Medallion Metals Gears Up for Feasibility Milestone with ASX200 Relevance

3 min read | May 26, 2025 10:27 AM AEST | By Team Kalkine Media

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Medallion Metals Gears Up for Feasibility Milestone with ASX200 Relevance — Image source: shutterstock

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Highlights

Feasibility Study targeted for December 2025

Strong drilling results at Ravensthorpe Project

Updated resource estimates due mid-2025

Medallion Metals (ASX:MM8) is advancing its flagship Ravensthorpe Gold Project in Western Australia, with a Feasibility Study now firmly in sight. Following a comprehensive 17,000m drilling program at the Kundip Mining Centre (KMC), the company is on track to update mineral resource estimates (MRE) and assess the technical and economic potential of the project.

The recent drilling program, launched in October 2024, was designed to strengthen confidence in the Scoping Study mine plan. At the Gem deposit, infill and extensional drilling at the southwestern end delivered high-grade intercepts, including 7.8m @ 17.4g/t gold, 1.5% copper, and 6.6g/t silver from 218.2m, with a standout section of 2.3m @ 57.5g/t gold, 5% copper, and 20.4g/t silver.

Metallurgical sampling at the Flag and Harbour View deposits also returned positive results, such as 2.3m @ 9.5g/t gold, 0.3% copper, and 4.6g/t silver from 226.6m, and 2.5m @ 6g/t gold, 1.1% copper, and 2.5g/t silver from 102.1m. Assay results from an additional 1,800m of drilling are anticipated in June 2025.

These results will inform an updated MRE for Gem in June, followed by Harbour View in July. Together, they will underpin the forthcoming Feasibility Study, scheduled for completion in December 2025. This study will be pivotal in shaping future development plans for KMC, particularly as Medallion progresses discussions with various financing and offtake partners.

Medallion is also engaged in an exclusivity agreement with IGO (ASX:IGO), relating to the proposed acquisition of the Forrestania Nickel Operation (FNO). The revised agreement would see Medallion acquire full ownership of the assets, including the Cosmic Bay processing plant. The exclusivity period has been extended to August 2025, allowing time for the drafting of definitive agreements and navigating third-party obligations.

Managing Director Paul Bennett noted that the continuity, grade, and thickness observed during the recent drill program contribute significantly to the early stages of the mine plan. He added that promising mineralisation at both Gem and Harbour View offers further scope for resource expansion.

While Medallion Metals is primarily gold-focused, investor interest in the company could also be considered in the broader context of ASX dividend stocks, particularly as development advances and long-term cash flow potential emerges.

The company’s momentum may position it for greater visibility among resource-focused names within the S&P/ASX200, especially as it progresses toward key development milestones.

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