- Metalicity (MCT) has released the remaining results from the phase one drilling program at the Kookynie Gold Project in Western Australia
- The company has now received all results from the program
- Results peaked at 19.42 grammes per tonne gold and have confirmed the high-grade gold mineralisation at the Leipold and McTavish prospect
- Metalicity will now return to these prospects with its joint venture partner Nex Metals (NME) in mid-July to expand the mineralisation
- Metalicity is up 3.33 per cent on the market and shares are trading for 3.1 cents each
Metalicity (MCT) has released the remaining results from the phase one drilling program at the Kookynie Gold Project in Western Australia.
The company has now received all results from the program with them confirming extensive high-grade gold mineralisation at the Leipold and McTavish prospects.
On July 2, Metalicity received results for the first 29 holes of the 44 hole program with results peaking at 4.63g/t gold.
The aim of this drilling was to confirm the mineralisation identified in previous drilling programs.
Leipold prospect
Of the 44 holes drilled, 34 were completed at the Leipold prospect.
Significant results include two metres at 14.11g/t gold from 39 metres including one metre at 19.42g/t gold from 39 metres, and four metres at 5.01g/t gold from 36 metres.
McTavish prospect
The remaining 10 holes were drilled at McTavish.
Significant results include two metres at 8.52g/t gold from 43 metres, eight metres at 4.05g/t gold from 59 metres, and five metres at 2.56g/t gold from 60 metres.
Results from both these programs will be used to form a JORC 2012 mineral resource estimate.
“The results we have returned demonstrate thick, continuous high-grade mineralisation at very shallow depths that is open in all directions,” Managing Director Jason Livingstone commented.
“This program alone returned 32 from 44 drill holes completed, and to date, we have drilled 63 holes in total, we have returned 48 significant intercepts,” he said.
“This illustrates the continuous, consistent and high-grade nature of the Kookynie Gold Project and clearly shows the significant gold endowment,” he added.
Metalicity will now return to these prospects with joint venture partner Nex Metals (NME) in mid-July to expand the mineralisation.
Additionally, the company is hoping to extend Leipold’s current 500-metre strike length to one kilometre, and McTavish’s current 200-metre strike to 500 metres.
Metalicity is up 3.33 per cent on the market and shares are trading for 3.1 cents each at 11:28 am AEST.