Medallion Metals Ltd (ASX:MM8) has deepened its understanding of the Kaolin deposit, part of Kundip Mining Centre (KMC) at the greater Ravensthorpe Gold Project (RGP), with extensional and infill drilling intersecting broad zones of mineralisation open to the south and at depth, indicating possible extensions to the system.
Medallion Metals is a Perth-based mineral exploration company focused on increasing measured resources at its wholly-owned RGP in Western Australia.
Situated in a historically proven mineral field, the RGP represents a belt-scale opportunity for advanced exploration that the company believes will eventually support a long-life, low-cost gold mine.
KMC’s emerging potential
“These results are significant in two key respects. Firstly, the continuity of the broad zones of mineralisation at the western extent of Kaolin provide confidence that material additions to the existing 674,000 ounces of gold resource at RGP can be expected from this area,” Medallion Metals managing director Paul Bennet said.
“The widths and grades are amenable to open pit mining and we’re confident this will lead to extensions of the existing pit design at depth and along strike.
“Secondly, the deep stratigraphic holes into the projected intersection of the Kaolin and Harbour View corridors confirm the system is open to a depth of at least 350 metres below surface.
“When Medallion commenced this drill program in April 2021, the average depth of drilling at KMC was 85 metres below surface and we are now starting to see the potential of the area begin to emerge.”
Drilling results
Drilling will continue over the coming months as MM8 seeks to gather enough data for an updated global mineral resource update, expected to be completed in the March quarter of 2022.
Reverse circulation (RC) drilling confirmed broad zones of mineralisation with strong continuity with known mineralisation zones at the western end of the Kaolin deposit:
- 20 metres at 2.57 g/t gold, 0.14 % copper, 2.25 g/t silver from 38 metres, 9 metres at 2.6 g/t gold, 0.03 % copper, 0.91 g/t silver from 71 metres and 8 metres at 3.4 g/t gold, 0.30% copper, 4.48 g/t silver from 83 metres; and
- 34 metres at 1.56 g/t gold, 0.2 % copper, 2.06 g/t silver from 91 metres, including 21 metres at 1.45 g/t gold, 0.1 % copper, 0.84 g/t silver from 91 metres and 11 metres at 2.01 g/t gold, 0.42% copper, 4.92 g/t silver from 114 metres.
The observed mineralisation remains open down-dip to the south and down-plunge to the southwest. Extensional drilling for this area is already in progress.
Deeper stratigraphic drilling identified multiple mineralised intersections interpreted as down-dip from both Kaolin and the Harbour View deposits, including:
- 1-metre at 12.8 g/t gold, 0.96 % copper, 13.9 g/t silver from 218 metres;
- 0.63 metres at 14.1 g/t gold, 0.87% copper, 6.2 g/t silver from 51.82 metres;
- 16 metres at 0.41 g/t gold from 215 metres; and
- 2 metres at 2.19 g/t gold, 0.12 % copper, 1.23 g/t silver from 331 metres.
These results indicate that the Kundip Mining Centre mineralised systems are open to a depth of at least 350 metres below surface.