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Metalicity (ASX:MCT) - Managing Director, Jason Livingstone (left)
Managing Director, Jason Livingstone (left)
Source: The Pick Magazine
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  • Drilling at Metalicity’s (MCT) Kookynie Gold Project in the Eastern Goldfields of Western Australia has confirmed high-grade mineralisation continues along strike and at depth from the Altona Mining Centre
  • The Altona Prospect spans over two kilometres in length and the latest batch of assay results included an intercept of three metres at 14.9 g/t gold
  • Metalicity is currently drilling the Leipold prospect and the historical Cosmopolitan Gold Mine, with first assay results expected in the coming weeks
  • Shares last traded at 1.5 cents

Drilling at Metalicity’s (MCT) Kookynie Gold Project in the Eastern Goldfields of Western Australia has confirmed high-grade mineralisation continues along strike and at depth from the Altona Mining Centre.

The centre, located approximately 60 kilometres from Leonora, produced 88,700 ounces between 1900 and 1965.

The Altona Prospect spans over two kilometres in length and the latest batch of assay results included an intercept of three metres at 14.9 g/t gold from 97 metres in ALTRC0030.

Hole ALTRC0032 returned two metres at 5.9g/t gold from 62 metres and hole ALTRC0027 hit two metres at 4.9g/t gold from 106 metres.

“It is really pleasing to return assays from drilling that confirms the presence of mineralisation and the tenure of grade comparable to historical production. The drilling performed at Altona was conducted earlier this year and wraps up our initial programme from 2020,” said Managing Director Jason Livingstone.

Metalicity is currently drilling to test for extensions to the Leipold Prospect and at the historical Cosmopolitan Gold Mine which produced 360,000 ounces between 1896 and 1922.

The company is expecting assays to start coming in over the approaching week, however, the Managing Director noted the laboratories are experiencing high demand.

“Delays do happen but we are scheduling our work through Cosmopolitan, Leipold and we will be tackling McTavish and Champion again in the near future to ensure that an updated mineral resource estimate can be performed for Leipold, McTavish and Champion soon.”

“It is imperative that not only geology be respected in our interpretations in planning further work, but validation through the receipt of assays to ensure that work is targeted, methodical and effective,” he added.

Shares last traded at 1.5 cents.

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