en.Wedoany.com Reported - Medallion Metals has confirmed a significant new sulfide vein location outside the current mineral resource at its Ravensthorpe Gold Project in Western Australia through extensional drilling.

The discovery is located at the Kundip Mining Center within the Ravensthorpe Gold Project. Extensional drilling has confirmed a high-grade gold-copper vein in the footwall of the Gem deposit, named Hillsborough Deeps.

Significant intercepts from the drilling results include 13.5 meters at 3.3 g/t gold, 5.1% copper, and 26.0 g/t silver (7.7 g/t gold equivalent) from 379.9 meters depth.

Another intercept of 11.7 meters at 3.5 g/t gold, 2.2% copper, and 8.2 g/t silver (5.3 g/t gold equivalent) from 440 meters depth includes a high-grade section of 4.7 meters at 7.2 g/t gold, 3.9% copper, and 14.4 g/t silver (10.5 g/t gold equivalent) from 446.9 meters depth.

These intercepts lie within a broader sulfide mineralized zone spanning 78.6 meters starting from 373 meters downhole.

Managing Director Paul Bennett said the results strengthen the geological basis for a significant new vein system beneath the Gem deposit. Bennett stated: "These results reinforce our interpretation of Hillsborough Deeps as an important new vein position beneath the Gem deposit, and importantly, it lies outside the current mineral resource and close to planned underground development areas. The vein remains open at depth and along strike, further demonstrating that the mineralized system extends beyond current drilling."

Hillsborough Deeps is interpreted as a continuation of mineralization first encountered in drill hole DD24KP1232, which returned 7.7 meters at 5.9 g/t gold, 3.4% copper, and 22.2 g/t silver (11.7 g/t gold equivalent) from 350.5 meters depth.

Structural observations indicate the new vein trends northeast and dips northwest, broadly parallel to the Harbour View vein. Downhole electromagnetic (DHEM) surveys completed by Southern Geoscience Consultants in ten drill holes at Kundip in May 2026 identified several highly conductive off-hole targets, suggesting Hillsborough Deeps and Harbour View remain open along strike and at depth, with the deepest DHEM target located approximately 600 meters below surface.

Bennett said the entire Ravensthorpe system continues to demonstrate its potential. He added: "While our understanding of the new vein position is still in its early stages, these results reinforce our belief that Ravensthorpe has the potential to host additional high-grade mineralization beyond existing resources and mine plans. The combination of drilling and geophysics has improved our understanding of the deep system, which will aid in targeting future drilling."

Medallion still has approximately 8,500 meters of assay results pending from the Kundip Mining Center, with follow-up drilling planned for the DHEM targets at Hillsborough Deeps and Harbour View in the second half of 2026. Trenching and stripping work at Kundip is scheduled to begin in August 2026.

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