THE DRILL SERGEANT: Metalicity (ASX: MCT) announced intercepts from its September drilling program, claiming they confirm mineralisation extensions past previously developed and drilled areas at the company’s Kookynie project in the Eastern Goldfields of Western Australia.
Metalicity completed a three-hole follow up program that it said reaffirms the excellent exploration potential of the Kookynie gold project.
9 metres at 7.31 grams per tonne gold from 34m, including 3m at 7.91g/t gold from 34m; and
4m at 10.4g/t gold from 39m, including 1m returning 31.2g/t gold from 40m.
3m at 1.41g/t gold from 73m; and
1m at 1.35g/t gold from 127m.
According to Metalicity, all holes returned structural continuation of mineralisation and noteworthy intersections.
“While the short program encompassed three drill holes, each was successful in again extending the known mineralisation,” Metalicity managing director Jason Livingstone said in the company’s announcement to the Australian Securities Exchange.
“The intercept at Leipold illustrates the high-grade nature that is possible within these structures.
“I am very excited to see the completion of the current rights issue on offer and continue to develop the Kookynie gold project, which represents a significant opportunity for Metalicity.”
The Kookynie project is host to six prospects: Champion, McTavish, Leipold, Diamantina, Cosmopolitan and Cumberland.