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- Medallion Metals (MM8) secures reverse circulation (RC) and diamond drill rigs for the remainder of its 2022 drill programs
- Both rigs will mobilise to Medallion’s flagship Ravensthorpe gold project in early September to target extensions to the updated mineral resource estimate at the Kundip Mining Centre
- Medallion expects to complete around 10,000 metres of both RC and diamond drilling before the end of the year
- The company plans to further update the Kundip mineral resource estimate in November and will incorporate data from 15,000 metres of drilling already completed during the year
- Shares in Medallion are up 5.26 to trade at 20 cents at 1:59 pm AEST
Medallion Metals (MM8) has secured reverse circulation (RC) and diamond drill rigs for the remainder of its 2022 drill programs.
Both rigs will mobilise to Medallion’s flagship Ravensthorpe gold project (RGP) in early September to target extensions to the recently updated mineral resource estimate (MRE) at the Kundip Mining Centre.
Medallion expects to complete around 10,000 metres of RC and diamond drilling before the end of the year.
The company plans to further update the Kundip MRE in November and will incorporate data from 15,000 metres of drilling already completed during the year and following the data cut-off point for the previous MRE upgrade.
Assays are pending for around 8000 metres of drilling which will be released to the market in the coming months.
“The team is excited to have secured the rigs which will enable us to commence a new and aggressive drilling program to further expand the resource at Ravensthorpe,” Managing Director Paul Bennett commented.
“With a short break to process what we learned from the first program, we feel like we have an excellent handle on the system now as evidenced by recent outstanding step out holes at the southern end of Harbour View, and we’re confident we can continue to grow the resource to an even more substantial scale.”
Shares in Medallion were up 5.26 to trade at 20 cents at 1:59 pm AEST.
