Medallion Metals (ASX:MM8) is progressing towards a Feasibility Study for its Ravensthorpe Gold Project in Western Australia, spurred by a 17,000m drilling program at the Kundip Mining Centre (KMC). The drilling program, initiated in October 2024, aimed to bolster confidence in the project’s Scoping Study mine plan. Infill and extensional drilling at the Gem deposit within Kundip yielded promising results, including intercepts of 7.8m @ 17.4 grams per tonne gold, 1.5% copper, and 6.6g/t silver. Metallurgical sampling from drillholes at Flag and Harbour View also showed positive outcomes.
Assay results for approximately 1,800m of drilling are anticipated in June, with an updated mineral resource estimate (MRE) for Gem expected in June 2025. An updated MRE for Harbour View is projected for July, following the receipt of pending assay results. These updated MREs will form the foundation of the Feasibility Study, assessing the technical and commercial viability of mining KMC mineralisation with processing at FNO. Medallion is also in ongoing exclusive negotiations with IGO (ASX:IGO) to acquire the Forrestania Nickel Operation, with the exclusivity period extended to August 2025 to finalise binding documents. The Feasibility Study is scheduled for completion in December 2025, with the company also actively engaging with potential offtake and financing partners.
