- Metalicity (MCT) sees new gold assays extend mineralisation to one kilometre at the Leipold Prospect at the Kookynie Gold Project in WA
- Final assays from recent drilling at Leipold showed 17 out of 22 holes returned mineralised intercepts, with mineraliation defined over nearly one kilometre to a vertical depth of 130 metres
- Since restarting drilling at the Kookynie Gold Project in February, MCT has completed a total of 102 drill holes for a total of 12,538 metres
- Once all results are received Metalicity says it intends to release its maiden resource estimate for the Leipold, McTavish and Champion Prospects
- Metalicity last traded at 1 cent on July 1
Metalicity (MCT) has seen new gold assays extend the mineralisation at the Leipold Prospect at the Kookynie Gold Project in the Eastern Goldfields of WA.
The Kookynie Gold Project is located around 60 kilometres southeast from Leonora, hosting nine prospects.
Final assays from recent drilling at Leipold have now been received, with 17 out of 22 holes returning mineralised intercepts. Significant results include 2 metres at 4.7 g/t from 65 metres, including 1 metre at 8.4 g/t from 66 metres.
The mineralisation at the prospect has also been extended a further 200 metres, which is now defined over nearly one kilometre to a vertical depth of 130 metres. The prospect remains open along strike to the north and at depth.
The further two kilometres of strike between the Leipold and McTavish prospects remains open. The company says it is believed to be prospective for defining similar high-grade lodes along strike.
Since restarting drilling at the Kookynie Gold Project in February, the company has completed a total of 102 drill holes for a total of 12,538 metres.
A further 58 holes results are still pending from the McTavish, Champion and Cosmopolitan prospects, which the company credits to a significant backlog from previous drilling.
“These results demonstrate a consistent mineralised zone which bodes incredibly well for the impending resource estimate,” Metalicity CEO, Justin Barton said.
“We have nearly a kilometre of strike defined at Leipold and have not defined the down dip limit yet.”
Once all results are received and reported, Metalicity says it intends to release its maiden resource estimate for the Leipold, McTavish and Champion Prospects, which are all situated on mining leases.
“The initial Resource Estimate that will be published in the coming months is just the beginning for Leipold, McTavish or Champion, as all the prospects are open in one direction or more,” Justin Barton continued.
Metalicity last traded at 1 cent on July 1, 2021.