignment with Forrestania positions the company to capitalise on both market demand and operational efficiencies.

In an era where resource stories are often weighed down by uncertainty, Medallion Metals is carving a distinctive narrative—one of calculated progress and tangible milestones.

As Bennett succinctly puts it,

“This is a unique and compelling opportunity.”

With assays pending and momentum building, the next few months will be pivotal for Medallion’s journey toward becoming a new player in Western Australia’s gold and copper landscape.

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