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Metalicity Confirms Kookynie Mineralisation

THE DRILL SERGEANT: Metalicity (ASX: MCT) announced promising intercepts from an initial drilling program at the company’s Kookynie project in the Eastern Goldfields of Western Australia.

Metalicity said the results had confirmed mineralisation extends past previously developed and drilled areas for the Kookynie project.

The Kookynie project is host to six, prospective prospects; Champion, McTavish, Leipold, Diamantina, Cosmopolitan and Cumberland.

The company reported that drilling had confirmed mineralisation at Champion, McTavish and the DCC (DiamantinaCosmopolitan-Cumberland) Trend.

Cosmopolitan
2 metres at 22.1 grams per tonne gold from 76m;

McTavish
4m at 6.4g/t gold from 67m, including 1m at 15.47g/t gold from 67m;

Cumberland
2m at 1.4g/t gold from 72m; and

Diamantina
mineralised zone over 9m with:
0.72m at 3.1g/t gold from 167m,
0.21m at 8.8g/t gold from 173.07m,
1.15m at 1.5g/t gold from 174.85m.

Channel sampling of the exposed DCC Trend structure in the Cumberland Pit returned: 1.85m at 4.3g/t gold, including 0.68m at 7.1g/t gold.

Four of the six holes completed returned healthy intersections.

Metalicity’s structural model confirmed, large (approximately 2.6 kilometres) strike extents of known mineralisation at DCC plus a further three kilometres at McTavish and Leipold were also identified and are yet to be tested.

The company declared this initial program reaffirms the excellent exploration potential of the Kookynie gold project.

“Our drilling program was designed to test whether the historical drilling has defined the limits of the known mineralisation,” Metalicity managing director Jason Livingstone said in the company’s announcement to the Australian Securities Exchange.

“Having stepped out and targeted the gaps, we have confirmed that mineralisation is present well past the constraints of the previously drilled areas.

“This program has allowed us to reach a substantiated decision point to start planning for a high-grade resource development phase.

“The high hit-ratio of mineralised intercepts for holes drilled is testament to the prospectively of the project.

“With a more substantial drill program, more higher-grade results can be expected.

“This is exceptionally exciting to confirm and extend the mineralisation at the known prospects, our drilling, especially the diamond core drilling, and mapping, has highlighted the significant strike extents of the untested DCC Trend.

“In addition, the parallel structure, the Altona historical workings, has received little to no modern exploration attention whilst having historically produced nearly 90,000 ounces.

“Together with our farm-in partner, Nex Metals Explorations Ltd, we have the opportunity to move quickly into a systematic, resource development phase on the areas of known mineralisation, coupled with testing the strike extents of all the prospects.

“To the north of Cumberland, we have 2.6 kilometres of structure to test, to the south of Diamantina, 1.8 kilometres, let alone the Altona area which hosts 3.7 kilometres of structure.

“To juxtapose this against that the main DCC Trend, where 360,000 ounces has been produced, is hosted in 1.4 kilometres of this structure.

“We have not only confirmed that mineralisation exists and extends in the historical areas, but still have around eight kilometres of the same or similar structure to explore.”

 

Website: www.metalicity.com.au

 

Metalicity Drilling at Kookynie Gold Project

THE DRILL SERGEANT: Metalicity (ASX: MCT) has kicked off drilling at the company’s Kookynie gold project, south of the Western Australia Goldfields town of Leonora.

Metalicity is to carry out a program of reverse circulation (RC) and diamond drilling (DD) at Kookynie to confirm and extend zones of known mineralisation.

The program is to consist of approximately six holes in total (four planned into the DCC Trend, one planned into the McTavish prospect, and a final hole into the Champion prospect) for approximately 600 metres of RC and 600 metres of DD.

Metalicity recently completed mapping of the targeted area that it said supports the company’s interpretation of the controls of mineralisation.

The drilling on the DCC Trend is designed to also test mineralised cross cutting (east-west) structures that control the main north-south mineralised trends that host the Diamantina, Cosmopolitan and Cumberland historical workings.

The Company expects initial results from this drilling program to be available during July.

“We are very pleased to be undertaking the initial drilling program at Kookynie,” Metalicity CEO Mat Longworth said in the company’s announcement to the Australian Securities Exchange.

“We look forward to the results which will determine the direction of future drill programs to advance the understanding and confidence in the potential mineral resources.”

 

Website: www.metalicity.com.au

 

Metalicity Calculates Kookynie Exploration Target

THE DRILL SERGEANT: Metalicity (ASX: MCT) has calculated a JORC 2012 Code-compliant Exploration Target for the company’s Kookynie project in the Eastern Goldfields of Western Australia.

Although conceptual in nature, Metalicity explained the Exploration Target had been estimated in accordance with JORC 2012 guidelines utilising data from historical work, including the review of pre-JORC 2012 mineral resource estimates, historical production and drilling results.

“The Kookynie gold project presents an opportunity to define high quality ounces in a short period of time,” Metalicity CEO Mat Longworth said in the company’s announcement to the Australian Securities Exchange.

“Having access to a wealth of historical work including mineral resource estimates, historical production and drilling results has greatly assisted Metalicity to quickly estimate an Exploration Target of between 230,000 ounces and 510,000 ounces.

“We are also buoyed by the fact that all Prospects at Kookynie are open along strike and down dip which bodes well for MCT to define and extend resources with our upcoming drilling campaign.

“We are excited to be progressing with this project and look forward to delivering further exciting news flow in the near term.”

The Kookynie project consists sixsignificant prospects; Champion, McTavish, Leipold, Diamantina, Cosmopolitan and Cumberland.

Metalicity has assessed each of these when preparing the Exploration Target based on an in-depth review of existing data of historical production and exploration.

At Cosmopolitan, the mineralisation is believed to be some 150 metres to 200m down dip from historic workings with no mineralisation assumed within the area of historic workings.

The upper end grade is estimated to be the historic mined grade.

At Diamantina and Cumberland, mineralisation is thought to be around 250m to 350m down dip and 500m along strike.

The maximum grade is assumed to be the historically mined grade of Cosmopolitan as the Diamantina and Cumberland are strike continuations of that mineralisation.

At Champion, McTavish and Leipold, the mineralisation is considered between 100m to 120m down dip and along strike.

The upper grade is assumed to be between 4 grams per tonne gold and 6g/t gold based on averages of drill hole intersections within the structures hosting mineralisation.

Metalicity indicated its first phase of exploration at Kookynie will focus on defining and extending known mineralisation rather than early stage exploration to find prospects as the company believes stating Exploration Targets in accordance with JORC 2012 guidelines will provide the market an insight on what exploration at Kookynie may produce.

The company’s intention is to scope out the extents of the mineralisation then define mineralisation quality at these prospects prior to conducting formal resource estimates.

 

Website: www.metalicity.com.au