Medallion Metals (ASX:MM8) has confirmed its 15,000m drill run at Ravensthorpe is imminent which the company hopes to accelerate a path to copper-gold production.
Combining a Reverse Circulation (RC) and diamond tipped drill rig, on-site by the end of the month, geotechs will effectively conduct in-fill drilling to boost the existing sulphide-based resource, and, collect samples for metallurgical testwork (metwork.)
Metwork results will shore up further understanding of the sulphide characteristics of the feedstock; sulphides are desired in downstream contexts given the refining process is less intensive.
But there’s some excitement, too: the drill run will be tapping unexplored areas, including one of interest associated with a large underground electromag anomaly interpreted to be potential evidence of a mineralised copper system.
“Additionally, Medallion will test several high priority near mine and regional exploration targets within and at the periphery of the Kundip Mining Centre (KMC) which forms part of [the project,]” Medallion wrote on Friday.
In-fill drilling, meanwhile, will ultimately offer the company – and shareholders – a further de-risked project. Medallion is targeting, above all else, near-term copper and gold production. Drillers will take equity for the works.
“It’s great to be on the ground again with drills soon to be turning at Ravensthorpe,” Medallion MD Paul Bennett said.
“The team has done an excellent job having permits in place and all the logistical elements finalised in a short space of time, so we’re well placed to get this program done safely and efficiently.
“We also welcome Topdrill to the Ravensthorpe Gold Project for the first time and we are looking forward to working with them to test these exciting targets.”
MM8 last traded at 5.4cps.