Market Herald logo


Be the first with the news that moves the market
  • Metalicity (MCT) has strategically applied for an additional 4200-hectare tenement near the prolific Kookynie-Ulysses Trend in the Eastern Goldfields of WA
  • The company applied for the land package with its farm-in partner, Nex Metals Exploration (NME)
  • The area is prospective for gold, however, has only been subject to shallow and broad historic drilling
  • Metalicity is eager to use modern exploration methods if its application is approved
  • Additionally, assays from a recently completed phase one drilling program are expected shortly
  • Company shares are up 16.7 per cent and are trading for 1.4 cents each

Metalicity (MCT) has applied for the E40/395 tenement, which is three kilometres east of the historic Ulysses Mining Camp in the Eastern Goldfields of WA.

The company applied for the 4200-hectare land package with its farm-in partner, Nex Metals Exploration (NME).

The tenement E40/395 is located roughly 40 kilometres south-southwest of Leonora and lies within the central portion of the Norseman-Wiluna Archaean greenstone belt between two major regional shear zones, the Mt George to the west and Keith-Kilkenny to the east.

“E40/395 presents a great opportunity to consolidate and further explore an area that is near a well-endowed and prolific gold region. With 11 kilometres of sparsely explored Melita Formation host rocks, the prospectivity of this tenement is incredible,” Managing Director Jason Livingstone said.

The Melita Formation is a sequence of rocks that host the well-known Ulysses-Orient Well area.

Extensive historic drilling has been completed within the tenement application, as well as extensive surface geochemistry. The first phase of drilling was completed in the mid-1990’s, and the second phase reported in 2012.

However, drilling to date was shallow and broad and Metalicity would like to explore the area with modern methods.

This application brings the tenements under control or applied for by Metalicity at the Kookynie Gold Project is now over 11,000 hectares.

Phase one drilling

Metalicity completed a phase one reverse circulation drilling program at the Kookynie Gold Project. The company completed 44 holes for 2255 metres.

All samples from a recently completed drilling program have been submitted for analysis. The analysis selected was fire assay and screen fire assay.

These assays are pending but are expected to be released shortly.

Drone magnetic survey

An ongoing drone magnetic survey is being conducted over all the granted tenure at the Kookynie Gold Project.

The drone is currently surveying the Diamantina-Cosmopolitan-Cumberland (DCC) and Altona Trends. The data is currently being processed and will be published in due time.

Company shares are up 16.7 per cent and are trading for 1.4 cents each at 1:10 pm AEST.

MCT by the numbers
More From The Market Herald

" Antipa Minerals (ASX:AZY) uncovers gold-copper at Minyari

Antipa Minerals (AZY) has identified several zones of new gold-copper mineralisation while undertaking greenfield drilling at its Minyari Dome project in Western Australia.
Great Northern Minerals (ASX:GNM) - CEO & Managing Director, Cameron McLean

" Great Northern Minerals (ASX:GNM) gets pleasing one-metre results from Camel Creek

Great Northern Minerals (GNM) has received one-metre composite results from its recent reverse circulation (RC) drilling program at the Camel Creek gold project
Torque Metals (ASX:TOR) - Executive Chairman, Ian Finch

" Torque Metals (ASX:TOR) discovers new gold zone at Paris

Gold explorer Torque Metals (TOR) has discovered a new high-grade zone of gold mineralisation at its Paris Project.
Gibb River Diamonds (ASX:GIB)- Executive Chairman, Jim Richards

" Gibb River Diamonds (ASX:GIB) drilling grows Neta

Phase five aircore drilling at Gibb River Diamonds (GIB) Edjudina Gold Project has extended known mineralisation at the Neta Gold Project in Western