Extensional drilling by Medallion Metals at the Ravensthorpe gold project has confirmed a significant new sulphide lode position outside the current mineral resource.
The company reported the discovery at its Kundip Mining Centre in Western Australia – part of the Ravensthorpe gold project – with extensional drilling confirming the presence of a high-grade gold-copper lode in the footwall of the Gem deposit, a position it called Hillsborough Deeps.
Results returned standout intercepts including 13.5 metres at 3.3 grams per tonne (g/t) gold, 5.1 per cent copper and 26.0g/t silver (7.7g/t gold equivalent) from 379.9 metres.
There were also intercepts of 11.7 metres at 3.5g/t gold, 2.2 per cent copper and 8.2g/t silver (5.3g/t gold equivalent) from 440 metres — with a higher-grade internal hit of 4.7 metres at 7.2g/t gold, 3.9 per cent copper and 14.4g/t Ag (10.5g/t gold equivalent) from 446.9 metres.
The significant intercepts sit within a broader sulphide mineralisation zone spanning 78.6 metres from 373 metres downhole.
Managing director Paul Bennett said the results strengthen the company’s geological case for a meaningful new lode beneath the Gem deposit.
“These outstanding results strengthen our interpretation of Hillsborough Deeps as a significant new lode position beneath the Gem deposit and, importantly, outside the current mineral resource and close to planned underground development,” he said.
“The lode is open at depth and along strike, providing further evidence that the mineralised system continues beyond the limits of current drilling.”
Hillsborough Deeps is interpreted as a continuation of mineralisation first intersected in hole DD24KP1232, which returned 7.7 metres at 5.9g/t gold, 3.4 per cent copper and 22.2g/t silver (11.7g/t gold equivalent) from 350.5 metres.
Medallion said that structural observations indicate the new lode trends northeast and dips northwest, broadly parallel to the Harbour View lodes.
Downhole electromagnetic (DHEM) surveying completed in May 2026 by Southern Geoscience Consultants across ten drillholes at Kundip identified several highly conductive off-hole targets, indicating both Hillsborough Deeps and Harbour View remain open along strike and at depth, with the deepest DHEM target sitting approximately 600 metres below surface.
Bennett said the broader Ravensthorpe system continues to reveal its potential.
“While still early in our understanding of the new lode position, the results reinforce our belief that Ravensthorpe has the potential to host additional high-grade mineralisation beyond the current resource and mine plan,” he said.
“The combination of drilling and geophysics has improved our understanding of the system at depth, which will assist drill targeting.”
Medallion has approximately 8500 metres of assay results still pending from the Kundip Mining Centre, with follow-up drilling of DHEM targets at both Hillsborough Deeps and Harbour View planned for the second half of 2026.
Box cut clearing and excavation at Kundip is targeted to commence in August 2026.
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