- Metalicity (MCT) has confirmed high-grade, near-surface gold mineralisation at the Leipold prospect which is part of the Kookynie Gold Project
- The Kookynie Gold Project is located within the Eastern Goldfields region of WA
- Metalicity conducted phase two reverse circulation drilling which aimed to step out and continue to confirm previously identified mineralisation
- Latest results have intersected up to 21.03 grams per tonne of gold and 35.23 grams per tonne of gold
- Drilling also extended the Leipold mineralisation footprint to 700 metres
- Assays for 24 holes are pending at the lab, while the last 13 holes were dispatched on August 23
- At market open, company shares are trading 6.90 per cent higher for 3.1 cents
Metalicity (MCT) has received initial assay results from phase two drilling at the Kookynie Gold Project in the Eastern Goldfields region of Western Australia.
Phase two reverse circulation (RC) drilling aimed to step out and continue to confirm the mineralisation that was discovered in earlier drilling programs.
These results come from the first 16 holes, for 1218 metres, which have confirmed significant and extensive high-grade, near-surface gold mineralisation at the Leipold prospect. The mineralisation not only continues to the southern strike extents, but down dip as well.
Latest results have intersected 10 metres at 7.44g/t gold from 108 metres, including two metres at 21.03g/t gold from 111 metres, two metres at 35.23g/t gold from 124 metres, and nine metres at 3.96g/t gold from 35 metres, including two metres at 9.25g/t gold from 42 metres.
“It is apparent that the Leipold mineralisation extends a considerable distance, some 250 metres south, past our previous drilling, and I look forward to receiving the balance of the assays and the results from our current drilling which is underway,” Managing Director Jason Livingstone said.
Importantly two holes drilled are located roughly 250 metres south of LPRC0032 which returned 10 metres at 3.21g/t gold from 26 metres. This has extended the mineralisation footprint significantly to 700 metres at the Leipold prospect.
So far, Metalicity has completed 53 holes, for 3798 metres, at Leipold. A further 24 holes are pending at the lab and the last 13 holes were sent to the lab on August 23.
Company shares are trading 6.90 per cent higher at market open, for 3.1 cents each.