Join our daily newsletter At The Bell to receive exclusive market insights
- Metalicity (MCT) receives aircore drill results from the McTavish South prospect within its Kookynie gold project in WA
- Results include four metres at 2.57 g/t gold from 64 metres and eight metres at 2.61 g/t gold from 28 metres
- The company said the results have extended gold mineralisation by over 400 metres along the north-south McTavish trend which remains open
- Further assays are pending and drilling data will be used to support follow-up programs
- Company shares are trading steady at 0.3 cents at 3:49 pm AEST
Metalicity (MCT) has announced gold results from the McTavish South prospect which is part of the Kookynie gold project in Western Australia’s Eastern Goldfields region.
The McTavish South Prospect is considered an “exciting” new target which lies just 50 metres south of the McTavish Resource.
Earlier this year, Metalicity undertook a 31-hole aircore drilling program at McTavish South to target extensions to known mineralisation as well as an interpreted regional structure.
Results successfully identified a gold mineralised zone of over 400 metres within the weathered rock profile along the north-south McTavish structural trend which remains open.
Drill results include four metres at 2.57 grams per tonne (g/t) gold from 64 metres, eight metres at 2.61 g/t gold from 28 metres, and eight metres at 0.92 g/t gold from 20 metres including four metres at 1.35 g/t gold from 20 metres.
CEO Justin Barton said the company is pleased with the initial aircore results which significantly extends its golden footprint at McTavish.
“To get this grade and width at essentially the top of the bedrock is exceptional and shows the mineralisation upside at MacTavish. We are looking forward to further positive news from the McTavish South prospect,” he said.
The company has collected one metre re-split samples from the four metre composite intervals which will be assayed. MCT also collected one-metre end-of-hole samples for multi-element analysis with results pending.
The one-metre resampling will reportedly help identify higher-grade gold mineralised zones within the intersections.
All drilling information will help Metalicity plan a follow-up aircore and/or reverse circulation drilling program.
Company shares were trading steady at 0.3 cents at 3:49 pm AEST.
