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Medallion Mines (ASX:MM8) - Managing Director, Paul Bennett (left) - The Market Herald
Managing Director, Paul Bennett (left)
Source: Medallion Mines
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  • Medallion Metals (MM8) has begun a 32,000-metre drill program at its flagship Ravensthorpe Project in WA
  • Of the 32,000 metres, roughly 26,000 metres will be drilled at the Kundip Mining Center to target the depth and strike extensions of known high-grade deposits
  • The first area to be drilled is the Gem Restored prospect with work to be undertaken by Precision Exploration Drilling
  • First results are expected to be received by mid-May and a second drilling rig will mobilise to site next week
  • Medallion has ended the day 2 per cent in the green with shares trading at 25.5 cents

Medallion Metals (MM8) has begun a 32,000-metre drill program at its flagship Ravensthorpe Project.

The Ravensthorpe Project lies 550 kilometres southeast of Perth and extends over roughly 290 square kilometres of Archean geology.

Of the 32,000 metres, roughly 26,000 metres will be drilled at the Kundip Mining Center to target the depth and strike extensions of known high-grade deposits.

The first area to be drilled is the Gem Restored prospect which is an advanced exploration target subject to historical drilling.

The prospect is characterised by shear zone gold-copper mineralisation and is observed as a series of sub-parallel mineralised structures.

Medallion began preparing for this drilling program in mid-March and stated it had chosen Precision Exploration Drilling to undertake the work.

First results are expected to be received by mid-May.

"It's a credit to the project team to get up and running safely and within this short timeframe," Managing Director Paul Bennett said.

"With drilling now underway, we're looking forward to reporting the first drill results in May and the pace of that reporting increasing as the second rig mobilises to site next week," he added.

Medallion has ended the day 2 per cent in the green with shares trading at 25.5 cents in a $42.43 million market cap.

MM8 by the numbers
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