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Medallion Metals Launches Airborne Electromagnetic Survey at Western Australia Gold Project; Shares Gain 4%

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Medallion Metals (ASX:MM8) launched an airborne electromagnetic survey across its Ravensthorpe gold project in Western Australia to identify new gold and copper sulfide targets, according to a Monday filing with the Australian bourse.

The survey will cover an area of about 120 square kilometers and is co-funded through a AU$135,000 grant awarded under the Western Australian government's exploration incentive scheme, per the filing.

The company said it aims to generate priority exploration targets by the fourth quarter.

Its shares gained 4% in recent Monday trade.

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