THE DRILL SERGEANT: Metalicity Limited (ASX: MCT) completed the initial phase of a larger, planned drilling program at the company’s Kookynie gold project, located south Leonora in Western Australia.
Metalicty carried out the program of reverse circulation (RC) drilling at Kookynie to confirm zones of known mineralisation.
The latest program consisted of three holes in total, conducting one at each of the Champion, McTavish and Leipold targets for 270 metres of RC drilling.
The company had completed drilling in June and July this year that supported its interpretation of the controls of mineralisation.
The subsequent drilling on the Champion, Leipold and McTavish prospects was designed to also test mineralised cross cutting (east-west) structures that control the main north-south mineralised trends that host the historical workings and historical drill hole intercepts.
Metalicity indicated it expects results from this drilling program to be available at the end of September 2019.
“We are pleased to have completed this initial phase of drilling ahead of our larger, planned drilling campaign for the Kookynie project of which the current rights issue is designed to fund,” Metalicity managing director Jason Livingstone said in the company’s announcement to the Australian Securities Exchange.
“Money from the placement was used for this program and is an integral step as part of our methodical approach to exploration and development.
“I look forward to presenting the results from this drilling in due course and performing a larger, more comprehensive drilling program after the conclusion of the rights issue.”