Medallion Metals' Validation of Historical Drilling at Western Australia Gold Deposit Shows High-Grade Intersections; Shares Up 5%
MT Newswires Live
Jun 03
Medallion Metals (ASX:MM8) said the ongoing extraction and validation of previously unreleased historical drilling at the Lounge Lizard gold deposit, within the Forrestania gold project in Western Australia, resulted in high-grade intersections, according to a Wednesday Australian bourse filing.
The company said 212 historical drill holes surrounding the Lounge Lizard open pit were validated and incorporated into the geological database for mineral resource estimation.
It encountered intersections of 11 meters at 6.9 grams per tonne (g/t) grade of gold from 50 meters, 9 meters at 8.7 g/t grade of gold from 67 meters, 5 meters at 10.2 g/t grade of gold from 98 meters.
The company's shares jumped 5% in recent Wednesday trade.
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