The company reported selected Gem intercepts including 3m at 17.8 g/t gold and 0.3% copper from 66m, 2m at 21.3 g/t gold and 0.8% copper from 58m, and 4m at 6.6 g/t gold and 0.7% copper from 252m.
Medallion said the drilling broadly confirmed its existing geological and lode interpretations. It said the results increased confidence in the grade, width and geometry of mineralisation in areas scheduled for early mining.
The company said Ravensthorpe development remained on schedule and within budget, with bulk earthworks advanced and box-cut excavation 55% complete. Underground development was expected to start in November 2026, with first underground ore scheduled for Q2 2027.
The announcement stated that significant intersections had not been independently verified, and that reported mineralised intervals were approximate rather than true widths.
Source: Download MM8 official ASX announcement, 2026-11-02.
Photograph from Medallion Metals' ASX announcement dated 2 November 2026, captioned as bulk earthworks at the Ravensthorpe Gold Project.