Medallion Metal Ltd continues to report further "outstanding" results from its Harbour View deposit, part of the Kundip Mining Centre, within the greater Ravensthorpe Gold Project (RGP).
Diamond (DDH) and reverse circulation (RC) drilling at Harbour View continues to validate the geological model, confirming that mineralisation is hosted in multiple sub-vertical, shear hosted lodes that crosscut the stratigraphy.
Final assay results from 2021 combined with the recent 2022 drilling program results continue to successfully intercept the targeted high-grade plunges at both Harbour View North and Harbour View South.
All results will be included in the mineral resource estimate (MRE) update targeted for release in April 2022.
The company has three drill rigs operating at the RGP.
Assays are pending for some 43 holes representing around 11,000 metres of drilling.
High-grade mining opportunity
Harbour View managing director Paul Bennett said: “Another round of excellent results from Harbour View demonstrating high-grade and continuity along the key structures.
“The copper and silver grades are also encouraging with copper up to 7% in one of the holes.
“The consistency of the results demonstrates the team has a very good handle on the mineralisation and we can be confident further drilling will continue to extend it.
“The results are set to have a significant positive impact on the resource and further illustrates that Harbour View represents a high-grade mining opportunity that remains open both at depth and along strike.”
Drill results
Drilling has specifically targeted two high-grade plunges within the Harbour View shear; northeast dipping host andesitic agglomerates and; southwest dipping Felsic Porphyry units that plunge shallowly to the southwest.
At Harbour View North, a total of five RC holes down-dip of RC21KP1057 were completed.
One diamond hole (DD21KP965) is pending assay.
Drilling has delineated a southeast plunge extending from RC21KP1057 with highlights:
➢ 12 metres at 4.27 g/t gold, 0.04% copper and 0.25 g/t silver from 0 metres, including 4 metres at 10 g/t gold, 0.08% copper and 0.25 g/t silver from 0 metres;
➢ 3 metres at 4.2 g/t gold, 0.88% copper and 4.6 g/t silver from 158 metres;
➢ 7 metres at 7.6 g/t gold, 0.13% copper and 1.6 g/t silver from 204 metres, including 1-metre at 37.8 g/t gold, 0.28% copper and 2.8 g/t silver from 207 metres;
➢ 4 metres at 3.4 g/t gold, 1.34% copper and 9.63 g/t silver from 166 metres, including 1-metre at 9.3 g/t gold, 3.47% copper and 25 g/t silver from 168 metres; and
➢ 2.8 metres at 3.05 g/t gold, 0.13% copper and 0.7 g/t silver from 321 metres, including 0.45 metres at 11.6 g/t gold, 0.04% copper and 0.86 g/t silver from 321.55 metres.
Four diamond and three RC holes were drilled at Harbour View South (HVS) and the May cross lodes targeting the south-dipping high-grade plunges. Significant intercepts from the drilling include:
➢ 1-metre at 23.2 g/t gold, 7.14% copper and 93.6 g/t silver from 193 metres – HVS;
➢ 1-metre at 11.9 g/t gold, 0.56% copper and 5.7 g/t silver from 252 metres – HVS;
➢ 2 metres at 9.68 g/t gold, 0.23% copper and 1.55 g/t silver from 35 metres – May;
➢ 18 metres at 1.56 g/t gold, 0.87% copper and 8.54 g/t silver from 240 metres, including 4 metres at 4.56 g/t gold, 3.68% copper and 34.93 g/t silver from 240 metres - HVS;
➢ 6 metres at 1.07 g/t gold, 0.08% copper and 0.25 g/t silver from 30 metres – May; and
➢ 5 metres at 3.16 g/t gold, 0.84% copper and 5.3 g/t silver from 41 metres – May.
Exploration program update
Medallion completed about 29,000 metres of RC and DDH drilling at RGP throughout 2021. There are three drill rigs - one RC and two DDH – currently deployed at RGP.
An RC and DDH rig are active at the Meridian prospect, with the second DDH rig at Harbour View South targeting extensions to the high-grade plunges.
Medallion plans to drill around 16,000 metres of combined RC and DDH drilling at RGP in the first half of 2022.
A total of 165 holes from the 208 holes completed during 2021-22 have had assays reported, representing around 24,860 metres of drilling.
A global MRE update is underway and results are expected to be announced early in the June quarter of 2022, subject to laboratory assay turnaround times.
This update will incorporate about 30,000 metres of new drilling data.