お知らせ • Jun 02
Medallion Metals Limited Reports Results from Drilling At Gift and Gem Restored Prospects, Located At the Northern End of KMC Within the Greater Ravensthorpe Gold Project (RGP)
Medallion Metals Limited reported results from drilling at Gift and Gem Restored prospects, located at the northern end of KMC within the greater Ravensthorpe Gold Project (RGP). KMC hosts the Company's current MRE of 674,000 oz 1 @ 2.4g/t Au. The Gift structure is situated 600m northwest of the Gem deposit and strikes north-northeast for ~2km along the boundary of the KMC granted mining leases, in a parallel orientation to the Harbour View deposit. At the southern end of Gift, historical drilling in 2011 targeting bedrock mineralisation identified gold hosted within a quartz gravel and clay paleochannel horizon, situated 4-6m beneath Quaternary alluvial ironstone gravels. The alluvial sediments overly andesitic to dacitic volcanics of the Annabelle Volcanics and the paleochannel is interpreted to be situated on top of a mineralised bedrock structure. To date, no bedrock drilling has been completed at the southern end of Gift beneath the paleochannel. Best intercepts from the 2011 drilling include; 3m @ 4.19 g/t Au from 8m in TTR1023; 2m @ 3.5 g/t Au from 7m in TTR1066; 4m @ 3.07 g/t Au from 4m in TTR1087; 2m @ 2.83 g/t Au from 4m in TTR1105; 3m @ 5.07 g/t Au from 5m in TTR1111; 4m @ 2.56 g/t Au from 2m in TTR1113.To the northeast, the projected paleochannel horizon continues beneath Proterozoic sands unconformably overlying the Annabelle Volcanics with up to 40m of cover, before re-emerging at the northern end of Gift where there are numerous historical workings. The paleochannel remains at the same elevation beneath the Proterozoic units indicating that it either preceded deposition of the Proterozoic units, or that gold mineralisation has been remobilised along the horizon through groundwater percolation, or a combination of both. At the northern end of Gift, mineralisation observed within historical shafts is characteristic of KMC deposits and is hosted in sub-vertical, parallel sulphide-quartz veins within a chloritic altered shear zone. The lodes strike north-northeast at ~33° and dip steeply (~60-80°) to the east. Historical RAB and RC drilling in this area was completed over approximately 350m of strike on a 40m x 40m grid to a depth of ~80m with the best results including; 13m @ 1.79 g/t Au, 0.08 % Cu, 2 g/t Ag from 26m (TTR668 - RAB); 4m @ 9.32 g/t Au, 0.01 % Cu, 5.25 g/t Ag from 26m (TTR669 RAB) including 1m @ 34.4 g/t Au, 0.03 % Cu, 15 g/t Ag from 29m; 3m @ 5.06 g/t Au, 0.31 % Cu, 0.46 g/t Ag from 24m (15NGRC001 RC); 6m @ 3.34 g/t Au, 0.60 % Cu, 0.75 g/t Ag from 31m (RC09KP533 RC); 4m @ 5.06 g/t Au, 2.45 % Cu, 11.75 g/t Ag from 66m (RC09KP538 RC) including 1m @ 10.3 g/t Au, 1.86 % Cu, 10 g/t Ag from 69m; 3m @ 4.49 g/t Au, 1.42 % Cu, 13.0 g/t Ag from 73m (RC09KP599 RC) including 1m @ 10.3 g/t Au, 2.66 % Cu, 25 g/t Ag from 74m; A total of 11 RC holes for 1,490m were completed throughout 2021-22 at the northern end of Gift. The objective of the drilling was to investigate down-dip extensions to historical workings/drilling, down-plunge of interpreted high-grade trend and extensions to the south where the interpreted paleochannel emerges from beneath the Proterozoic cover. All drill holes intersected gold and copper mineralisation, with multiple zones encountered in each hole including; 2m @ 2.03 g/t Au, 0.05 % Cu, 0.25 g/t Ag from 39m (RC21KP1007); 1m @ 4.66 g/t Au, 0.19% Cu, 8.7 g/t Ag from 59m (RC21KP1007); 1m @ 1.4 g/t Au, 0.15 % Cu, 1.6 g/t Ag from 93m (RC21KP1008); 1m @ 5.42 g/t Au, 0.05 % Cu, 0.25 g/t Ag from 50m (RC21KP1012); 1m @ 0.52 g/t Au, 1.22 % Cu, 7.99 g/t Ag from 113m (RC21KP1012); 2m @ 1.23 g/t Au, 0.06 % Cu, 0.25 g/t Ag from 50m (RC21KP1013); 6m @ 1.49 g/t Au, 0.01 % Cu, 0.33 g/t Ag from 32m (RC21KP1014); 2m @ 7.89 g/t Au, 0.19% Cu, 0.35 g/t Ag from 44m (RC21KP1020) including 1m @ 14.4 g/t Au, 0.28 % Cu, 0.25 g/t Ag from 44m;1m @ 2.17 g/t Au, 0.07 % Cu, 1.4 g/t Ag from 51m (RC21KP1021); 1m @ 1.25 g/t Au, 0.23 % Cu, 2.3 g/t Ag from 80m (RC21KP1022); 4m @ 1.35 g/t Au, 0.03 % Cu, 0.25 g/t Ag from 36m (RC21KP1076). The multiple zones of mineralisation encountered in drilling south of RC21KP1011 is currently interpreted to represent the presence of both the paleochannel beneath cover and the bedrock Gift structure. Drilling to the north has intersected what is interpreted as both the Gift structure and associated parallel lodes. Down Hole Electro-Magnetic (DHEM) was completed on several holes with modelled results due in June 2022. Follow up diamond drilling is being planned that will attempt to resolve the orientation of bedrock mineralisation and determine the lateral extents of the paleochannel in the northern Gift area. Assay results for a total of eight holes are reported from the Gem Restored prospect. Refer to Annexure 2 for further details. The holes are located predominantly at the northern end of the prospect. All drill holes intersected low level gold anomalism on the Gem Restored modelled position. The structure remains open at depth and along strike to the northwest. The results will be included in the upcoming MRE update.Medallion has completed over 46,000m of combined RC and DDH drilling at RGP since listing on the ASX in March 2021. Of that, 40,696m was carried out at KMC (23,138m of RC and 17,558m of DDH) with the remainder completed at the Company's highly prospective regional targets. Of the 211 holes drilled at KMC, results have now been reported for 156, representing 27,652m of the drilling completed. Results from the remaining 13,044m of drilling will be reported over coming weeks. Drilling recently concluded and there are currently no drill rigs deployed at the Company's projects. Rehabilitation of drill pads has commenced. A full review of the data gathered during the 2021 and 2022 drill programmes is now underway. Work programmes include structural mapping and analysis, processing and interpretation of DHEM surveys and ground based Sub-Audio Magnetic (SAM) surveys completed during the drilling at RGP. These various work streams will form the basis for planning future drill programmes. An MRE update premised on approximately 26,000m of new drilling is significantly advanced and will be released in mid-June 2022. The MRE update will comprise a maiden estimate of Gem Restored in addition to updates at Gem, Harbour View and Flag. In addition to gold, copper and silver will be reported for the first time at all deposits. The Flag update will add copper and silver to the existing estimate but will not include any new drill data. Flag and other deposits will be updated again during 2022 when all the results from the subsequent drilling of approximately 20,000m are in hand.