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- Metalicity (MCT) is set to begin diamond drilling at the Kookynie Gold Project later this week or early next week
- The diamond drilling will follow on from the recently completed reverse circulation drilling that followed up on bonanza gold grades
- Results from the reverse circulation drilling are expected in November
- The diamond drilling will provide the information required to enable a mineral resource estimate at the Leipold, McTavish and Champion prospects
- Metalicity is steady on the market with shares trading at one cent at 3:03 pm AEST
Metalicity (MCT) is set to begin diamond drilling at the Kookynie Gold Project later this week or early next week.
The Kookynie Project lies roughly 180 kilometres north of Kalgoorlie and 50 kilometres south of Leonora in Western Australia.
The diamond drilling will follow on from the recently completed reverse circulation (RC) drilling program at the McTavish, Leipold and Champion prospects.
This RC drilling followed up on the bonanza gold grades intersected at McTavish which includes one metre at 91.2 grams of gold per tonne (g/t) from 30 metres at one metre at 52.8g/t gold from 89 metres.
Results are expected by November.
This upcoming diamond drilling will provide the information required to enable a mineral resource estimate to be finalised at the Leipold, McTavish and Champion prospects.
CEO Justin Barton is pleased RC drilling is completed and is excited to begin diamond drilling.
“I am very pleased that we have completed the RC component of this program. The RC drilling follows up the excellent bonanza intersections we announced in July where we are testing further extensions to high grade mineralisation recently intersected,” Mr Barton commented.
“With the second phase of diamond core drilling about to commence, we are pleased with our visual observations in the RC drilling and look forward to presenting those results as soon as they are ready in the coming months.
“The diamond core component is key for us to finalise the mineral resource estimate, so moving on to this component quickly is a pivotal step in the development of Kookynie.”
Metalicity was steady on the market with shares trading at one cent at 12:58 pm AEST.
