Medallion Metals Confirms High-Grade Historical Gold at Western Australia Deposit; Shares Up 9%

MT Newswires Live

03/11

Medallion Metals (ASX:MM8) confirmed high-grade historical gold drilling at the Lounge Lizard deposit within the Forrestania project in Western Australia, according to a Wednesday filing with the Australian bourse.

The validation of 65 out of 450 historical drill holes indicated high-grade gold mineralization, including 23 meters at 5.85 grams per tonne grade of gold from 13 meters, the filing said.

The company expects to report a maiden mineral resource estimate in the third quarter, per the filing.

Shares rose 9% in afternoon trade on Wednesday.

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