MM8.ASX: Second High-Grade Gold Opportunity Emerging at Forrestania

Second High-Grade Gold Opportunity Emerging at Forrestania

Stock	Medallion Metals Ltd (MM8.ASX)
Release Time	8 Jul 2026, 8:31 a.m.
Price Sensitive	Yes

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Medallion Metals Announces High-Grade Gold at Forrestania

Key Points

Second advanced gold opportunity identified at Forrestania
Historical drilling confirms broad, high-grade gold mineralisation
Shallow RC drilling on stockpile supports early production strategy
Further drilling planned to support resource evaluation

Full Summary

Medallion Metals Limited (ASX: MM8) has reported promising results from the Teddy Bear gold prospect within the Forrestania Gold Project (FGP). The evaluation of historical drilling has confirmed broad, high-grade gold mineralisation over approximately 500m of strike, with significant intercepts including 18m @ 3.64g/t Au and 40m @ 1.41g/t Au. Additionally, shallow RC drilling on a historical stockpile adjacent to the Teddy Bear waste dump confirmed an average grade of 0.95g/t Au, supporting the company's early production strategy. The company plans to continue drilling to support resource evaluation and test extensions to the mineralisation. Managing Director Paul Bennett highlighted the potential of the Forrestania Gold Project to contribute to future resource growth and early production opportunities.

Outlook

The Forrestania Gold Project is expected to play an increasingly important role in expanding Medallion's resource base, complementing the Ravensthorpe Gold Project as it advances towards production.