Medallion Metals Identifies High-Grade Gold at Western Australia Project

MT Newswires Live

07/08

Medallion Metals (ASX:MM8) said it identified high-grade gold mineralization during recent drilling at its recently acquired Forrestania Gold Project's Teddy Bear Gold Deposit in Western Australia, according to a Wednesday Australian bourse filing.

The results were up to 18 meters at 3.64 grams per tonne gold from 57 meters, including three meters at 10.23 g/t gold from 64 meters.

The company said Teddy Bear has been confirmed as a second advanced gold opportunity within the Forrestania Gold Project, located 64 kilometers north of the Cosmic Boy Concentrator, with broad, shallow gold mineralization defined over about 500 meters of strike within and around the historical Teddy Bear open pit.

Further drilling is planned to support resource evaluation and test extensions to mineralization, it added.

The company's shares rose 3% on market close.

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