METALICITY Limited’s (ASX: MCT) latest drilling program has confirmed mineralisation extensions at the Kookynie project in WA’s eastern goldfields.
The three holes at Leipold, McTavish and Champion bring the total brownfields exploration project to nine holes, with Metalicity indicating that a “significant” mineralisation exists beyond the historical data.
The company said it would continue with “a staged, systematic drill program designed to not only address gold grade and geology relationships to a level to support a mineral resource estimate, but metallurgy, geotechnical and density aspects to aid in potential feasibility studies at a later date”.
The Kookynie project includes six prospects, with Leipold, McTavish and Champion targeted for this program.
Drilling at Leipold yielded 9m at 7.31g/5t gold from 34m; 3m at 7.91 g/t gold; and 4m at 10.4g/t gold from 39m.
Metalicity said that, due to the “very shallow nature of these results”, open pit mining was an option.
McTavish yielded 3m at 1.14 g/t gold from 73m; and at Champion 1m at 1.35 g/t gold from 127m.
Metalicity managing director Jason Livingstone said that each hole successfully extended the known mineralisation.
“The intercept at Leipold illustrates the high-grade nature that is possible within these structures,” he said.
“I am very excited to see the completion of the current rights issue on offer and continue to develop the Kookynie gold project.”
The company said that “every hole to date has intersected the mineralised structure” since it first announced mineralisation on June 31.
