Medallion Resources Ltd has announced the completion of a successful fall field exploration program at the Romaine Iron-Titanium Project. Sample and data production nearly doubled the program’s expectations. Geological mapping indicates that the iron-titanium-mineralized outcrops continue along strike for more than 3km, a significant distance beyond the north end of the previously known main area of mineralization. Medallion’s due diligence is nearing completion. The fall program goals are to conduct legal and technical due diligence, to construct a detailed geological map, to confirm the surface extent of the iron-titanium mineralization, and to collect samples for assay and metallurgical tests. The fall program results, along with an analysis of historical drilling and sampling, will be compiled into an NI43-101-compliant technical report, which is required to obtain regulatory approval of Medallion’s acquisition of the Option. The technical report will recommend drill targets and a work program for an NI43-101-compliant resource estimate.
