Medallion Metals Limited (ASX:MM8) has secured Reverse Circulation (RC) and Diamond Drill (DD) drill rigs for the remainder of 2022 in Western Australia.
Key Points
• Medallion has secured reverse circulation and diamond drill rigs for the recommencement of drilling at the 1.37Moz AuEq1 Ravensthorpe Gold Project
• Drilling is scheduled to restart in the first week of September 2022
• Initially circa 10,000 metres of drilling to be undertaken targeting extensions to established Mineral Resources and priority near mine and regional targets
• Assays pending for approximately 8,000 metres of completed drilling to be reported in the coming weeks
The drill rigs will mobilise to the company’s flagship Ravensthorpe Gold Project (RGP) during early September to target extensions to the recently updated 1.37Moz AuEq Mineral Resource Estimate (MRE) at the Kundip Mining Centre (KMC), as well as priority near mine and regional prospects.
The company anticipates completing approximately 10,000m of combined RC and DD drilling prior to the end of 2022.
A further upgrade to the MRE is planned in November which will incorporate approximately 15,000 metres of drilling already completed at KMC during 2022 and subsequent to the data cut off point for the June 2022 MRE upgrade.
Assays are also pending for circa 8,000m of that drilling which will be released to the market over the coming weeks upon receipt of results.
“The team is excited to have secured the rigs which will enable us to commence a new and aggressive drilling programme to further expand the resource at Ravensthorpe,” Managing Director, Paul Bennett, said.
“It’s good to be partnering with Westcore and Precision Exploration Drilling again who have done a great job for us previously. With a short break to process what we learned from the first programme, 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.”
For further information please visit: https://medallionmetals.com.au/
