- Metalicity (MCT) has received results from a recently completed drone magnetic geophysical survey at the DCC and Altona trends at the Kookynie Gold Project
- The purpose of this survey was to outline lithological and structural information of Kookynie to develop targets along the eight-kilometre strike length
- Results have indicated that 21 targets have a similar geophysical and structural setting to already known mineralised areas such as the McTavish and Leipold prospects
- Additionally, work is still being carried out and there are currently 24 drill holes in the laboratory awaiting analysis with results expected in the near term
- Metalicity is up 3.70 per cent on the market this morning and shares are trading for 2.8 cents each
Metalicity (MCT) has received results from a recently completed drone magnetic geophysical survey at the DCC and Altona trends.
Both of these trends lie within the Kookynie Gold Project which is situated in the Eastern Goldfields in Western Australia, roughly 60 kilometres southwest of Leonora.
The DCC Trend consists of the Champion, McTavish, Leipold, Diamantina, Cosmopolitan and Cumberland prospects.
The purpose of this survey was to outline lithological and structural information of Kookynie to develop targets along the eight-kilometre strike length.
Results from this drone survey have indicated that 21 targets have a similar geophysical and structural setting to already known mineralised areas such as the McTavish and Leipold prospects.
Further, McTavish and Leipold have returned results of five metres at 17.9g/t gold from 48 metres including one metre at 80.17g/t gold from 51 metres, and 10 metres at 7.44g/t gold from 108 metres including two metres at 21.03g/t gold from 111 metres respectively.
Additionally, work is still being carried out and there are currently 24 drill holes in the laboratory awaiting analysis with results expected in the near term.
“The footprint of the Kookynie Gold project continues to grow with a further 21 targets across the granted tenure being generated from this exercise,” Managing Director Jason Livingstone said.
“This is a fantastic result and confirms our interpretation of the area, let alone the incredible prospectivity,” he added.
Once results from the survey and reverse circulation drilling have been received, Metalicity will use them to plan further work at these targets to help evaluate the Champion prospect and Cosmopolitan Gold Mine.
Metalicity is up 3.70 per cent on the market this morning and shares are trading for 2.8 cents each at 10:28 am AEST.