Medallion Metals Confirms Growth Potential at Western Australia Deposit; Shares Up 8%

MT Newswires Live

07/27

Medallion Metals (ASX:MM8) confirmed the growth potential of the Gem deposit at depth and boosted confidence in the early mine plan at the Kundip Mining Center, part of the Ravensthorpe project in Western Australia, according to a Monday filing with the Australian bourse.

Drilling returned 4.92 meters at 15.5 grams per tonne (g/t) grade of gold, 0.9% copper from 394.09 meters, including 0.3 meters at 204 g/t grade of gold, 7% copper from 395.09 meters, the filing said.

Assays from roughly 5,000 meters of drilling are expected to be reported over the coming weeks, per the filing.

Shares rose 8% in midday trade Monday.

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