Medallion Metals is charging forward with preparations for a full feasibility study at its flagship Ravensthorpe Gold Project in Western Australia, following strong drilling and assay results that are reshaping its near-term development strategy.
The announcement marks a key milestone for the ASX-listed company as it builds momentum at the Kundip Mining Centre, home to several promising deposits, including Harbour View, Flag, and more recently identified copper-silver trends.
As the company wraps up a 17,000m drilling program, early indicators suggest a stronger-than-anticipated mineral resource update may be in the pipeline—one that could substantially de-risk project financing and fast-track construction readiness.
Image 1: Drill rig at Ravensthorpe Gold Project during the 2025 campaign
Source: https://mining.com.au/
Why the Feasibility Study Matters Now
The Medallion Metals Feasibility Study is expected to lay the commercial groundwork for future production, helping the company transition from explorer to near-term developer. With gold prices remaining strong and regional infrastructure already in place, the study could define the scale and scope of mining operations for years to come.
The feasibility process will build upon Medallion’s previous scoping studies, incorporating new geotechnical data, updated metallurgical results, and optimised pit designs based on the 2024–2025 drill campaign.
Management has signalled the study may also evaluate broader economic upside from by-product metals—particularly copper and silver mineralisation observed across multiple prospects.
Drilling Update: 17,000m Program Delivers on Grade and Scale
Medallion’s extensive 17,000m drilling program has focused on both infill and step-out targets, aiming to upgrade current resources and define new zones of mineralisation.
Notable highlights include:
- Harbour View assay results showing high-grade intersections at depth
- Expanded mineralisation envelopes at the Flag deposit, supported by consistent sample grades
- Strong indications of sulphide-hosted copper-silver zones in the southern sections of the Kundip corridor
“We’re seeing continuity across key lodes, which strengthens our confidence in delivering a robust resource model,” said a senior geologist involved in the campaign.
Image 2: Drill core samples showing visible mineralisation from Flag deposit
Source: [ResearchGate]
Kundip Mining Centre: Multi-Deposit Advantage
The Kundip Mining Centre, located near Ravensthorpe, hosts several gold-dominant deposits with polymetallic potential. Its close proximity to existing roads, port access, and power infrastructure makes it an attractive candidate for streamlined development.
The latest exploration activity not only confirms continuity at known deposits but has also hinted at structural extensions that could further boost the economic scale of the project.
If the feasibility study confirms positive operating margins and efficient metallurgical recovery, Medallion could emerge as a key gold producer in the Great Southern region.
Copper and Silver: Hidden Value Drivers
While gold remains the headline commodity, the company’s technical team is placing increased attention on associated copper and silver mineralisation—particularly in zones identified during deeper drilling at Harbour View and adjacent prospects.
These by-product metals may offer financial and strategic benefits, such as:
- Diversifying revenue streams
- Enhancing project economics through polymetallic credits
- Aligning with battery metals demand trends
Medallion’s upcoming feasibility work will likely include metallurgical testing focused on recovery efficiency and processing options for these additional metals.
Image 3: Geological model showing multi-metal zones
Source: [MDPI]
Next Steps and What to Watch
According to company sources, the Medallion Metals Feasibility Study will proceed through several defined phases:
- Resource model update incorporating full assay results
- Metallurgy and pit optimisation based on updated geology
- Environmental baseline studies and stakeholder consultations
- Economic modelling and funding scenarios
The company expects to release its feasibility results in late 2025, pending final lab analysis and permitting updates.
Meanwhile, investors are eyeing any further updates from the ongoing fieldwork that could shape the study’s financial framework—especially in relation to strip ratios, processing costs, and capex sensitivity.
Conclusion: Medallion Moves from Explorer to Developer
With strong exploration momentum, high-grade intercepts, and a strategic project location, Medallion Metals appears well-positioned to transition toward development. The feasibility study at Ravensthorpe is not only a technical milestone but also a market signal that the project is entering a new chapter.
If execution remains on track, Medallion could soon join the ranks of emerging producers ready to capitalise on a bullish gold cycle—while quietly adding value through its overlooked copper and silver upside.
